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Dao is a GameFi project. It is a journey of Taoist cultivation, spiritual practice and cultural revival in Web3.
ILITY Secures $2 Million in Seed Funding Led by Animoca Brands
Odaily, Odaily reported that ILITY has announced the completion of a $2 million seed round at a valuation of $21 million, led by Animoca Brands, with participation from DAO Duck and others.The funds from this round will primarily be used to accelerate protocol development and expand ecosystem partnerships.The project aims to build a layer-1 blockchain protocol focused on private cross-chain verification, enabling trustless verification of holdings and behaviors through zero-knowledge proofs while maintaining wallet address privacy.
Lido Discloses Impact of Kelp Security Incident; ~9% Exposure of EarnETH Affected
Lido has released an update regarding the Kelp security incident, stating that its Earn-series vaults are working with the management team to address the issue, focusing on two key risk areas: rsETH exposure and tightening liquidity in lending markets. Lido emphasizes that its core staking protocol remains unaffected, and both stETH and wstETH remain secure and stable. Currently, only the EarnETH vault holds approximately 9% of its TVL in rsETH exposure; related deposits and withdrawals have been suspended by the management team pending resolution. Of the ~$70 million in ETH stolen in the earlier attack, roughly $70 million has already been recovered; asset recovery and loss allocation efforts are ongoing. To mitigate liquidity pressure, the management team has reduced leverage and optimized position structures, significantly decreasing wETH debt exposure. Should losses ultimately materialize, EarnETH will activate its $3 million “first-loss protection mechanism,” funded by the DAO. Other vaults remain unaffected: DVV and EarnUSD are operating normally. The GGV sub-vault is currently experiencing negative yields due to a combination of recursive staking strategies and rising borrowing rates, but active adjustments are underway. Users’ previously submitted withdrawal requests will be processed at pre-incident valuations.
daos.fun Founder's Summary: Has Stopped Launching DAO Products, Speculation-Driven Market and Governance Flaws Are Unsustainable
Odaily News daos.fun founder baoskee posted on the X platform stating that the team has ceased further development of DAO products. The reason is that the market is primarily driven by speculation, and the "degen managing a hedge fund" model has structural issues, including behaviors such as dumping after fundraising or self-buying tokens.He pointed out that daos.fun had previously promoted narratives related to DAOs, ICM, and AI, and emphasized that the team did not engage in insider trading or token sniping during operations, creating profits for users.Simultaneously, baoskee mentioned that while the whitelist mechanism is controversial, overall it still constituted an "interesting experiment." He stated he will continue to monitor the development of new projects like pumpcade and megapot, and is optimistic about the innovative potential of the Solana ecosystem in the financial gaming field.
KieDex, a cryptocurrency futures exchange, has raised $3.5 million in funding, led by Marqel Capital.
According to an official announcement, cryptocurrency futures exchange KieDex has raised $3.5 million in funding, led by Marqel Capital. The company stated that the funds will be used to build the KieDex platform and develop a next-generation cryptocurrency futures exchange focused on fast, secure, and incentive-driven trading experiences. Supporting partners include Hidden Street Capital, Caviar, CSP DAO, Solulu Club, Rocket, TPC, Devmons, and TATATU.
Kelp Releases Community Update: Advancing Resolution for the rsETH Security Incident to Achieve Win-Win Outcomes for All Parties
Kelp DAO released a community update on X, noting that the recent rsETH security incident has remained tense over the past several days. However, with support from partners and the broader community, discussions are progressing in a positive direction, and efforts to identify an appropriate resolution are being accelerated. The guiding principles have already been reflected in initial actions, and subsequent updates will continue along this path, aiming for a win-win outcome for all stakeholders. Over the past four days, the Kelp team has engaged in in-depth communication with partners and other relevant parties. Specific progress includes: the Arbitrum Security Council has taken measures to freeze the stolen funds, and the SEAL 911 emergency response team has swiftly stepped in to conduct preliminary investigations, providing a clear and objective analytical perspective on the incident. While some developments have not yet been fully disclosed, related work continues to advance steadily. Kelp DAO stated that its current priority is safeguarding user assets and strengthening the protocol itself. This incident is also viewed as a critical test—not only for the project but for the broader DeFi ecosystem—and key follow-up developments will continue to be shared via official channels.
