Mantle token holders have approved a 30,000 ETH credit line for Aave to help the company deal with the rsETH attack.

According to Mars Finance, Mantle token holders have passed the MIP-34 proposal, approving a credit line of up to 30,000 ETH (approximately $68 million) for Aave DAO. This move aims to help resolve potential bad debt issues arising from the April rsETH attack on Aave V3, which is estimated to have caused between $123.7 million and $230.1 million in bad debt. The proposal passed in a seven-day Snapshot vote, authorizing the Mantle Foundation to negotiate and execute a final loan agreement with Aave DAO. The final implementation of this credit line is still contingent on Aave implementing its recovery plan and finalizing specific terms. A Galaxy Research report indicates that the rsETH attack caused sustained tension in Aave's WETH market, with utilization rates remaining above 99% for 12.7 consecutive days. As of today, Aave Ethereum V3's WETH market utilization rate has fallen back to approximately 91.6%, indicating some easing of market pressure.