Gauntlet

Over the past few months, we've worked closely with various NEAR Protocol ecosystem contributors to design a comprehensive governance framework proposal for the NEAR Ecosystem, focused on transparency, accountability, efficiency, and — most importantly — long-term protocol alignment. Our primary goal is to equip NEAR holders with a governance structure that permits effective, equitable, and sustainable growth. Today, we publish the NEAR House of Stake (HOS) Proposal The governance framework we propose has 4 major components: 1. Stake-weighted voting: Shift from a one-person-one-vote to a stake-weighted system. 2. Organization of governing nodes: Simplify and align the governing structure to increase efficiency, which includes implementing a Screening Committee and Endorsed Delegate Mechanism. 3. Funding structure: Launch new funding types and guardrails, including new incentives for delegates and veNEAR (new governance token) holders. 4. Novel incentive mechanisms: Incentivising meaningful on-chain activity and participation in governance. You can read the entire document on our blog or visit the NEAR forum for an overview of our proposal. Both are linked in the comments. Below are some of the key components of the House of Stake proposal. Governance mechanism (veNEAR) Vote escrowed (veNEAR) tokens are integral to the NEAR voting system, allowing users to lock NEAR tokens for a period ranging from three months to four years. The system is designed to increase voting power with the duration of the stake, promoting long-term commitment and enhancing governance influence. Governance Architecture The proposal includes on-chain voting mechanisms to facilitate broad participation and robust decision-making with checks and balances in place to reduce voter fatigue and fast-track pre-screen proposals. Advisory and Functional Bodies A Screening Committee is proposed, which will initiate the delegate selection processes, pre-screen grant proposals, and ensure continuous evaluation of governance efficacy. The Screening Committee plays a critical role in maintaining dynamic and responsive governance. Delegate Framework Definitions and roles of Endorsed Delegates are clearly outlined, including their selection process and responsibilities. These delegates are crucial for operational governance and are selected based on their engagement and compliance standards. Utilization of 0.5% Annual Inflation A key motivation behind this proposal is to effectively direct and utilize the 0.5% annual inflation rate to fund governance initiatives and incentivize meaningful ecosystem participation. Path to Decentralization Steps towards decentralization include expanding delegate membership and periodic reviews by the Screening Committee to adjust strategies based on performance and effectiveness. We look forward to feedback from the NEAR community as we work together to reimagine NEAR governance and drive long-term ecosystem growth! The future is NEAR!

It's been a month since Jupiter Exchange implemented a dynamic fee determined by trade size based on our recommendations. In a recently published blog, we covered: 🔵 Price Impact Fee Structure Goals 🔵 Key Findings 🔵 Asset-Specific Trends 🔵 Updated Recommendations On June 4, 2024, Jupiter introduced a dynamic fee based on trade size across each market to address concerns about large order manipulation and protect JLP holders: ➡ Base fee: 0.07% all assets ➡ Scalars: SOL - 1,000,000,000, ETH - 5,000,000,000, BTC - 8,000,000,000 Our Key Findings 🔹 Total trading fees increased by approx. 11% 🔹 Medium-sized trades ($250K-$1M) increased, suggesting traders are consolidating or breaking up larger orders 🔹 JLP outperformed its benchmark index by 9% following the change and maintained lower volatility Following our analysis, we provided Jupiter with updated recommendations: 🔹 Base fee: Reduce from 7 bps to 6 bps for all markets 🔹 SOL price impact fee scalar: Adjust to 1.25 billion (from 1 billion) 🔹 Max trade size: Increase from $1.5 million to $2.5 million for all markets Read our blog for more, including charts, a detailed analysis of the price impact fee structure, asset-specific trends, and our recommended updates. https://lnkd.in/eki8wid8

Welcome our partner Puffer Labs as a co-host of http://restaking.day! Join us on July 9th in Brussels at ETH CC

🎤 Announcing our first Restaking Day panel 🎤 Exploring Use Cases, Architecture and Risk Management Strategies for LRTs Panelists: ➡️ Amir Forouzani, core contributor, Puffer Labs ➡️ Mike Silagadze, CEO, ether.fi ➡️ Kilian Boshoff, head of partnerships, Swell Labs ➡️ Nick Stoev, co-founder, Mellow Protocol ➡️ Kratik Lodha, founding contributor, Renzo Protocol Tickets are available at restaking.day (Promo Code: RSTK100)

