Contract Chaos Labs Risk Management services

Summary

Over the course of several past weeks, Chaos Labs has been providing Risk Management services for Venus and have also built a new Risk Monitoring Dashboard for the Community and fully integrated Venus in their risk management platform.

Chaos Labs is now proposing a 24-month contract for the provision of risk management and optimization services for the Venus protocol.

Reasoning

Over the past year, Gauntlet has been a diligent partner to Venus Protocol. However, their services' impact and cost haven't fully resonated with the community's expectations. In contrast, Chaos Labs has rolled out a remarkable array of software and services, married with a flexible pricing model that better aligns with Venus community's ask's and requirements.

From the outset, we were particularly impressed with the advanced features of the Chaos Risk platform, including the Risk Observability Hub and the Monitoring and Alerting system. Within a mere two-week period, the Chaos team fully integrated Venus, a move that has since proved critical to market analysis and listings. Chaos Labs provided an in-depth analysis of our markets, starting with Isolated Pools before gradually extending to our broader markets.

Chaos Labs has proven to be a considerate partner, syncing their proposal with the prevailing economic conditions and requirements of the protocol. The Chaos proposal, making Chaos the sole Risk Management provider, focuses on growth, with increments tied to Venus's success and expansion. This current proposal is projected to save the protocol a considerable $400,000 annually.

Pricing

-Discounted 24-Month Pricing Model - $400K annually. -Quarterly payment of 100K USD worth of tokens per month.

Coverage includes up to [50] assets across the generalized borrow markets and [8] isolated pools exclusively on the BNB Chain.

Future Scope: Additional $120K annually for Venus deployments on future blockchains, prorated from the launch date.

Benefits

Chaos Labs offers a comprehensive risk management and optimization platform specifically tailored for DeFi protocols. Their strategies aim to secure protocol assets against market volatility, black swan events, liquidity attacks, and instances of market manipulation. Their methodology is rooted in an integrative approach, offering protocol robustness and protecting funds from market risks through dynamic and responsive risk parameter recommendations.

Chaos Labs proposed collaboration is directed towards mitigating risks in volatile markets, countering economic attacks on protocols, and ensuring the secure preservation of user funds.

As an integral part of this partnership, Chaos Labs will provide customized access to the following:

• Risk Management Portal: An extensive portal, including custom risk dashboards for monitoring and alerting on systemic risk and protocol and wallet health.

• Risk Parameter Recommendations: Agent-based simulations to optimize protocol risk parameters.

About Chaos Labs

The Chaos Labs team exhibits exceptional talent and represents diverse expertise, encompassing esteemed researchers, engineers, and security professionals. Chaos Labs has garnered its experience and skills from renowned organizations, including Google, Meta, Goldman Sachs, Instagram, Apple, Amazon, and Microsoft. Additionally, the team boasts members who have served in esteemed cyber-intelligence and security military units, further contributing to their unparalleled capabilities.

For the complete details, scope of work and to explore Chaos Labs past and ongoing projects for customers like Aave, GMX, Benqi, dYdX, Uniswap, Maker, please, see the link below.