Gauntlet is a crypto startup that provides services for DeFi protocols and decentralized organizations intending to assist such areas as risk management. In other words, Gauntlet builds up a testing platform and blockchain simulations for financial systems. Among protocols included by users are Aave, Compound, and SushiSwap.
The new funding round was led by Ribbit Capital. Other investors were Polychain and Paradigm. Paradigm also led the last round in 2020. Gauntlet plans to expand product offerings to new verticals (derivatives, options, NFTs) and increase crypto-native risk exposure.
Gauntlet, New York, the USA, was founded by Rei Chiang, Tarun Chitra in 2018. Now, Tarun Chitra is CEO of Gauntlet, and Rei Chiang is Gauntlet’s CTO. As decentralized systems create new challenges for protocol and smart contract developers, and asset holders, Gauntlet’s blockchain simulations and testing platform test clients’ smart contracts or protocol and gain intuition on how the behavior is affected by design choices. Thus, the company helps financial institutions, providing them with transparency and reducing experimentation costs. As a result, teams can design, launch, and scale new decentralized systems.