Aave founder Stani Kulechov kicked off the push on Wednesday with a personal pledge of 5,000 ETH.
Aave service providers have been leading the DeFi United effort to restore rsETH's backing since the April 18 incident.
Crypto exchange Bybit co-founder Ben Zhou said the exchange, as Mantle's biggest stakeholder, will vote yes.
The coordinated response has drawn cautious optimism alongside structural skepticism from experts.
Matthew Pinnock, COO at Altura DeFi, told Decrypt the effort signals that the ecosystem is "moving beyond isolated protocols to a more coordinated financial system," but stopped short of calling it a template.
"Socialised recovery methods are important in a moment of crisis, but the focus should always be on clear rules and accountability," he said.
"At this stage, there are still very few concrete details about the initiative—beyond initial funding and some indications of potential coordination," Georgii Verbitskii, founder of yield platform TYMIO, told Decrypt. "Without clarity on what it will actually involve, it's difficult to expect any meaningful structural shift in DeFi."
He said the market will “move back toward more conservative, base-layer configurations” as investors realize that “chasing a few extra percentage points of yield” can carry disproportionate risk, likely reducing demand for wrapped products and liquid staking derivatives.
Wrapped products and liquid staking derivatives, he added, may see reduced demand as a direct consequence.
Others view the response as proof of DeFi’s resilience, with Sergey Kravtsov, CEO of Papaya Finance, describing the coordinated effort to Decrypt as “an emergent immune response of a financial system that is actually decentralized,” noting that competing protocols stepped in voluntarily because “letting bad debt cascade… would have hurt everyone.”
On potential fixes, Pinnock said the industry will likely move toward "standardised collateral onboarding frameworks that require independent attestation of backing," adding that verification standards need to be "enforced from onboarding to be effective — rather than discovered missing later down the line."
