Gauntlet

— Solving DeFi’s most complex economic problems

Industry

Crypto, Decentralized Finance

Size

Startup

Solutions

Research

Product Design

Strategy

Creative Direction

Gauntlet

— Solving DeFi’s most complex economic problems

Industry

Crypto, Decentralized Finance

Size

Startup

Solutions

Research

Product Design

Strategy

Creative Direction

Gauntlet

— Solving DeFi’s most complex economic problems

Industry

Crypto, Decentralized Finance

Size

Startup

Solutions

Research

Product Design

Strategy

Creative Direction

Context

Audio Summary

Solving DeFi’s most complex economic problems

0:00

Audio Summary

Solving DeFi’s most complex economic problems

0:00

Audio Summary

Solving DeFi’s most complex economic problems

0:00

Gauntlet drives understanding and adoption in the financial systems of the future, revealing optimal paths for DeFi protocol growth by applying comprehensive risk simulation to rigorous research, maximizing returns while managing potential risks.

DeFi, or decentralized finance, aims to improve on many traditional banking functions with peer-to-peer alternatives on open networks without centralized intermediaries. Addressing current challenges, particularly in security and usability, is crucial for mainstream adoption and long-term success.

Challenge

Challenge

Challenge

Gauntlet wanted to support their business goals by consolidating existing product surfaces, migrating off a 3rd-party backend, and improving the overall product experience. We partnered with Gauntlet to promote their unique DeFi offering across several key dimensions.

Competitive Analysis

Identify areas for differentiation, better understand strategic approaches, dig into interaction details.

Comprehensive User Stories

Provide a common language between stakeholders, think from the user’s perspective, and tailor product features to key user groups.

Product Design and Development

Improve information architecture, cleanup technical debt, and prototype clearer core functionalities.

Key Contributions

Research, Product Design, Strategy

Research

Customer Research

Market Research

Usability Testing

Competitive Analysis

Customer Development

Product Design

UX Design

UI Design

Rapid Prototyping

Visual Design

Information Architecture

Responsive Web Design

Strategy

MVP Definition

Product Vision

UX Strategy

Positioning

Roadmapping

Content Strategy

Team

Alonzo Felix

Matt Kulp

Andrew W.


Key Contributions

Research, Product Design, Strategy

Research

Customer Research

Market Research

Usability Testing

Competitive Analysis

Customer Development

Product Design

UX Design

UI Design

Rapid Prototyping

Visual Design

Information Architecture

Responsive Web Design

Strategy

MVP Definition

Product Vision

UX Strategy

Positioning

Roadmapping

Content Strategy

Team

Alonzo Felix

Matt Kulp

Andrew W.


Key Contributions

Research, Product Design, Strategy

Research

Customer Research

Market Research

Usability Testing

Competitive Analysis

Customer Development

Product Design

UX Design

UI Design

Rapid Prototyping

Visual Design

Information Architecture

Responsive Web Design

Strategy

MVP Definition

Product Vision

UX Strategy

Positioning

Roadmapping

Content Strategy

Team

Alonzo Felix

Matt Kulp

Andrew W.


Solutions

We led efforts to understand Gauntlet’s position via competitive analysis and developing user personas. These efforts helped us prioritize powerful product design and development efforts for Gauntlet’s front and backend systems.

Fig 01

Bringing clarity, structure, and flexibility to a complex environment

Fig 01

Bringing clarity, structure, and flexibility to a complex environment

Fig 01

Bringing clarity, structure, and flexibility to a complex environment

Fig 01

Bringing clarity, structure, and flexibility to a complex environment

Research

Research

Research

Research

To ground the product strategy and set a clear design direction, we conducted a targeted analysis of adjacent tools ranging from crypto-native platforms to traditional financial dashboards. We examined how other products structured their navigation, surfaced complex metrics, and guided users through layered functionality.

This work helped us identify patterns, gaps, and conventions, as well as where Gauntlet could stand out in clarity and control. The findings shaped our design principles and prioritization, informing everything from structural decisions to visual pacing.

Understanding the landscape allowed us to identify differentiation opportunities for Gauntlet, particularly through clarity, structure, and usability, without sacrificing the rigor that defines its models.

Insights

01

Know your neighbors

We benchmarked competitors across UX patterns and mental models to surface gaps and clarify Gauntlet’s distinct approach to surfacing risk.

02

Form follows function

Gauntlet’s opportunity wasn’t just in visual upgrades, but in organizing information in ways others hadn’t, centering real-world decision-making needs.

03

Differentiate with restraint

We recommended staying focused on core value delivery, rather than over-indexing on technical novelty or visual complexity.

