Solana is preparing to help the financially struggling organization Aave! They have made an official statement.

As the DeFi ecosystem's recovery process expands following the KelpDAO-related rsETH crisis, a notable show of support has come from the Solana Foundation. The foundation announced it will contribute to the recovery efforts by providing $USDT to the Aave platform for the first time.

Solana Foundation President Lily Liu stated that this move was made not only to support Aave, but also to promote the overall health of the DeFi ecosystem. Liu said, "Economics are not isolated. The health of Solana requires the entire DeFi ecosystem to be healthy."

According to the announcement, the Solana Foundation is participating in a large-scale rescue initiative called "DeFi United" by lending its $USDT reserves to Aave for the first time. This initiative previously aimed to address the rsETH collateral shortfall through a 25,000 $ETH pledge from the Aave DAO and support from various ecosystem participants.

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However, Liu stated that they will not limit themselves to liquidity support, announcing that the AAVE token will also be added to the Solana network this weekend.

As you may recall, the rsETH bridge data leak led to billions of dollars being drained from Aave, with some pools reaching 100% utilisation, creating significant non-performing loan risks for the protocol. The recent return of $70 million worth of $ETH by the Arbitrum Security Council and the support received through the DeFi United initiative are helping, albeit to a limited extent, to restore confidence in the markets.