The Mantle community's MIP-34 proposal to "provide Aave with a loan of 30,000 ETH" has been approved.

CoinFeed reported on May 8th that the Mantle community has passed governance proposal MIP-34, authorizing the Mantle Treasury to provide a loan of up to 30,000 ETH to Aave DAO to cover bad debts caused by the April 18th attack on the Kelp DAO rsETH cross-chain bridge. The loan term is up to 36 months, with an interest rate of LIDO staking yield plus 1% annualized, and early repayment is possible without penalty. The loan will be escrowed in a multisignature wallet, with Mantle having priority collateral rights over the wallet. Aave will need to additionally stake at least $11 million worth of AAVE and 5% of its protocol revenue as collateral. Mantle will also be entrusted with 130,000 AAVE for its governance voting.