Fig 02

Rethinking how users enter and navigate risk data from the start

Fig 03

Competitive brand scans revealed whitespace for a more structured, confident design language

Fig 02

Rethinking how users enter and navigate risk data from the start

Fig 03

Competitive brand scans revealed whitespace for a more structured, confident design language

Fig 02

Rethinking how users enter and navigate risk data from the start

Fig 03

Competitive brand scans revealed whitespace for a more structured, confident design language

Fig 02

Rethinking how users enter and navigate risk data from the start

Fig 03

Competitive brand scans revealed whitespace for a more structured, confident design language

Strategy

Strategy

Brand and Positioning

Strategy

To align Gauntlet’s product, design, and engineering teams around user needs, we developed a detailed set of user stories that reflected how different audiences—protocol teams, DAO participants, large token holders—engage with the platform.

These stories gave shape to the product’s core use cases and helped clarify what each audience needed to see, do, and understand at each step. Internally, they became a shared reference point, streamlining prioritization and reducing ambiguity during design and implementation. The result was a product strategy more grounded in behavior, less reliant on assumptions, and easier to scale across teams.

We developed user stories that helped internal teams prioritize from the user’s point of view, bridging strategy, design, and execution.

Insights

01

Build from the outside in

Thinking from the user’s perspective helped internal teams reframe design decisions as user outcomes, not just implementation challenges.

02

Model behavior (not just goals)

Our stories not only captured what users wanted, but how they actually moved through the product, revealing overlooked friction points.

03

Speak the same language

Creating shared reference points helped streamline collaboration across teams, allowing for reduced ambiguity and more efficient decision making.

Fig 04

Adopting a more purposeful brand tone and voice

Fig 05

Extending brand expression into compact, flexible formats

Fig 06

Visual language designed to resonate across user types

Fig 07

A content strategy prioritizing what matters most

Fig 08

Logomark expressing the rigorous approach of Gauntlet's simulations

Fig 09

Physical applications reinforce design and tone

Fig 04

Adopting a more purposeful brand tone and voice

Fig 05

Extending brand expression into compact, flexible formats

Fig 06

Visual language designed to resonate across user types

Fig 07

A content strategy prioritizing what matters most

Fig 08

Logomark expressing the rigorous approach of Gauntlet's simulations

Fig 09

Physical applications reinforce design and tone

Fig 04

Adopting a more purposeful brand tone and voice

Fig 05

Extending brand expression into compact, flexible formats

Fig 06

Visual language designed to resonate across user types

Fig 07

A content strategy prioritizing what matters most

Fig 04

Adopting a more purposeful brand tone and voice

Fig 05

Extending brand expression into compact, flexible formats

Fig 06

Visual language designed to resonate across user types

Fig 07

A content strategy prioritizing what matters most

Fig 08

Logomark expressing the rigorous approach of Gauntlet's simulations

Fig 09

Physical applications reinforce design and tone

Product Design and Development

Product Design and Development

Product Design and Development

Product Design and Development

Gauntlet’s product had grown quickly across multiple dashboards and protocols, creating inconsistencies both in the interface and under the hood. While its offerings were powerful, the complexity caused cognitive overhead for users and technical debt for internal teams. We worked with product and engineering teams to streamline information architecture and simplify navigation, while also supporting a backend migration that reduced technical debt and improved long-term maintainability.

This dual-track approach led to a product that was both easier to use and easier to expand. We delivered prototypes, structure recommendations, and UX principles that scaled across Gauntlet’s growing protocol and user base.

We helped streamline both the interface and the underlying systems, making the product easier to use, easier to navigate, and easier to maintain.

Insights

01

Reduce surface, increase signal

We consolidated entry points and surfaced key views earlier, making it easier for users to find insights and take action.

02

Clarity without compromise

We introduced progressive disclosure and contextual guidance that supported learning without hiding the product’s sophistication.

03

Build front to back

UX simplification was matched by backend cleanup, enabling smoother navigation, more consistent user states, and fewer rendering inconsistencies across protocols.

Fig 10

Modular UI elements support clarity and reusability across protocols

Fig 11

Redesigned summaries bring key metrics into clearer focus

Fig 12

Surfacing live risk signals without adding interface friction

Fig 13

Layered views make complex information more legible

Fig 14

Icon updates help reinforce structure across product areas

Fig 15

Revamped market details for ease of research

Fig 10

Modular UI elements support clarity and reusability across protocols

Fig 11

Redesigned summaries bring key metrics into clearer focus

Fig 12

Surfacing live risk signals without adding interface friction

Fig 13

Layered views make complex information more legible

Fig 14

Icon updates help reinforce structure across product areas

Fig 15

Revamped market details for ease of research

Fig 10

Modular UI elements support clarity and reusability across protocols

Fig 11

Redesigned summaries bring key metrics into clearer focus

Fig 12

Surfacing live risk signals without adding interface friction

Fig 13

Layered views make complex information more legible

Fig 14

Icon updates help reinforce structure across product areas

Fig 15

Revamped market details for ease of research

Fig 10

Modular UI elements support clarity and reusability across protocols

Fig 11

Redesigned summaries bring key metrics into clearer focus

Fig 12

Surfacing live risk signals without adding interface friction

Fig 13

Layered views make complex information more legible

Fig 14

Icon updates help reinforce structure across product areas

Fig 15

Revamped market details for ease of research

Outcomes

DeFi’s critical infrastructure relies on Gauntlet's expertise and recommendations, advancing the industry’s understanding of crypto-native economics with powerful predictive capabilities for risk management and pattern-matching.

