๐ **Gauntlet Ends Partnership with Aave** ๐
๐ **Date**: Feb 22, 2024
๐ Blockchain analytics company Gauntlet has officially terminated its partnership with Aave, a popular open-source liquidity protocol. Gauntlet, which served as a market risk manager for Aave, cited difficulties in navigating inconsistent guidelines and objectives from Aave DAO stakeholders.
๐ **Issues Raised:**
- Gauntlet faced challenges in understanding and aligning with the objectives of Aave DAO stakeholders.
- Criticism arose during Gauntlet's efforts in to distribute ARB emissions to Aave users.
- Aave Chan Initiative (ACI) founder, Marc Zeller, mentioned Gauntlet's invoicing process and a lack of coordination with the Aave team as areas of concern.
๐ผ **Gauntlet's Role:**
- Gauntlet was responsible for reviewing mechanical designs and creating simulations for Aave's risk management.
- The termination follows a recent $1.6 million contract renewal, approved through a governance vote.
๐ค **Mixed Feelings:**
- Gauntlet Vice President of Growth, Nick Cannon, expressed mixed feelings about leaving the partnership, acknowledging the value of the Aave collaboration.
๐ **Aave's Status:**
- Aave is currently the largest decentralized finance (DeFi) lending protocol, with a total value locked (TVL) of $9.5 billion.
๐ **Transition Process:**
- The offboarding process is yet to be determined, but Gauntlet aims for a smooth and transparent transition.
๐ฃ **Community Reactions:**
- Community reactions to Gauntlet's departure from Aave have been mixed, reflecting various perspectives on the partnership.
๐ฐ For more details and updates, stay tuned to the latest developments in the blockchain space.
#AAVE #TrendingTopic #cryptonews #BinanceSqaure #Write2Earn ๐๐
