Lido· closed

Authorize Lido EarnETH Loss Coverage Below 1% Threshold For The Kelp Incident

Proposed by0x8Ee5...Fbc1

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Current Vote

54,488,123.002For (95%)

—

3,018,233.433Against (5%)

TL;DR

Lido Earn contributors request DAO authorization to use the Lido Earn first-loss mechanism to cover Kelp-related losses incurred by Lido EarnETH users, even if such losses are below the previously approved 1% threshold. This is a one-off, Kelp-specific exception intended to support Lido Earn's continuity and user confidence.

Motivation

The April 2026 Kelp rsETH incident (LayerZero exploit) resulted in a material rsETH backing shortfall and triggered broader cross-protocol dislocation across DeFi. In response, a coordinated initiative — DeFi United — has been established to cover the rsETH deficit. However, even in the case of f

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ID: proposal:lido:0x5629f9b201f32dbd5780f7e2e5601eed7504cdb7919b622a7ef039261d3c671a

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Details

ID: 0x5629f9b201f32dbd5780f7e2e5601eed7504cdb7919b622a7ef039261d3c671a
DAO: Lido
Source: Snapshot
Start: April 30, 2026
End: May 6, 2026