The transfer follows Xai’s emergence as the highest Layer 3 community by transaction throughput.
Xai, the booming gaming-focused Layer 3 community related to Offchain Labs, is teaming up with Gauntlet on its governance treasury administration technique.
Introduced on Aug. 21, Gauntlet will develop a stake-weighted governance mechanism for the Xai DAO. Decentralized governance will oversee the allocation of ecosystem budgets, protocol upgrades, funding stream administration, and can present particular consideration for Xai Sentry Node Holders.
Gauntlet additionally acts as a guardian for Aera, a non-custodial treasury administration protocol, permitting the corporate to implement methods for managing liquidity, hedging danger, and “captur[ing] market upside.” Gauntlet can even deploy time-weighted common pricing methods for leveraged ETH staking and stablecoins on behalf of Xai.
“Our collaboration with Gauntlet represents a big milestone in our journey to refine Xai’s governance construction, serving to to drive extra community-first initiatives and foster a thriving web3 gaming ecosystem,” mentioned Soby, a core contributor to Xai. “We’re poised to implement state-of-the-art practices that may bolster our ecosystem’s involvement and propel our development as gamers see match.”
Gauntlet is a firmly established danger administration agency servicing web3 protocols, together with Arbitrum, Uniswap, and Close to.
“Partnering with Xai aligns with our mission to advance decentralized governance and guarantee long-term sustainability throughout DeFi ecosystems,” mentioned Jake Au Jus, a senior protocol strategist at Gauntlet.
In February, Gauntlet cut up ties with Aave, the biggest DeFi cash market protocol, following a four-year relationship, citing disagreement with the mission’s group. John Morrow, the co-founder of Gauntlet, instructed The Defiant that the conflict stemmed from “the assertion by members of the Aave group that we couldn’t promote software program or companies to different protocols.”
The transfer got here after Aave sought to introduce the Benefit rewards program, which might penalize corporations for partnering with its rivals. Gauntlet started working with Morpho, a competitor to Aave, one week after asserting the cut up.
Xai’s rise to prominence
Xai just lately emerged because the main Layer 2 community by exercise, persistently internet hosting greater than 100 transactions per second (TPS) since launching its Genesis: Vanguard marketing campaign, which launched a roster of on-chain video games alongside a factors marketing campaign to incentivize adoption.
Xai hosted greater than 109 TPS over the previous 24 hours, down from a peak of 140.3 TPS on July 16, in keeping with L2beat.
The mission’s native XAI token is down 8.5% in seven days, final altering fingers at a market cap of $107 million, in keeping with CoinGecko.
