Aave applied a temporary freeze to WETH as a precautionary safety measure in response to the Kelp DAO exploit, alongside freezes on the rsETH and wrsETH reserves.
Aave users are now able to borrow against wrapped Ether on the decentralized finance protocol again, as the Kelp DAO exploit recovery plan continues to progress.
Aave founder Stani Kulechov said in an X post Sunday that the protocol restored loan-to-value (LTV) ratios for wrapped Ether (WETH) to pre-incident levels across all affected networks: Aave V3 Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle and Linea.
“The next step in the rsETH technical recovery plan has been completed with the restoration of WETH LTVs to their pre-incident levels across all affected networks. Users can now once again borrow against WETH on Aave, including through collateral and debt swaps,” Kulechov said.
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