8.6
/ 10
Best DeFi Strategy & Protocol Economics Advisors · Review
Gauntlet
Gauntlet began in 2018 as a simulation-based risk and parameter modelling firm for DeFi protocols.
Best For
Lending and DEX protocols needing parameter and incentive optimization
Headline Cost
Not published as a price list; the Compound contract was $2.3M per year in DAO proposals
Founded
2018
Rank in category
1 of 15
Last Checked
22 September 2026
Score breakdown
Category rubric →Published research and models · 25%
9.0
Client-confirmed work · 20%
10.0
Recent economics work · 20%
10.0
Conflict-of-interest disclosure · 15%
5.0
Named team · 10%
9.0
Transparent terms · 10%
7.0
A criterion with nothing published scores 0, so a low score often means missing evidence rather than poor work. The headline 8.6 is the weighted mean of these marks — see our methodology. Not financial advice.
The evidence behind each mark
Scoring rules →| Criterion | Mark | What we found | Source | Checked |
|---|---|---|---|---|
| Published research and models · 25% | 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 · 20% | 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 · 20% | 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 · 15% | 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 · 10% | 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 · 10% | 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
- 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
Where it falls 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
| # | Service | Best for | Cost | Score |
|---|---|---|---|---|
| 1 | Gauntlet | Lending and DEX protocols needing parameter and incentive optimization | Not published as a price list; the Compound contract was $2.3M per year in DAO proposals | 8.6 |
| 2 | LlamaRisk | Large lending protocols and stablecoin issuers that need a risk framework, parameter design and oracle-based risk automation | Not published as a price list; Aave renewal priced at $3.5M for one year (GHO plus 5,000 AAVE) | 7.6 |
| 3 | Tokenomics.net | Early-stage founders who want a fixed-price, fully documented token model before a raise | Data Room tiers $15,000, $20,000 and $25,000 | 7.1 |
| 4 | CryptoEconLab | Infrastructure, DePIN and AI protocols that need quantitative mechanism design and simulation | Design from $50,000 to $150,000+ | 6.9 |
| 5 | FinDaS | Early-stage teams that want a fixed-price token design or audit with an optional simulation model | Design $24,000 cash, or cash plus 0.5–1% of supply | 6.3 |
| 6 | BlockScience | Protocols that want simulation-based, research-grade mechanism and governance analysis | Not published | 6.0 |
| 7 | 8Blocks | Pre-TGE teams and Web2 or RWA businesses that want a token model or audit tied to business revenue | Workshop $2,500; Clutch lists $5,000+ minimum and $200-300/hr | 5.7 |
| 8 | Simplicity Group | Early-stage projects with modest budgets that want token design and GTM support from one vendor | Tokenomics from $5,000 | 5.6 |
| 9 | Chainrisk | Lending and perpetuals protocols that need a simulation-based economic audit of collateral, liquidation and interest rate parameters | Not published on the website; Compound forum proposals quoted a 90,000 USDC three-month pilot and a 500,000 USD annual retainer | 5.4 |
| 10 | Three Sigma | DeFi protocols that want a code audit and an economic or parameter review from the same vendor | Not published | 5.3 |
| 11 | Nethermind | Protocols wanting tokenomics analysis from a large engineering and security firm | Not published | 5.2 |
| 12 | Block Analitica | Lending and stablecoin protocols that need ongoing collateral risk parameters and monitoring rather than a one-off token design | Not published | 5.2 |
| 13 | Forgd | VC-backed projects preparing a TGE that want tokenomics, market maker and listing work from one provider | Cash and tokens; no cash price published | 4.0 |
| 14 | Delphi Consulting | Larger projects that want token advisory backed by a large research desk and are comfortable with a group that also invests | Not published | 3.8 |
| 15 | Blockphrase | Projects in India or the UAE that want token design combined with development and compliance work from one vendor | Not published | 2.4 |