Uniswap bolts lending onto the exchange with Earn
The largest DEX's front end now routes idle USDC, USDT and ether into Morpho vaults curated by Gauntlet, charging no Uniswap fee and keeping custody with the user.
Asset manager
Gauntlet Networks, Inc.
A risk-modelling firm that sets and revises the parameters of onchain lending markets, and increasingly curates the vaults those parameters govern, which puts it closer to managing money than advising on it.
The profile
Founded in 2018, Gauntlet built its business simulating the behaviour of onchain lending and trading protocols under stress and recommending the parameters, collateral factors, interest rate curves and liquidation thresholds, that keep them solvent. The work has since moved from advice to mandate: as a vault curator on Morpho it decides where depositor funds are allocated and on what terms, which is a portfolio decision rather than a modelling exercise. Its curation of the USDC vaults behind Uniswap's Earn is the clearest example of a pattern worth watching, in which the consumer brand keeps the relationship and a specialist firm takes the risk decisions.
Coverage
Developments in which Gauntlet Networks, Inc. is a named party, newest first.
On the record
Uniswap launches Earn, routing deposits into Morpho lending vaults
Uniswap Labs launched Earn on 30 July 2026, letting users deposit USDC, USDT or ether on Ethereum mainnet into lending vaults built on Morpho infrastructure with risk parameters curated by Gauntlet. The product is self-custodial, has no lockup or cooldown, and carries no Uniswap fee at launch beyond network costs.