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Gauntlet Ends Risk Management Role with Aave Citing ‘Inconsistent Guidelines’

Gauntlet, an independent risk manager, has ceased its services for Aave.

John Morrow, co-founder of Gauntlet, explained in a post on the Aave forum that the decision was prompted by the difficulties encountered in working with the decentralized autonomous organization’s unclear instructions and objectives.

Morrow stated, “It is with regret that we announce Gauntlet’s inability to continue our collaboration with Aave. We will be discontinuing our payment stream promptly and collaborating with other stakeholders to identify a replacement for the Risk Steward.”

John Morrow Discusses Departure

Morrow provided insight into the firm’s experiences with Aave’s governance model, shedding light on the challenges Gauntlet encountered while navigating the DAO’s fluctuating guidelines and implicit objectives.

“Over the course of our four-year collaboration with Aave, much has evolved,” Morrow remarked. “It has been truly remarkable to witness the transformation of one of our clients from a fledgling entity to a powerhouse.”

“However, in the past year, we’ve encountered difficulties in interpreting the inconsistent guidelines and implicit objectives of the primary stakeholders,” Morrow added.

Furthermore, Morrow delved into some of the obstacles and disputes the team encountered during their engagement with the community, including duplicate proposals and purportedly unreasonable criticisms.

Aave Community Leaders Respond to Gauntlet’s Exit

Ernesto Boado, Aave’s former CTO, responded to the post and shared his perspective, expressing confusion over Gauntlet’s unilateral decision. Boado, as a member of the Aave community and a professional collaborator with Gauntlet via BGD, questioned the rationale behind Gauntlet’s move.

“While criticism within DAOs can sometimes be harsh, the broader community has generally shown appreciation for Gauntlet’s work,” Boado remarked.

Marc Zeller, founder of Aave-Chan Initiative, offered a sharp rebuttal to Morrow’s statement. According to Zeller, the alleged unfair treatment cited by Morrow served as a “poor excuse” to justify Gauntlet’s exploration of external business opportunities.

Zeller emphasized that the community has initiated efforts to recruit other service providers to fill the vacancy left by Gauntlet.

“At the ACI, we are currently considering a prestigious slot with an annual budget of 1.6 million, and we eagerly await proposals from risk teams of potential candidates,” Zeller stated.

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