CertiK: Phishing, Deepfakes, and Supply Chain Attacks Could Become the Biggest Crypto Security Threats in 2026
According to Natalie Newson, Senior Blockchain Investigator at CertiK, real-time deepfakes, phishing attacks, supply-chain compromises, and cross-chain vulnerabilities will be the primary drivers of cryptocurrency hacks in 2026. So far this year, the industry has lost over $600 million to hacking incidents—including the $293 million Kelp DAO exploit and the $280 million theft from Drift Protocol in April—both linked to a North Korean hacker group. Newson warns that the accelerated advancement of AI will make attack methods increasingly sophisticated, including more realistic deepfakes, autonomous attack agents, and “agent AIs” capable of automatically scanning smart contracts for vulnerabilities. However, AI can also serve as a defensive tool. CertiK advises investors to verify URL authenticity and store assets in cold wallets to mitigate risk.
Jefferies: KelpDAO Security Incident May Slow Down Wall Street's Blockchain Deployment
Odaily News Wall Street investment bank Jefferies' analysis indicates that the approximately $293 million attack on Kelp DAO on April 18 exposed critical infrastructure risks, which may prompt traditional financial institutions to reassess the pace of blockchain and tokenization advancement.Jefferies believes the attacker triggered market sell-offs and liquidity stress by minting unbacked tokens and borrowing across platforms. The incident is suspected to be potentially linked to the Lazarus Group and also highlights the single point of failure in the validation mechanisms of cross-chain bridges. As institutions accelerate the tokenization of assets (such as funds, bonds, and deposits), related risks may cause some banks and asset management firms to temporarily pause deployments, prioritizing a review of system security. Especially in scenarios reliant on cross-chain infrastructure, security vulnerabilities could lead to market fragmentation, undermining the practical utility of tokenized assets.Despite short-term confidence being shaken, Jefferies still emphasizes that the long-term trend remains unchanged. Against the backdrop of regulatory progress and continuous infrastructure improvement, use cases like stablecoins still hold growth potential. However, the industry as a whole is still in its early development stage and requires time to enhance system robustness. (CoinDesk)
Aave has frozen the rsETH markets on Aave V3 and Aave V4.
Regarding the KelpDAO hack, Aave tweeted that the rsETH markets on Aave V3 and Aave V4 have been frozen. Aave stated that its contracts were not exploited and that this incident is related to the exploit of Kelp DAO’s rsETH cross-chain bridge. The freeze will prevent new rsETH deposits and rsETH-backed lending. Aave is currently reviewing lending activity involving rsETH on the platform following the exploit and has indicated that, should the protocol accumulate bad debt as a result, it will explore options to cover the deficit. Earlier reports indicated that Kelp DAO’s cross-chain bridge was hacked, resulting in the theft of approximately $292 million worth of rsETH, exposing Aave V3 to bad debt risk.
Kelp DAO Cross-Chain Bridge Attacked, ~$292M rsETH Stolen
According to CoinDesk, Kelp DAO’s LayerZero-based cross-chain bridge was attacked, with the attacker withdrawing 116,500 rsETH—worth approximately $292 million at current prices, or roughly 18% of its circulating supply. This incident has become the largest DeFi attack of 2026 to date. In response, Aave, SparkLend, and Fluid have frozen rsETH-related markets, and Lido Finance has suspended new deposits into its earnETH product. Kelp DAO stated it is jointly investigating the incident with LayerZero, auditing firms, and external security experts.
Arbitrum DAO Launches Vote to Release 30,766 ETH for Kelp Attack Aftermath
: Arbitrum DAO has initiated a governance vote to release the previously frozen 30,766 ETH to support DeFi United, a recovery plan following the Kelp DAO attack.These assets, worth approximately $71.1 million, were frozen by the Arbitrum Security Council on April 20. They were originally funds transferred to the Arbitrum network by the attacker. If the proposal passes, it will become the largest single source of funding for the DeFi United plan.In the early stage of voting, 16.9 million ARB have already been cast in support. Currently, there are no opposing votes. The voting is set to continue until May 7.
