Gauntlet Ends Four-Year Relationship with Aave, Citing Difficulty Working with DAO Governance

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Cointime2024/02/22 00:13

By:Cointime

Gauntlet, a blockchain risk management firm, has ended its four-year relationship with decentralized lending platform Aave due to difficulties working with the decentralized autonomous organization (DAO) that governs the protocol. Gauntlet served as a "Risk Steward" for Aave, overseeing the platform's risk levels, providing updates to the Aave community, and manually setting certain lending and borrowing parameters. Aave, which has $11 billion locked in its system, is one of the largest decentralized lending platforms, and holders of the AAVE token are collectively referred to as the "Aave DAO" and are responsible for voting on key decisions governing the platform. The decision to terminate the relationship was met with backlash from some members of the Aave community.

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