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Gauntlet Profile picture
Gauntlet
@gauntlet_xyz
Economic modeling for crypto. Research, optimization, and risk management for DEX, Lending, Perpetuals, (Re)staking, Stablecoins, and Ecosystems
Jun 24 • 10 tweets • 3 min read
1/ Gauntlet USD Alpha is Live

The best risk-adjusted stablecoin yield in DeFi, powered by institutional-grade risk management from crypto's most vigilant, quantitative minds.

Learn more and supply the vault 👇 Image 2/ Supplying the vault

Anyone can supply USDC to the vault, built on @base and accessible on the Gauntlet App.

To start, we will allocate to @MorphoLabs vaults on Mainnet and Base. Rewards are automatically swapped to USDC and compounded.

gtUSDa vault: app.gauntlet.xyz/vaults/gtusda
Feb 19 • 7 tweets • 2 min read
1/ A year of LRTs reveals a clear signal: they've emerged as premier collateral assets in lending markets.

Our latest LRT Market Risk dashboard update unveils the leverage dynamics powering leading @eigenlayer LRTs: weETH, rsETH, ezETH, pufETH, and rswETH. Image @eigenlayer 2/ LRT leverage data

Our dashboard now includes a range of LRT leverage metrics, including:

Liquidatable collateral
Liquidation $ amounts at 2% slash and 25% drawdown
Recursive positions — liquidation by slash size
Non-recursive positions — liquidation by $ drawdown Image
Jan 10 • 10 tweets • 3 min read
1/ Tracking the Usual USD0++ Chain of Events and Our Approach

Timeline
4:56PM ET: Usual notified us and other curators that unconditional 1:1 redemption of USD0++ on the primary market is now over, via Telegram. 2/ ~4:57PM ET: simultaneous public tweet announcement and blog post that Unconditional 1:1 redemption of USD0++ to USD0 would end, replacing it with 2 mechanisms: a new 0.87 price floor, and a 1:1 Early Unstaking mechanism for USD0++ → USD0, which will be available early next week (holders forgoe any earned yield on the USD0++).

x.com/usualmoney/sta…
Oct 30, 2024 • 11 tweets • 4 min read
1/ Introducing hJLP — Delta-Hedging for JLP

We've partnered with @DriftProtocol to build a delta-hedged JLP vault, leveraging @JupiterExchange's innovative Liquidity Provider token (JLP).

This structured product builds on our experience in risk management and vault curation. Image @DriftProtocol @JupiterExchange 2/ Rapid early growth

The hJLP vault has surpassed $1M in total deposits and is nearing its initial cap. As we assess vault growth over the coming weeks, we will raise the cap as necessary to balance the risk-adjusted return.
Oct 22, 2024 • 6 tweets • 2 min read
1/ @JupiterExchange Market Update Oct. 14 - Oct. 21

SOL trader PnL surged this week, with BTC and ETH trader PnLs showing modest WoW increases. More info in the thread. Image @JupiterExchange 2/ SOL Win Rate and PnL Chart

• Win Rate: 45.8%
• Net PnL: $8.2M
• Gross PnL: $12.98M

Net and gross SOL trader PnL continued its upward trajectory over the past week, as trader win rate remained even WoW. Image
Oct 16, 2024 • 7 tweets • 3 min read
1/ @JupiterExchange Market Update Oct. 8 - Oct. 15

Over the past week, net trader PnLs for SOL and BTC were up from the week prior. Details in the thread. Image @JupiterExchange 2/ SOL Win Rate and PnL Chart

• Win Rate: 45.9%
• Net PnL: $425.98K
• Gross PnL: $4.17M

Net and gross trader PnL were up WoW, while the trader win rate was slightly lower. Image
Oct 10, 2024 • 7 tweets • 3 min read
1/ @JupiterExchange Market Update Sept. 30 - Oct. 7

With the market trading sideways with some dips, overall SOL, BTC, and ETH trader PnLs were down last week. Image @JupiterExchange 2/ SOL Win Rate and PnL Chart

• Win Rate: 47.2%
• Net PnL: -$7.44M
• Gross PnL: -$2.31M

Despite high levels of total open interest at $1.43B, remaining profitable last week was difficult, likely due to market conditions. Image
Aug 19, 2024 • 9 tweets • 3 min read
1/ Today, we take a deep dive into our Morpho vault curation strategy. 🔎

Since mid-March, we’ve launched a dozen Gauntlet-curated Morpho vaults that generate risk-adjusted yield by providing exposure to lending markets with varying risk profiles.

