Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$34.37KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $34.37K | -- | -- | -- |
| Oct 2026 | $97.27K | -- | -- | -- |
| Sep 2026 | $101.6K | -- | -- | -- |
| Aug 2026 | $75.65K | -- | -- | -- |
| Jul 2026 | $13.18K | -- | -- | -- |
| Jun 2026 | $23.16K | -- | -- | -- |
Comparison
Fundraising
Follow Updates
Follow Lists
People
About Aera Protocol
Aera is a non-custodial onchain treasury management protocol incubated by Gauntlet, serving DAOs and institutions. Two roles split the work: the Owner sets the whitelist of callable contracts and fee parameters, while the Guardian computes rebalancing strategies offchain, and only operations inside the whitelist can execute onchain. It targets volatile treasuries, inefficient manual rebalancing, and the loss of control that comes with handing funds to an active manager.
The offchain-decision, onchain-constraint model gives institutions professional management without surrendering custody, across strategies such as stablecoin yield and leveraged ETH. Contracts are audited by Spearbit and OpenZeppelin, with risk coming from the strategies themselves and from how tight the whitelist is drawn. Iteration is slow and no major version change appeared this year, consistent with an institutional audience for whom stability outweighs features.
In October 2022, Aera, led by Gauntlet founder Tarun Chitra, raised $8 million led by Bain Capital Crypto with Jump Trading participating, aiming to manage DAO treasuries through on-chain vaults.
In 2023, Aera launched two-asset vaults starting with ETH and USDC, with Guardians executing rebalancing, volatility targeting and stablecoin strategies under a non-custodial, auditable model.
In 2024, Aera expanded to multiple Guardians and multi-asset vaults, separating strategy execution from risk control and letting specialist managers compete for the same capital.
In July 2025, Aera V3 went live on Ethereum and Base, adding permissionless multi-depositor vaults. Gauntlet's USD Alpha stablecoin strategy was built on its contracts, turning Aera from a DAO tool into vault infrastructure.
In 2026, Aera scaled alongside Gauntlet, which managed over $1.6 billion in vaults and raised a $125 million Series C led by SBI Holdings. Aera's own TVL is about $110 million, making it a base layer for on-chain capital allocation.
Aera scaled its on-chain vault infrastructure to institutional adoption in 2026. On July 31, Gauntlet launched USDC and bgBTC Earn vaults on Morph (the Bitget-backed L2) built on Aera's vault infrastructure, reaching 125M+ Bitget and Bitget Wallet users, with Gauntlet handling risk management and rebalancing.
On July 9, Aera's developer Gauntlet closed a $125M Series C led by SBI Holdings to expand its vault ecosystem including Aera; Gauntlet now manages over $1.6B across vaults such as Morpho, Aera, Kamino and Drift.
Future strategy and roadmap: Aera v3 combines onchain constraints with offchain computation to recover the speed lost in v2's fully onchain design, with gtUSDa as the minimum viable product starting from USDC on Morpho mainnet and Base before extending to eUSD, syrupUSD and Pendle principal tokens, using cross-chain orchestration and selective leverage to push returns into double digits while keeping a human sign-off before any new asset goes live. The roadmap also includes transparent risk flags inside the vault dashboard, Prime and Frontier tranches segmented by risk, partner vaults that let RWA issuers plug in custom logic, and an SDK opening the infrastructure to external strategists.
Tarun Chitra founded Aera and is chief executive of Gauntlet. He holds joint degrees in mathematics and physics from Cornell, started as a scientific programmer at D. E. Shaw and later traded quant models at Vatic Labs. He founded Gauntlet in 2018 and created Aera in 2023, where he assembled the protocol team.
Rei Chiang is a Gauntlet co-founder with a quantitative research background. He co-founded Gauntlet with Chitra and Morrow in 2018 and supports Aera with economic research and risk modelling.
John Morrow is a Gauntlet co-founder who built out the operating function. He earlier served as an Aave risk adviser and stepped away from that role in 2024 to focus on internal operations and research.
The three split responsibilities cleanly: Chitra sets overall direction and external research, Chiang owns models and data methods, and Morrow runs internal operating processes.
Aera is staffed from Gauntlet's research, risk and engineering people, with separate leads for research, operations and engineering.