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 threat, and “captur[ing] market upside.” Gauntlet may also deploy time-weighted common pricing methods for leveraged ETH staking and stablecoins on behalf of Xai.
“Our collaboration with Gauntlet represents a significant milestone in our journey to refine Xai’s governance structure, helping to drive more community-first initiatives and foster a thriving web3 gaming ecosystem,” said Soby, a core contributor to Xai. “We’re poised to implement state-of-the-art practices that will bolster our ecosystem’s involvement and propel our growth as players see fit.”
Gauntlet is a firmly established threat administration agency servicing web3 protocols, together with Arbitrum, Uniswap, and Close to.
“Partnering with Xai aligns with our mission to advance decentralized governance and ensure long-term sustainability across DeFi ecosystems,” said Jake Au Jus, a senior protocol strategist at Gauntlet.
In February, Gauntlet split ties with Aave, the largest DeFi money market protocol, following a four-year relationship, citing disagreement with the project’s community. John Morrow, the co-founder of Gauntlet, told The Defiant that the clash stemmed from “the assertion by members of the Aave community that we could not sell software or services to other protocols.”
The transfer got here after Aave sought to introduce the Merit rewards program, which would penalize firms for partnering with its competitors. Gauntlet began working with Morpho, a competitor to Aave, one week after announcing the split.
Xai’s rise to prominence
Xai recently emerged as the leading Layer 2 network by activity, consistently hosting more 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 accordance with L2beat.
The venture’s native XAI token is down 8.5% in seven days, final altering fingers at a market cap of $107 million, in accordance with CoinGecko.
