DeFi Strategy & Protocol Economics Advisors · OBOL rating
Gauntlet review
Gauntlet began in 2018 as a simulation-based risk and parameter modelling firm for DeFi protocols.
8.6/10
Strong
Score breakdown
Category rubric →- Published research and modelsweight 25%9.0avg 7.5
- Client-confirmed workweight 20%10.0avg 3.8
- Recent economics workweight 20%10.0avg 6.9
- Conflict-of-interest disclosureweight 15%5.0avg 1.7
- Named teamweight 10%9.0avg 6.0
- Transparent termsweight 10%7.0avg 8.0
this service category average across 15Score = Σ mark × weight. A criterion with nothing published scores 0. Methodology.
The evidence behind each mark
Scoring rules →| Criterion | Mark | What we found | Source | Checked |
|---|---|---|---|---|
| Published research and models | 9.0 | Staff publish academic papers on arXiv and in journals (e.g. Perpetual Demand Lending Pools, an analysis of Uniswap markets); no public open-source model repository was found, so one point is withheld. | arxiv.org ↗ | 22 September 2026 |
| Client-confirmed work | 10.0 | Sampled 5 named Applied Research clients (Compound, Uniswap, NEAR, Decibel, Coinbase); all 5 are confirmed by the client or by a client governance vote. | tally.xyz ↗ | 22 September 2026 |
| Recent economics work | 10.0 | Most recent dated economics work: interest rate model update proposal for Compound's Optimism USDC and USDT markets, posted 17 June 2026. | comp.xyz ↗ | 22 September 2026 |
| Conflict-of-interest disclosure | 5.0 | Token-based compensation (70% streamed in COMP) is disclosed in Compound proposals, but no conflict-of-interest policy was found and the Morpho relationship was raised by the community, not disclosed in the proposal. | comp.xyz ↗ | 22 September 2026 |
| Named team | 9.0 | Founders Tarun Chitra (CEO), Rei Chiang (CTO) and John Morrow (COO) are named with verifiable profiles; current leadership page on gauntlet.xyz was not found. | gauntlet.network ↗ | 22 September 2026 |
| Transparent terms | 7.0 | Applied Research page lists four service formats; the Compound DAO proposal publishes a $2.3M fixed fee, 12-month term and payment split, but this is client-specific, not a standard price guide. | gauntlet.xyz ↗ | 22 September 2026 |
What we liked, and what fell short
Liked
- Peer-reviewed and arXiv papers by staff, e.g. Perpetual Demand Lending Pools (2025)
- Client engagements confirmed by DAO votes and client announcements
- Long-running parameter management for Compound with fees disclosed in governance
Fell short
- Main business has shifted to vault curation, which creates conflicts with advisory roles
- Community criticism of the Compound renewal over the Morpho relationship and fixed fee
- No published conflict-of-interest policy