In this thread, we'll cover:

🔹 Morpho Vault Structure
🔹 Market Allocation Strategy
🔹 Strategic Adjustments

🧵👇Image 2/ First, let's cover how we categorize our vaults:

Prime vaults primarily allocate liquidity to blue-chip markets and maximize risk-adjusted yield while targeting a minimal risk of insolvent debt.

Core vaults offer exposure to markets with higher yields that may come with incrementally more risk.

Explore all Gauntlet-curated vaults here: app.gauntlet.xyz/protocols/meta…
May 23, 2024 • 11 tweets • 4 min read
1/ A few weeks ago, we published a thread on AVS allocation research we've been doing for @ether_fi. Today, we publish the full report!

The report covers:

1️⃣ AVS commitments
2️⃣ Impacts of adding AVSs
3️⃣ Optimal allocations to ensure $eETH maximizes risk-adjusted yield

👇🧵 Image @ether_fi 2/ Given payments and slashing are not live, this framework remains theoretical.

We start off by determining an initial restake per operator given @ether_fi's existing commitments and operator set.
May 20, 2024 • 9 tweets • 2 min read
1/ We added additional LRT and LST markets to the Gauntlet LRT Core MetaMorpho vault on @MorphoLabs to diversify collateral risk and optimize for yield.

Newly added markets are outlined below 🧵👇 @MorphoLabs 2/ $pufETH, a native LRT by @puffer_finance, generates restaking rewards through native restaking on @Eigenlayer.

Details: the pufETH/WETH market has an LLTV of 86%, an initial supply cap of 1,000 WETH, and uses the @redstone_defi market rate oracle.
May 17, 2024 • 9 tweets • 2 min read
1/ With LRTs continuing to garner significant adoption, a framework for evaluating risks is paramount for users to understand the market risk landscape for each token.

Today, we published a blog on LRT market risk as part of our partnership with @EigenLayer.

Let's dive in👇🧵 Image 2/ Our LRT Risk Framework is broken down into 4 attributes:

1️⃣ External Liquidity
2️⃣ Withdrawals
3️⃣ Volatility
4️⃣ DeFi Risk

Read on for more on how we define and evaluate these.
Jul 8, 2022 • 5 tweets • 2 min read
🚀We are excited to launch our @synthetix_io Risk Dashboard!

The dashboard will help the community understand how Gauntlet’s recommendations mitigate risk and increase capital efficiency for the protocol👇

gov.gauntlet.network/synthetix Gauntlet has now built the infrastructure to ingest market data and run simulations and economic stress tests on the @synthetix_io ecosystem.
Mar 15, 2022 • 6 tweets • 3 min read
Our mission is to drive understanding and participation in the financial systems of the future.

We're hiring across the board to do so! How hard are these problems? tl;dr very hard

"We are taking on the formidable engineering challenges associated with building predictive models of aggregate user behavior across DeFi" @ChiangRei, Co-Founder / CTO. "We leverage our Agent Based DSL to run thousands...
Aug 5, 2020 • 5 tweets • 2 min read
Given the astounding run-up in $AMPL price and market cap, much has been said about its mechanism.

We took a closer look at AMPL — analyzing the token's historical and trading behavior observed across exchanges.

gauntlet.network/reports/amplef… We explored strategies that AMPL traders might build upon, particularly around rebase events.

From this analysis, we observed what you might expect: rebase events have in practice driven traders to trade around them (there is an increase in trading before & after the event).