Gauntlet, a project specializing in DeFi risk management, is terminating its relationship with lending platform Aave after four years of working together.
John Morrow, co-founder of Gauntlet, wrote in a post on the Aave forum that the firm is “no longer able to continue our work with Aave.”
“We will be terminating our payment stream as soon as possible and working with other contributors to find a replacement for the Risk Steward,” Morrow said, adding that in the past year, Gaunlet has “found it difficult to navigate the inconsistent guidelines and unwritten objectives of the largest stakeholders.”
Gauntlet has served as a contributor or “Risk Steward” to Aave since 2020, focusing on strengthening the security of the platform.
In response to the announcement, Ernesto Boado, the former CTO of Aave, said in a reply on the forum that he’s personally “disappointed about the trust that the Aave DAO put on Gauntlet being broken in the middle of the engagement.”
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he’s not chasing headlines, you’ll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.