Lista DAO lock contract distributes 7.023 million LISTA to an address, accounting for approximately 2% of its circulating supply
According to Odaily, on-chain data shows that the Lista DAO core lock contract (Vote-escrowed Lista), labeled by Arkham, transferred funds to address 0xFEf45b8B5C52f442a8f866f8Ea9A10c4C739BF36 a few minutes ago. The address received approximately 7.023 million LISTA tokens, with a total value of around $616,800. Previously, after this address received LISTA tokens, it would transfer them to the Binance deposit address.Currently, the circulating supply of LISTA is 354.15 million, and the total amount received by this address accounts for approximately 1.98% of the circulating supply. LISTA is currently priced at $0.08722, up 3.04% in the past 24 hours, with a circulating market cap of approximately $30.88 million.
Galaxy Digital OTC-linked address deposits 15,000 ETH to exchange, valued at $34.74 million
Odaily报道 According to Ai Yi monitoring, a Galaxy Digital OTC-related address (0x16F...1Fde) has deposited 15,000 ETH, worth $34.74 million, to an exchange. These funds originated from 38,000 ETH withdrawn from Aave a week ago, which was the day when Kelp DAO was attacked, causing Aave to potentially face bad debt.
An address deposited 1.397 million UNI tokens—worth approximately $4.6 million—to three exchanges two hours ago.
According to on-chain analyst Ai Aunt (@ai_9684xtpa), the address 0xb5E…Fc24e deposited a total of 1.397 million UNI tokens—worth approximately $4.6 million—into three exchanges two hours ago. Notably, the Bybit deposit address has had multiple interactions with the DeFi crypto fund DeFiance Capital, which is an investor in both Aave and LayerZero—two entities closely linked to the recent Kelp DAO hack incident.
JPMorgan: Frequent DeFi hacks and stagnant TVL continue to suppress institutional participation
According to The Block, JPMorgan analysts noted in their latest report that ongoing DeFi security vulnerabilities and stagnant growth in total value locked (TVL) continue to constrain institutional enthusiasm for the DeFi sector. Recently, Kelp DAO’s cross-chain bridge suffered a major attack, during which the attacker minted $292 million worth of uncollateralized rsETH tokens and borrowed real ETH on Aave, resulting in approximately $230 million in bad debt. This caused DeFi TVL to evaporate by roughly $20 billion within several days. LayerZero and blockchain security researchers have attributed this attack to the North Korean hacker group Lazarus Group; some of the stolen funds have been frozen, while the rest remain in circulation. Analysts also pointed out that DeFi TVL denominated in ETH has remained range-bound for an extended period, raising market concerns about whether DeFi can achieve organic growth sufficient to support institutional adoption. Furthermore, following each security incident, users tend to shift funds into USDT as a safe-haven asset—yet this trend has not yet significantly driven USDT’s market capitalization growth.
Lido Discloses Impact of Kelp Security Incident; ~9% Exposure of EarnETH Affected
Lido has released an update regarding the Kelp security incident, stating that its Earn-series vaults are working with the management team to address the issue, focusing on two key risk areas: rsETH exposure and tightening liquidity in lending markets. Lido emphasizes that its core staking protocol remains unaffected, and both stETH and wstETH remain secure and stable. Currently, only the EarnETH vault holds approximately 9% of its TVL in rsETH exposure; related deposits and withdrawals have been suspended by the management team pending resolution. Of the ~$70 million in ETH stolen in the earlier attack, roughly $70 million has already been recovered; asset recovery and loss allocation efforts are ongoing. To mitigate liquidity pressure, the management team has reduced leverage and optimized position structures, significantly decreasing wETH debt exposure. Should losses ultimately materialize, EarnETH will activate its $3 million “first-loss protection mechanism,” funded by the DAO. Other vaults remain unaffected: DVV and EarnUSD are operating normally. The GGV sub-vault is currently experiencing negative yields due to a combination of recursive staking strategies and rising borrowing rates, but active adjustments are underway. Users’ previously submitted withdrawal requests will be processed at pre-incident valuations.
DeFi Experiences Its Most Severe Loss Month in History, with Over $606 Million Stolen in a Single Month
Within less than three weeks, 12 protocols were hacked for over $606 million. The Drift incident resulted in losses of $285 million, and the Kelp DAO incident caused $292 million in losses—these two attacks together accounted for approximately 95% of the total losses.
