Bell Curve

The Role of DeFi Risk Curators | Adrian & Tarun | S9 E5

Jun 24, 2025
Tarun Chitra, a visionary from Gauntlet, joins forces with Adrian from Steakhouse to explore the crucial role of risk curators in DeFi. They discuss Morpho's groundbreaking fixed-rate lending and the evolving landscape of market dynamics. The duo dives into the challenges of risk management, highlighting institutional demands and brand trust in a competitive environment. Listeners will learn about innovative lending opportunities and the future of specialized infrastructure that could reshape decentralized finance.
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INSIGHT

Morpho's Modular Risk Curation

  • Risk curators modularize risk decisions, enabling faster scaling of DeFi protocols.
  • Morpho was the first to formalize the curator role, separating risk decisions to specialized agents.
ANECDOTE

Gauntlet's Evolution in DeFi Risk

  • Tarun shared Gauntlet's evolution from PoS issuance consulting to active DeFi risk curation.
  • Early DeFi lacked liquidity and governance participation, inspiring new curator models.
INSIGHT

Curator Incentive Dynamics

  • Curator incentives conflict between risk reduction and higher yields from riskier vaults.
  • Vaults can serve as mini DAOs to limit changes, balancing governance and risk appetite.
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