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Aera V2 Review 2026: Onchain Treasury Vaults for DAOs

Aera V2 is an onchain treasury management protocol from the Gauntlet team, built for DAOs that want automated, non-custodial vault strategies. It holds roughly $46.7M in TVL, but the V2 docs are archived and the app is described as closed beta.

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

7.2/10

Good

Visit Aera V2

Our verdict on Aera V2

7.2/10

Aera V2 suits DAOs and onchain treasuries that want guardian-run strategies such as stablecoin yield, protocol-owned liquidity or volatility targeting, without giving up custody. Its main strengths are the Gauntlet pedigree, cited audits and owner-set allowlists. The main caveats are the closed beta, the archived V2 docs and the unpublished fees. Treasury teams should confirm current availability and review the audits before depositing.

Score breakdown

How Aera V2 scores

Security: 7.5/10
Ease of use: 6.0/10
Fees: n/a
Features: 7.5/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Aera V2?

Aera V2 is an onchain treasury management protocol built by the team at Gauntlet, a firm known for DeFi risk research. It lets DAOs and other onchain treasuries put funds into vaults managed by guardians under owner-defined rules.

DefiLlama lists it under Onchain Capital Allocator, with about $46.7M in TVL across Ethereum, Base, Polygon and Arbitrum. It has been listed since March 2024 and has no token. Public reporting shows DAO use cases, including a Compound service provider payments proposal and a treasury diversification effort with Threshold DAO.

Two caveats stand out. The homepage says the app is in closed beta, and the docs label V2 as an archive, which points to a newer version. Readers should confirm what is currently available.

How Aera V2 works

Aera uses vaults. A DAO or treasury owner deposits assets into a vault and picks an objective, such as earning stablecoin yield or reducing volatility. The owner also sets which assets and protocols the vault may use.

Guardians, described as experienced risk analysts, run the strategy onchain within those limits. Examples from the homepage include spreading stablecoins across lending protocols and rebalancing as conditions change. The owner keeps the ability to deposit and withdraw.

The roadmap describes three stages: a two-asset ETH and USDC vault in 2023, multiple guardians and multi-asset vaults in 2024, and a decentralized network of guardians competing to propose strategies in 2025. The project does not confirm the final stage.

8 features

Key features

Automated vault execution

Guardians handle onchain execution once assets are in the vault, so treasury teams do not have to manage each trade.

Owner-set allowlists

Vault owners set allowlists of assets and protocols the vault can interact with, limiting what guardians can do.

Non-custodial design

Funds stay under owner control, and only the vault owner can deposit or withdraw.

Stablecoin yield strategy

Stablecoins are spread across several lending protocols and rebalanced to seek yield while limiting risk.

Volatility targeting

Dynamically rebalances treasury assets to reduce volatility as market conditions change.

Protocol-owned liquidity

Uses protocol-owned assets to bootstrap liquidity, aiming to reduce slippage and generate fees.

Grants and incentives

Supports grants in native tokens or stablecoins with best-price execution and low price impact, plus incentive optimization.

Public vault dashboard

Transactions occur onchain and can be reviewed on a public vault dashboard.

Pros and cons

What we like

Built by Gauntlet, a team with DeFi risk research experience.
Non-custodial: only the vault owner can deposit or withdraw.
Owner-defined allowlists restrict which assets and protocols a vault can use.
Audits by Spearbit and OpenZeppelin are cited, with bug bounties mentioned.
Vault activity is onchain and visible on a public dashboard.
Clear use cases for DAOs, including POL, trade execution and stablecoin yield.

Watch out for

The homepage says the app is in closed beta, so access may be limited for new users.
Docs list V2 as archived, which suggests development has moved to a newer version; how that affects V2 vaults is not stated.
Strategies depend on guardians and third-party lending protocols, which adds counterparty and smart-contract risk.
No fee schedule is published on the homepage, so costs are hard to compare before onboarding.
The roadmap's 2025 goal of fully decentralized guardians is not confirmed as delivered.
It targets DAOs and treasuries, so it has little use for casual retail users.

Aera V2 fees

Fees are not published publicly available. The homepage does not give a fee schedule for vaults or guardians.

Users should check the Aera documentation and the vault dashboard before depositing. Onchain gas costs and fees on underlying lending or trading venues would also apply.

Is Aera V2 safe?

The homepage cites audits by Spearbit and OpenZeppelin and ongoing bug bounties; DefiLlama lists two audits. Vaults are non-custodial and limited by owner allowlists, which narrows what guardians can do. Audits reduce risk but do not remove it.

Risks remain from smart contracts, guardian decisions and the lending protocols used by strategies, especially leveraged ETH yield. The project does not mention any hacks or incidents. The V2 docs are archived, so check which version holds your funds and whether it is still supported.

6 steps

How to get started with Aera V2

1
Read the Aera docs, including the V2 and V1 audit reports, to understand how vaults and guardians work.
2
Confirm that the app is open to your organization, since the homepage says it is in closed beta.
3
Define a treasury objective, such as stablecoin yield, volatility targeting or protocol-owned liquidity.
4
Set the vault's allowlist of assets and protocols it may use.
5
Deposit assets into the vault from the owner address.
6
Monitor performance on the public vault dashboard and review guardian activity.

Open Aera V2

Who Aera V2 is for

Aera V2 is for DAO treasurers, protocol teams and other onchain organizations that want automated, rules-based treasury management. It is not aimed at individual users looking for a simple yield product.

Aera V2 FAQs

What is Aera V2?

Aera V2 is an autonomous onchain treasury management protocol for DAOs, built by the team at Gauntlet. Users deposit assets into vaults, and guardians carry out strategies within limits the vault owner sets.

Is Aera V2 non-custodial?

The homepage says it is non-custodial and that only the vault owner can deposit or withdraw. Owners set allowlists of assets and protocols the vault may use. Smart-contract and strategy risk still apply.

Which chains does Aera V2 support?

DefiLlama lists Aera V2 on Ethereum, Base, Polygon and Arbitrum.

Does Aera have a token?

No. DefiLlama lists no token for Aera V2. A search result for an Aera token on Metis refers to an unrelated project called Aerarium Fi.

Has Aera been audited?

The homepage names Spearbit and OpenZeppelin as auditors and mentions ongoing bug bounties. DefiLlama lists two audits. The V1 and V2 audit reports are linked from the site.

What strategies does Aera support?

The homepage lists volatility targeting, stablecoin yield, ETH yield, protocol-owned liquidity, grants distribution and incentive optimization. Public public reporting mentions uses by DAOs such as Compound, Threshold and Arbitrum for treasury work.

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