KelpDAO has successfully completed the operational phase of its rsETH recovery plan, transferring the final tranche of 20,373.72 rsETH into the protocol’s OFT adapter. This marks the culmination of a broader effort to replenish approximately 116,000 rsETH over the past two weeks, with support from Aave, to restore confidence in the liquid restaking asset's cross-chain backing infrastructure.
The protocol's dashboard now indicates a 100.01% ETH backing ratio and full bridge lockbox coverage across LayerZero and Chainlink infrastructure, reinforcing claims of full backing since operations resumed. This recovery effort highlights the importance of cross-chain collateral integrity and aims to rebuild user confidence amid heightened scrutiny in the DeFi space.
KelpDAO Completes rsETH Recovery, Achieves 100% Backing Ratio
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