DeFi risk management giant Gauntlet sees $380 million exit as OKX crypto campaign ends

Gauntlet, a major DeFi risk management firm, experienced a 22.84% drop in its Total Value Locked (TVL), losing approximately $380 million over the past week, falling to $1.325 billion from a peak of $1.72 billion. The primary cause identified by Gauntlet was the conclusion of OKX's pre-deposit campaign on the Katana blockchain, which incentivized users to deposit capital ahead of a protocol launch. Gauntlet, which sets risk parameters for lending systems rather than holding funds directly, noted that the asset outflows were predominantly stablecoin-based. The firm stated that such sharp TVL swings are common following incentive campaign endings or token airdrops, and they have successfully navigated similar large capital movements in the past through active reallocation and market adjustments.

(Source：CoinDesk)