Lido Responds to Kelp rsETH Hack: EarnETH Paused, DAO Activates $3M First-Loss Protection Lido Finance provided an update on Lido Earn vaults following the Kelp incident, noting that the Lido staking protocol, stETH, and wstETH remain unaffected.
Lido Responds to Kelp rsETH Hack: EarnETH Paused, DAO Activates $3M First-Loss Protection Lido Finance provided an update on Lido Earn vaults following the Kelp incident, noting that the Lido staking protocol, stETH, and wstETH remain unaffected. Key updates include: Only the EarnETH vault has exposure to rsETH ( ~9% of its TVL ), and its deposits and withdrawals are currently paused; If a loss occurs, a $3 million “first-loss protection mechanism” funded by the Lido DAO treasury will be applied by burning the DAO’s vault shares, etc — link