Gauntlet's different risk management strategies ultimately changed the fate of two major DeFi protocols. As the risk management provider for Compound, Gauntlet carefully manages 69 vaults on Morpho, with a total scale of $1.7 billion. When the Stream Finance incident erupted last November, the true differences surfaced: Gauntlet decisively closed Morpho's positions, perfectly avoiding risk; meanwhile, Compound faced difficulties during the same event, suffering millions of dollars in bad debt losses. The cost of this choice quickly reflected in market prices—today, Morpho's market value is more than three times that of Compound. More notably, a16z completely liquidated its 1 million COMP tokens, perhaps hinting at a reassessment of the protocol's prospects. This case hits the core issue of the DeFi ecosystem: risk resilience determines long-term survival.