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Stani Kulechov, founder and chief executive officer (CEO) at Avara, announced that the next step in the rsETH technical recovery plan has been completed.
The restoration of WETH loan-to-value (LTV) ratios to their pre-incident levels now allows users to once again borrow against WETH on Aave, including through collateral and debt swaps, across all affected networks.
Earlier in the recovery process, Stani Kulechov confirmed that funds recovered by Arbitrum were moved to Aave LLC as part of the rsETH asset restoration initiative (read more). Separately, he proposed that ETH frozen by the Arbitrum Security Council be released to DeFi United to further support rsETH recovery (more details). Both steps aimed to address impacts from the incident on affected assets and protocols.