Mantle community greenlights 30,000 ETH credit facility for Aave

Mantle token holders have approved Proposal MIP34 on Snapshot, with 110 million MNT voting in favor (100%). The measure authorizes the Mantle Treasury to extend Aave DAO a credit line of up to 30,000 ETH (about $68 million) to help cover bad debt tied to the rsETH cross-chain vulnerability disclosed on April 18. The facility will accrue interest at Lido's staking yield plus 1%, run for up to 36 months, and allow early repayment. The bad-debt risk stems from an earlier exploit in Kelp DAO's LayerZero bridge, where attackers minted 116,500 rsETH. Of that amount, 89,600 rsETH was deposited into Aave V3, enabling roughly $190 million in borrowing. Estimated potential bad debt is $124 million to $230 million. As part of the arrangement, Aave will post at least $11 million in AAVE tokens as collateral and delegate 130,000 AAVE governance voting rights to Mantle.