Arbitrum DAO Launches Vote to Release 30,766 ETH for Kelp Attack Aftermath
: Arbitrum DAO has initiated a governance vote to release the previously frozen 30,766 ETH to support DeFi United, a recovery plan following the Kelp DAO attack.These assets, worth approximately $71.1 million, were frozen by the Arbitrum Security Council on April 20. They were originally funds transferred to the Arbitrum network by the attacker. If the proposal passes, it will become the largest single source of funding for the DeFi United plan.In the early stage of voting, 16.9 million ARB have already been cast in support. Currently, there are no opposing votes. The voting is set to continue until May 7.
DeFi United Raises Over $300 Million in Funding
Circle Ventures, Consensys, and Joseph Lubin have announced their support for the DeFi United initiative, aimed at mitigating losses caused by the Kelp DAO vulnerability. Circle Ventures is supporting the ecosystem by purchasing AAVE tokens. Consensys and Ethereum co-founder Joseph Lubin have confirmed the provision of 30,000 ETH to DeFi United. To date, DeFi United has raised over 132,000 ETH, with a total value exceeding $300 million. These funds will be used to cover bad debts resulting from an attacker minting unbacked rsETH via the LayerZero bridge and borrowing assets on Aave. Previously, Aave proposed a donation of 25,000 ETH, while Lido DAO, Ether.fi, and Kelp have respectively proposed or pledged donations of 2,500 ETH, 5,000 ETH, and 2,000 ETH.
Galaxy Digital OTC-linked address deposits 15,000 ETH to exchange, valued at $34.74 million
Odaily报道 According to Ai Yi monitoring, a Galaxy Digital OTC-related address (0x16F...1Fde) has deposited 15,000 ETH, worth $34.74 million, to an exchange. These funds originated from 38,000 ETH withdrawn from Aave a week ago, which was the day when Kelp DAO was attacked, causing Aave to potentially face bad debt.
Kelp Releases Community Update: Advancing Resolution for the rsETH Security Incident to Achieve Win-Win Outcomes for All Parties
Kelp DAO released a community update on X, noting that the recent rsETH security incident has remained tense over the past several days. However, with support from partners and the broader community, discussions are progressing in a positive direction, and efforts to identify an appropriate resolution are being accelerated. The guiding principles have already been reflected in initial actions, and subsequent updates will continue along this path, aiming for a win-win outcome for all stakeholders. Over the past four days, the Kelp team has engaged in in-depth communication with partners and other relevant parties. Specific progress includes: the Arbitrum Security Council has taken measures to freeze the stolen funds, and the SEAL 911 emergency response team has swiftly stepped in to conduct preliminary investigations, providing a clear and objective analytical perspective on the incident. While some developments have not yet been fully disclosed, related work continues to advance steadily. Kelp DAO stated that its current priority is safeguarding user assets and strengthening the protocol itself. This incident is also viewed as a critical test—not only for the project but for the broader DeFi ecosystem—and key follow-up developments will continue to be shared via official channels.
An address deposited 1.397 million UNI tokens—worth approximately $4.6 million—to three exchanges two hours ago.
According to on-chain analyst Ai Aunt (@ai_9684xtpa), the address 0xb5E…Fc24e deposited a total of 1.397 million UNI tokens—worth approximately $4.6 million—into three exchanges two hours ago. Notably, the Bybit deposit address has had multiple interactions with the DeFi crypto fund DeFiance Capital, which is an investor in both Aave and LayerZero—two entities closely linked to the recent Kelp DAO hack incident.
Arbitrum DAO Proposal Seeks to Unfreeze ETH for rsETH Recovery
According to official announcements, Aave Labs, KelpDAO, LayerZero, EtherFi, Compound, and others have submitted an Arbitrum Constitutional AIP proposing the release of 30,765.67 ETH—previously frozen by the Arbitrum Security Council—to the recovery address 0xf228...C15e for compensation and restoration of assets related to the rsETH incident. The proposal states that the KelpDAO rsETH cross-chain incident created a support shortfall of approximately 76,127 rsETH, and the released funds will be incorporated into the coordinated recovery process. The proposal requires no additional treasury funding and estimates the governance process will take approximately 49 days. Currently, the proposal has a 100% voting approval rate, and voting will end at 2:54 AM Beijing Time on May 8.