Our work for Gauntlet began with understanding the market and their users, informing what different audiences needed for the platform, and where they could differentiate. From there, we paired UX improvements with backend architecture updates to simplify navigation, reduce redundancy, and create a scalable framework across protocols.

This work prompted accelerated rollout from key partners, including top protocol companies, and led to hands-on collaboration with leading protocols working closely with the Gauntlet team to implement the redesigned product in ways that supported their most important data and product priorities.

Migration from 3rd party service

100%

Migration from 3rd party service

100%

Migration from 3rd party service

100%

Migration from 3rd party service

100%

major product prototypes delivered

3

major product prototypes delivered

3

major product prototypes delivered

3

major product prototypes delivered

3

Protocols supported at launch

10+

Protocols supported at launch

10+

Protocols supported at launch

10+

Protocols supported at launch

10+

Press

December 2022

Harvard Business School

Ribbit Capital and the Gauntlet Investment Opportunity

Ten-year-old, Palo Alto-based Ribbit Capital is best-known for its global investments in fintech. The firm was also an early advocate of crypto and blockchain, having invested in more than two dozen startups…

December 2022

Harvard Business School

Ribbit Capital and the Gauntlet Investment Opportunity

Ten-year-old, Palo Alto-based Ribbit Capital is best-known for its global investments in fintech. The firm was also an early advocate of crypto and blockchain, having invested in more than two dozen startups…

December 2022

Harvard Business School

Ribbit Capital and the Gauntlet Investment Opportunity

Ten-year-old, Palo Alto-based Ribbit Capital is best-known for its global investments in fintech. The firm was also an early advocate of crypto and blockchain, having invested in more than two dozen startups…

December 2022

Harvard Business School

Ribbit Capital and the Gauntlet Investment Opportunity

Ten-year-old, Palo Alto-based Ribbit Capital is best-known for its global investments in fintech. The firm was also an early advocate of crypto and blockchain, having invested in more than two dozen startups…

March 2022

Bloomberg

A Wall Street Quant Turns His Crypto Firm Into a Unicorn

Gauntlet raised $23.8 million Series B at a $1 billion valuation

March 2022

Bloomberg

A Wall Street Quant Turns His Crypto Firm Into a Unicorn

Gauntlet raised $23.8 million Series B at a $1 billion valuation

March 2022

Bloomberg

A Wall Street Quant Turns His Crypto Firm Into a Unicorn

Gauntlet raised $23.8 million Series B at a $1 billion valuation

March 2022

Bloomberg

A Wall Street Quant Turns His Crypto Firm Into a Unicorn

Gauntlet raised $23.8 million Series B at a $1 billion valuation

January 2024

Forbes

The Future Of Crypto And Blockchain: Fintech 50 2024

From a blockchain forensics firm to a startup that manages risk for decentralized finance platforms, three crypto companies made our ninth annual Fintech 50 list this year.

January 2024

Forbes

The Future Of Crypto And Blockchain: Fintech 50 2024

From a blockchain forensics firm to a startup that manages risk for decentralized finance platforms, three crypto companies made our ninth annual Fintech 50 list this year.

January 2024

Forbes

The Future Of Crypto And Blockchain: Fintech 50 2024

From a blockchain forensics firm to a startup that manages risk for decentralized finance platforms, three crypto companies made our ninth annual Fintech 50 list this year.

January 2024

Forbes

The Future Of Crypto And Blockchain: Fintech 50 2024

From a blockchain forensics firm to a startup that manages risk for decentralized finance platforms, three crypto companies made our ninth annual Fintech 50 list this year.

  • Humanity

    Nature

    Technology

Get in touch

We believe in a more prosperous future — come build it with us.

San Francisco

Washington DC

© Working Group 2025

All Rights Reserved.

FACT

XR (AR/VR) is emerging as a tool for more sustainable manufacturing, enabling environmental simulation, optimization, and planning in Industry 5.0 contexts.

FACT

XR (AR/VR) is emerging as a tool for more sustainable manufacturing, enabling environmental simulation, optimization, and planning in Industry 5.0 contexts.

FACT

XR (AR/VR) is emerging as a tool for more sustainable manufacturing, enabling environmental simulation, optimization, and planning in Industry 5.0 contexts.