Gauntlet Delegate Platform

Name: Gauntlet
Delegate Address: 0xB0B829a6AaE0F7e59B43391b2C8a1CFD0C801c8C
Forum: @inkymaze
Rocketchat: @inkymaze
Website: https://gauntlet.network/

Core Values

  • Quantitative risk management
  • Maximizing risk adjusted protocol income
  • Minimizing insolvent debt to some tolerance

Delegate Statement

Gauntlet’s delegate guidelines are informed by our core values and prior experience analyzing the protocol. For example, our Auction Assessment report.

Gauntlet is a platform for risk management and parameter optimization for protocols. As such we will seek to provide insights into quantitative decisions with a focus on market risk. Gauntlet aims to elide ourselves from emotional and politically charged votes that do not readily admit quantitative analysis.

Gauntlet will look to support measures to maximize risk adjusted protocol income through parameter changes, onboarding collateral, or other means.

Gauntlet will look to support measures that do not materially impact the risk of insolvent debt for the protocol.

Gauntlet generally support proposals for protocol development which further ecosystem growth, research, security, and novel use-cases.

We (Gauntlet) have read and agree to the Delegate Code of Conduct.

Conflicts of Interest

  • Gauntlet has and will continue to deploy our platform on other protocols and DAOs.
  • Gauntlet holds token positions from prior work including but not limited to COMP, LQTY, SUSHI, and BAl.
  • Gauntlet’s investors may hold positions in MKR and other protocols
  • In a Gauntlet capacity, I sit on the Aave Grants DAO and Compound Grants Program as a reviewer. Myself or additional Gauntlet employees may participate in other governance councils or DAOs in the future.
  • Gauntlet is an active delegate on Compound and Uniswap.
9 Likes

Cool. Good to see Gauntlet throw their hat in the ring.

Speaking of hats, what is your take on using MKR as a collateral type in other platforms? I believe your team is committed to protecting the hat—I ask because as you know—recently COMP token holders approved MKR as a collateral type—I would say a high percentage of Maker Community members prefer to use MKR like a Shaolin Sword to protect the protocol.

But ya—welcome to the community.

3 Likes

Wonderful to see Gauntlet join in delegation! Just curious:

  • As the head of growth for Gauntlet, will you specifically coordinate Gauntlet’s vote and platform?
  • Does Gauntlet itself control assets or will you hopefully be voting with Gauntlet’s investor community in mind?
  • Any specific lessons from delegating on other platforms you’d like to share with the community?

Cheers :beers:

3 Likes

The risk to governance is a top concern and needs to be carefully considered.

As a matter of priority, improving the “usefulness” of MKR by pushing for lending protocols to support it is a lower priority than improving the core protocol. However, improving the usefulness over time does help drive investment into MKR - this makes it a better backstop for the protocol.

Using MKR just as collateral is beneficial to MKR holders as it reduces the circumstances in which they would be forced to sell.

Now it is rare that people use an asset just as collateral, and there is a risk to governance if MKR is borrowed and lent as well. That being said, MKR should focus on trying to harden itself against these sorts of governance “attacks” - you can’t rely on other protocols to do this with things like borrow caps etc.

1 Like

Yes

Gauntlet does not currently hold MKR but our core values and intent as a delegate were crafted to align with the investor community.

For Uniswap, we attempted to be proactive about our philosophy but there were still gaps. We are looking to harden our voting guidelines and make them more specific (read: predictable) going forward.

2 Likes

This topic was automatically closed 91 days after the last reply. New replies are no longer allowed.

The Gauntlet Delegate contract now has MKR delegated to it, so opening up this thread so they may communicate voting rationale. We will also start tracking participation in the Delegate Metrics for Gauntlet.

5 Likes

Thanks for reopening, @prose11 - hello to you and the greater Maker community!

I’m stepping in for @inkymaze as he’s OOO for a bit. I work directly with Nick and lead business development here at Gauntlet. I’ll be responsible for coordinating Gauntlet’s vote and serving as your point of contact for any questions you all have.

Responding to your point around voting rationale, I want to reiterate that everything @inkymaze originally stated remains our voting rationale.

Making one small update to “conflicts of interest,” we are now also delegates on Fei Protocol and dYdX.

Regarding active proposals- we won’t be participating in the ones that end Monday as we have not had enough time to run an analysis to form an opinion. We plan on participating in the next batch and thereafter.

Please don’t hesitate to respond with any questions/comments. Looking forward to being an active delegate within the Maker community.

3 Likes