Arbitrum DAO Launches Vote to Release 30,766 ETH for Kelp Attack Aftermath
: Arbitrum DAO has initiated a governance vote to release the previously frozen 30,766 ETH to support DeFi United, a recovery plan following the Kelp DAO attack.These assets, worth approximately $71.1 million, were frozen by the Arbitrum Security Council on April 20. They were originally funds transferred to the Arbitrum network by the attacker. If the proposal passes, it will become the largest single source of funding for the DeFi United plan.In the early stage of voting, 16.9 million ARB have already been cast in support. Currently, there are no opposing votes. The voting is set to continue until May 7.
B.AI Partners with HTX DAO to Build Infrastructure for the AI Agent Era
According to an official announcement, B.AI has officially entered into a strategic partnership with HTX DAO to jointly build a new paradigm covering the entire AI and Web3 domains. B.AI is committed to becoming the foundational financial infrastructure for the AI Agent era; this collaboration will leverage HTX DAO’s decentralized governance ecosystem and accelerate the arrival of Artificial General Intelligence (AGI) through a more open and composable on-chain architecture. Moving forward, the two parties will explore areas including autonomous intelligent agent networks and on-chain intelligent services, driving the on-chain implementation of the intelligent economic layer.
Lido DAO Proposes Authorizing the Use of the First-Loss Fund to Cover Losses from the Kelp Incident
According to the Lido Governance Forum, Lido Earn contributors have submitted a proposal to the DAO requesting authorization to deploy the existing First Loss Reserve to cover losses arising from the Kelp incident, waiving the original 1% threshold requirement. It is estimated that, assuming the DeFi United rescue plan succeeds, the remaining borrowing-rate losses for Lido Earn’s leveraged staking/re-staking positions will amount to approximately 400–600 ETH. Contributors stated they will collaborate with curators to jointly absorb these losses; however, full coverage by curators alone is currently deemed unrealistic. The proposal stresses that this authorization constitutes a one-time exception specific to the Kelp incident and does not alter the standard 1% threshold rule, does not involve additional treasury allocations, and is not intended to subsidize APY or support post-recovery yields. It further notes that if litigation arises from these losses, associated legal costs alone could reach several hundred thousand dollars. Given that the rsETH situation is expected to be resolved within 5–10 days—and considering the standard snapshot voting window is 7 days—the proposers emphasize the time-sensitive nature of this vote. After resolution, the team plans to publish a comprehensive post-mortem report and advance improvements to risk frameworks and operational mechanisms.
DeFi United Raises Over $300 Million in Funding
Circle Ventures, Consensys, and Joseph Lubin have announced their support for the DeFi United initiative, aimed at mitigating losses caused by the Kelp DAO vulnerability. Circle Ventures is supporting the ecosystem by purchasing AAVE tokens. Consensys and Ethereum co-founder Joseph Lubin have confirmed the provision of 30,000 ETH to DeFi United. To date, DeFi United has raised over 132,000 ETH, with a total value exceeding $300 million. These funds will be used to cover bad debts resulting from an attacker minting unbacked rsETH via the LayerZero bridge and borrowing assets on Aave. Previously, Aave proposed a donation of 25,000 ETH, while Lido DAO, Ether.fi, and Kelp have respectively proposed or pledged donations of 2,500 ETH, 5,000 ETH, and 2,000 ETH.
JUST Releases Q1 2026 Quarterly Report
JUST officially released its Q1 2026 financial report today, with core metrics demonstrating robust growth. This quarter, through sustained investment, a total of 1.356 billion JST tokens were repurchased and burned—representing 13.70% of the total supply—with cumulative repurchase value reaching $60.03 million, further amplifying the deflationary effect. Meanwhile, JustLend DAO’s TVL steadily climbed to $6.91 billion, and active user count surpassed 482,000, reinforcing ecosystem liquidity and market influence. Looking ahead, JUST will upgrade its diversified buyback mechanism to build a more resilient growth flywheel, continuously enhancing the long-term holding value of JST.
