Mantle Token Holders Approve 30,000 ETH Credit Line for Aave

Mantle token holders have approved Proposal MIP34, authorizing the Mantle Treasury to extend Aave DAO a credit line of up to 30,000 ETH (about $68 million) to help cover potential bad debt tied to the rsETH cross-chain incident on April 18. Snapshot results show 110.1 million MNT votes in favor, representing 100% support. The facility will accrue interest at Lido's staking yield plus 1%, run for up to 36 months, and allow early repayment. The move follows an exploit involving a LayerZero bridge configuration issue at Kelp DAO, which allegedly enabled attackers to mint 116,500 rsETH. They then deposited 89,567 rsETH as collateral on Aave V3 and borrowed roughly $190 million in assets, leaving estimated potential bad debt between $123.7 million and $230.1 million. As part of risk controls, Aave will post at least $11 million in additional collateral in AAVE tokens and delegate governance voting rights for 130,000 AAVE tokens to Mantle. (Source: Foresight News)