🔗 **Gauntlet Ends Partnership with Aave** 🔗
📅 **Date**: Feb 22, 2024
🌐 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.
🔍 **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.
💼 **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.
🤝 **Mixed Feelings:**
- Gauntlet Vice President of Growth, Nick Cannon, expressed mixed feelings about leaving the partnership, acknowledging the value of the Aave collaboration.
📈 **Aave's Status:**
- Aave is currently the largest decentralized finance (DeFi) lending protocol, with a total value locked (TVL) of $9.5 billion.
🔄 **Transition Process:**
- The offboarding process is yet to be determined, but Gauntlet aims for a smooth and transparent transition.
🗣 **Community Reactions:**
- Community reactions to Gauntlet's departure from Aave have been mixed, reflecting various perspectives on the partnership.
📰 For more details and updates, stay tuned to the latest developments in the blockchain space.
#AAVE #TrendingTopic #cryptonews #BinanceSqaure #Write2Earn 🚀🔗