Related news
DeFi Experiences Its Most Severe Loss Month in History, with Over $606 Million Stolen in a Single Month
Within less than three weeks, 12 protocols were hacked for over $606 million. The Drift incident resulted in losses of $285 million, and the Kelp DAO incident caused $292 million in losses—these two attacks together accounted for approximately 95% of the total losses.
Arbitrum DAO Proposal Seeks to Unfreeze ETH for rsETH Recovery
According to official announcements, Aave Labs, KelpDAO, LayerZero, EtherFi, Compound, and others have submitted an Arbitrum Constitutional AIP proposing the release of 30,765.67 ETH—previously frozen by the Arbitrum Security Council—to the recovery address 0xf228...C15e for compensation and restoration of assets related to the rsETH incident. The proposal states that the KelpDAO rsETH cross-chain incident created a support shortfall of approximately 76,127 rsETH, and the released funds will be incorporated into the coordinated recovery process. The proposal requires no additional treasury funding and estimates the governance process will take approximately 49 days. Currently, the proposal has a 100% voting approval rate, and voting will end at 2:54 AM Beijing Time on May 8.
Arbitrum DAO Launches Vote to Release 30,766 ETH for Kelp Attack Aftermath
: Arbitrum DAO has initiated a governance vote to release the previously frozen 30,766 ETH to support DeFi United, a recovery plan following the Kelp DAO attack.These assets, worth approximately $71.1 million, were frozen by the Arbitrum Security Council on April 20. They were originally funds transferred to the Arbitrum network by the attacker. If the proposal passes, it will become the largest single source of funding for the DeFi United plan.In the early stage of voting, 16.9 million ARB have already been cast in support. Currently, there are no opposing votes. The voting is set to continue until May 7.
B.AI Partners with HTX DAO to Build Infrastructure for the AI Agent Era
According to an official announcement, B.AI has officially entered into a strategic partnership with HTX DAO to jointly build a new paradigm covering the entire AI and Web3 domains. B.AI is committed to becoming the foundational financial infrastructure for the AI Agent era; this collaboration will leverage HTX DAO’s decentralized governance ecosystem and accelerate the arrival of Artificial General Intelligence (AGI) through a more open and composable on-chain architecture. Moving forward, the two parties will explore areas including autonomous intelligent agent networks and on-chain intelligent services, driving the on-chain implementation of the intelligent economic layer.
Lido DAO Proposes Authorizing the Use of the First-Loss Fund to Cover Losses from the Kelp Incident
According to the Lido Governance Forum, Lido Earn contributors have submitted a proposal to the DAO requesting authorization to deploy the existing First Loss Reserve to cover losses arising from the Kelp incident, waiving the original 1% threshold requirement. It is estimated that, assuming the DeFi United rescue plan succeeds, the remaining borrowing-rate losses for Lido Earn’s leveraged staking/re-staking positions will amount to approximately 400–600 ETH. Contributors stated they will collaborate with curators to jointly absorb these losses; however, full coverage by curators alone is currently deemed unrealistic. The proposal stresses that this authorization constitutes a one-time exception specific to the Kelp incident and does not alter the standard 1% threshold rule, does not involve additional treasury allocations, and is not intended to subsidize APY or support post-recovery yields. It further notes that if litigation arises from these losses, associated legal costs alone could reach several hundred thousand dollars. Given that the rsETH situation is expected to be resolved within 5–10 days—and considering the standard snapshot voting window is 7 days—the proposers emphasize the time-sensitive nature of this vote. After resolution, the team plans to publish a comprehensive post-mortem report and advance improvements to risk frameworks and operational mechanisms.
Lista DAO lock contract distributes 7.023 million LISTA to an address, accounting for approximately 2% of its circulating supply
According to Odaily, on-chain data shows that the Lista DAO core lock contract (Vote-escrowed Lista), labeled by Arkham, transferred funds to address 0xFEf45b8B5C52f442a8f866f8Ea9A10c4C739BF36 a few minutes ago. The address received approximately 7.023 million LISTA tokens, with a total value of around $616,800. Previously, after this address received LISTA tokens, it would transfer them to the Binance deposit address.Currently, the circulating supply of LISTA is 354.15 million, and the total amount received by this address accounts for approximately 1.98% of the circulating supply. LISTA is currently priced at $0.08722, up 3.04% in the past 24 hours, with a circulating market cap of approximately $30.88 million.