- Aave’s risk steward Gauntlet has left the DeFi platform citing “unwritten objectives”
- Gauntlet has been offering risk-based services on Aave for four years
- A section of the Aave community isn’t happy with the development
Blockchain risk management firm Gauntlet has announced that it will no longer offer its services on Aave due to the DeFi platform having “unwritten objectives” and unclear guidelines. According to Gauntlet co-founder John Morrow, the firm will help Aave search for a replacement to mitigate the impact of its departure. Some in the Aave community aren’t happy with Gauntlet’s move saying that the risk management firm’s allegations are probably false, attracting speculations on Gauntlet’s real reason behind the move.
Criticism and Duplicate Proposals
In a post on an Aave community forum, Morrow attributed the presence of “duplicate proposals” and continued criticism by the DeFi platform’s community as among the reasons why they terminated their cooperation with Aave.
Morrow disclosed that his firm was tasked with providing “monitoring, analysis and parameter recommendations to the [DeFi] protocol.” He, however, said that Gauntlet remains open to working with Aave, albeit under revised terms and conditions.
Aave’s ex-CTO Ernesto Boado was among those who weren’t happy with Gauntlet’s move questioning the “rationale of this unilateral decision.”
Boado said that the risk management firm broke Aave DAO’s trust, adding that it’s unlikely “that Aave mistreated Gauntlet.”
A Poor Excuse
Another respected figure within Aave’s DAO, Marc Zeller, agreed with Boado’s views saying that Gauntlet’s reason for leaving “is a poor excuse to justify ” their plan to look for external business. Zeller believes that Aave has greatly contributed to the growth of Gauntlet’s brand, adding that their decision to leave is for a “more profitable and strategic alternative.”
Gauntlet’s departure comes three months after Aave’s owner, Aave Companies, rebranded to Avara citing a need to venture deeper into web3. It also comes six months after the DeFi platform’s Earning Farm suffered a reentrancy attack.
With Gauntlet’s departure, it’s to be seen whom Aave DAO will approve to offer the same services.