🔊 Get ready for an insightful session at Restaking Day EthCC! On July 9, Ansgar Dietrichs from the Ethereum Foundation will team up with his colleague Caspar S. to dissect the game-changing "restaking-burn" concept and its impact on the ecosystem. Get your tickets here → restaking.day (Promo Code: RSTK100)

The concept of restaking has quickly evolved from a novel primitive to a fully-fledged competitive sector within crypto. Today, we publish the first installment of our "Inside the Restaking Ecosystem" series. Stay tuned for deep dives into restaking, and read our intro blog: https://lnkd.in/emqBB5j7 Upcoming blogs will cover: ➡ Restaking Protocols (marketplaces) ➡ Actively Validated Services (AVSs) ➡ Liquid Restaking Tokens (LRTs) ➡ Operators ... and more! Our team will also be in Brussels for EthCC, and if you'd like to chat everything restaking make sure to grab a ticket to → restaking.day (discount code RSTK100)

🔊 Speaker announcement for Restaking Day at EthCC! Explore how to build a focused and high-performance LRT on July 9 with Steakhouse Financial's Adrian C. Secure your pass at restaking.day

🔊 Announcing our next speaker for Restaking Day at EthCC! Explore the concept of "restaking-burn" on July 9 with Ethereum Network's Caspar S. Secure your pass at restaking.day

Three Gauntlet-Curated MetaMorpho Vaults Live on Base Morpho Labs is now live on Base, and we are thrilled to support them as a launch partner! Expanding access to Morpho on Base offers several benefits, including accessibility. Built by the most prominent US brand in crypto, integrating with Base provides Morpho suppliers and borrowers with: ➡️ Additional liquidity ➡️ Lower fees Additional Liquidity Base has quickly amassed over $7.5B in TVL, second among L2s behind Arbitrum. Its robust infrastructure and deep user base can enhance liquidity for both suppliers and borrowers on Morpho, facilitating the access and deployment of capital. This improved liquidity may also support more efficient transactions across Morpho. Lower Fees Reduced transaction fees will benefit Morpho suppliers and borrowers on Base. Lower fees can increase DeFi’s appeal to retail and institutional participants, promoting broader use and facilitating the seamless execution of various strategies within the Morpho ecosystem. Our approach to MetaMorpho Vaults We actively optimize parameters and markets to maximize risk-adjusted yield for participants. Market liquidity is transient, so we maintain a sufficient buffer in our parameter settings for all collateral and debt assets in our curated vaults. To do this, we continuously set conditions that maintain collateral at risk for liquidation well below defined liquidity thresholds and restrict the supply of the borrowed asset at risk for liquidation to well below such thresholds. Explore the Gauntlet-curated MetaMorpho vaults that are now live on Base 👇 Gauntlet USDC Prime Markets allocated at launch: ➡️ cbETH/USDC | LLTV: 86% ➡️ wstETH/USDC | LLTV: 86% ➡️ WETH/USDC | LLTV: 86% https://lnkd.in/emPSqM5s Gauntlet USDC Core Markets allocated at launch: ➡️ AERO/USDC | LLTV: 62.5%  ➡️ cbETH/USDC | LLTV: 86% ➡️ WETH/USDC | LLTV: 86% ➡️ wstETH/USDC | LLTV: 86% ➡️ ezETH/USDC | LLTV: 77% ➡️ weETH/USDC | LLTV: 77% https://lnkd.in/emHDWfCD Gauntlet WETH Core  ➡️ cbETH/WETH | LLTV: 96.5% ➡️ wstETH/WETH | LLTV: 96.5% ➡️ weETH/WETH | LLTV: 91.5% ➡️ ezETH/WETH | LLTV: 91.5% https://lnkd.in/enVDkqqF

🔊EthCC Restaking Day Keynote Announcement Gauntlet CEO Tarun Chitra will deliver a keynote in Brussels on July 9 to present his recent restaking research. Tarun will discuss his paper, "Incentivizing Restaking Security," which explores the existence of an equilibrium between services (e.g., AVSs), operators, and attackers that is secure from cascading failures. Results demonstrate that restaking networks with sufficient dynamic incentives for node operators can be secure, effectively avoiding moral hazards that harm their host networks. Tickets are available here → restaking.day