Gauntlet, a company specializing in risk management within DeFi, will cease its partnership with the lending platform Aave after four years of collaboration.
Co-founder John Morrow cited last year’s challenges in “navigating conflicting guidelines and unwritten goals of major stakeholders” as the primary reason for the decision.
He also mentioned instances of what he considered undeserved mass criticism from the community regarding Gauntlet’s proposed solutions. In light of this, the company decided it was better to end the partnership, Morrow added.
“We will cease the payment stream as soon as possible and work with other participants to find a replacement for the operational risk manager for the project,” he stated.
Former Aave CTO and DAO participant Ernesto Boado acknowledged that community criticism “can be harsher than it should be.” He noted that the organization “highly values” Gauntlet’s work, although it leaves the platform “in the midst of a battle.”
Aave DAO co-founder Marc Zeller described the justification of “we’re leaving because we were treated unfairly” as unconvincing. He speculated that Gauntlet simply found a more economically advantageous alternative, having earned around $10 million during the partnership.
Zeller called the vacant risk manager service provider position, with an annual budget of $1.6 million, a “prestigious slot.”
In November 2023, Gauntlet experts published a report noting increased centralization in the DeFi segment.
As reported in 2024, Forbes included Gauntlet in its list of the top 50 fintech companies.