LayerZero has announced the allocation of 10,000 ETH—worth $23 million—to support recovery efforts in the DeFi sector following the KelpDAO hack.
The funds will be distributed across multiple initiatives, including 5,000 ETH for the DeFi United fund and another 5,000 ETH to support liquidity in Aave.
This move is part of a broader recovery strategy aimed at stabilizing affected projects and reinforcing confidence in decentralized finance despite ongoing security challenges.