Gearbox ⚙️🧰 Protocol
@GearboxProtocol
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Lending reimagined ✨ Building a permissionless credit layer for everyone to enjoy. Access 10x credit across DeFi or earn passive yields: https://t.co/Ad0LNr8gpY
$GEAR
Joined September 2017
8K+ users, $4M revenue, $2B+ volume, 2024 was remarkable for Gearbox. But to unlock untapped distribution, to scale credit permissionlessly, to stage Gearbox's breakthrough, we need more. More Than Just Leverage. Read what's in store for 2025: ⚙️🧰.
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0xCider ended today, delivering all its goals. Now with the token becoming transferable, the "Wen?" has become "What?" . So let us answer the most asked questions including token details, what you can do with it, possible utility and FAQ. ⚙️🧰. Read here:
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📢 The 1st stage of the VIBES community program is live! If you want to help Gearbox grow in socials & earn some @poapxyz & $GEAR in the process - join up 🫡 To start, pass an easy quiz & wait for further details. ps: inside, a social giveaway promo 👀.
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𝘈𝘯𝘥 𝘵𝘩𝘦𝘯 𝘭𝘪𝘵𝘵𝘭𝘦 𝘳𝘰𝘣𝘰𝘵𝘴 𝘴𝘢𝘪𝘥 “𝘭𝘦𝘵 𝘵𝘩𝘦𝘳𝘦 𝘣𝘦 𝘝2“. And there it was, composable leverage reimagined: a more flexible system that would still be as decentralized, trustless & immutable as possible ⚙️🧰. Today, we open the code, audits, &. all 🧵
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No more waiting, Gearbox PURE is now live in alpha testing! 🍀. Leverage trade with the deepest liquidity of @Uniswap, @CurveFinance, and others. No funding rates. No perps. Only the most PURE stuff. ⚙️🧰
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By letting users on either side [passive <> alpha] make their own choices - the market can direct the flow. This makes the balance of APY easier and quicker, because new protocols making more %% for leverage users - automatically translates into passive side making % more too!
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Credit Account Mining is now over, thank you!. The work is about to start, & votes are to begin in less than a day. Get your tokens ready for the snapshot page so we can launch the full protocol mid next week after all the parameters are decided upon ⚙️🧰
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GEARBOX V2 ⚙️🧰 LIVE. Oeef, 6 hours of social madness & constant monitoring! But things are normalizing now, so we can write a thread on what all the fuss is about. "OK $100M+ TVL, who cares, why is it even there, what can I do, where is alpha and who are Ninjas?!". Let's go 🧵
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Let's talk about #governance 🗳️. Today’s piece is about concerns arising from the risks of centralization & single-entity ownership, and how to make the #DAO systems we build — more resilient! With Gearbox, token holders have always had the final say. 𝘩𝘰𝘸 𝘵𝘰 𝘥𝘢𝘰 🧵
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STARTING UP THE ENGINES ⚙️🧰 BE READY. 1. open-source code & security disclosure: today.2. deployment start & protocol live: tomorrow.3. pools open & aping begins: tomorrow-Thursday . SOUND ON 🔊
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Ahhhhh mr. delegatoooor 🤖⚙️🧰 . Claim & delegate your $GEAR tomorrow [just claim, transferability has not been approved yet]! Later this week, a few proposals shall be unleashed for everyone to vote on: TVL limits, CA limits, DAO contributors, and more.
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Have you ever wanted to get leverage on your favorite #DeFi protocol? To be able to margin trade on @Uniswap or @SushiSwap; leverage farm on @iearnfinance; arbitrage pegged assets on @CurveFinance & so on?. We're building that! The first article is out 👇.
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Leveraged @eigenlayer restaking is now live: ⚙️🧰. Earn upto 9.5x EIGEN points and 19X @ether_fi points on Gearbox. Details here:
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Gearbox V3. Launching Q2, 2023. Time to Redefine Leverage, Redefine Lending. ⚙️🧰
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What if. A part of V3 launched in the next couple of weeks? 👀⚙️🧰
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Are you ready to play a game w Leverage Sensei? ⚙️🧰
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If you were to queue up lending protocol users, they would line up to cover about 60% of California's length. In contrast, queueing up all Web3 wallet users would encircle Earth's circumference 1.3 times over. The potential for wallet native Credit is magnitudes larger. ⚙️🧰
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1.5 years, 3 Gearbox Versions and so much built. Without a doubt, though, the greatest thing we have been able to build is this community. From our weekly poker to daily banter, you make us, us. And here's to you, GEARHeads:
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𝗠𝗢𝗗𝗨𝗟𝗔𝗥 𝗟𝗘𝗩𝗘𝗥𝗔𝗚𝗘 / 𝗟𝗘𝗡𝗗𝗜𝗡𝗚. Your borrowers want 1:1 oracles to avoid liquidations, yet lenders want real oracles, to be safer. How to satisfy both? We believe we found a way 🧵. A monster thread on modular lending. Link to a 14-page piece at the end.
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Sorry to make you wait for the new tokenomics. Sorry to make you wait for @Balancer & @AuraFinance. Sorry for the other V3 upgrades but, honestly. Security doesn't wait. 🫡🛡️. The upcoming update will have V3's security module, cbETH's LLSD addition & 40% yields with @MIM_Spell
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The wait is over. The next step to become the base layer of Leverage in DeFi, the next step to Redefine Lending & Leverage. Gearbox V3 ⚙️🧰. @Balancer and @AuraFinance integrations, Tokenomics, Alpha Lend Pools with higher APYs, L2 capability and more:
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Leverage up the internet bond. Leverage up USDe and and sUSDe. Leverage up @ethena_labs. Earn upto 90X Shards on Gearbox from 11th March. ⚙️🧰
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Aaaand. is done 🔐 Incredible. 1500 $ETH hit within 60 seconds, and closing off 3000 $ETH max limit at the 30 minute mark. The contract no longer accept anything. Final settlement price 3000*1287/133997000 = $0.0288, $23M CMC. "I aped, wtf did I do" time to research 🧵
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2023 has been a busy year and there's still a lot to come. We have made it easier for you to catch up with Gearbox's 2023. Read below article for updates on.⚙️ Tokenomics.⚙️ L2s.⚙️ Yearn, Frax and Balancer lending to Gearbox.⚙️ Leverage trading on Gearbox.
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"Wen Token?.Wen T.We.Welc.Welcome Token?". Been waiting for the update on $GEAR transferability? No more waiting, read below to know when the vote goes live, when the possible unlock could be and the entire mechanism of the unlock. ⚙️🧰. Learn more, here:
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One of the students broke into Leverage Sensei's office last night and took a 📸 A mysterious shining box that has previously been closed - is now shining & radiating light 🌟 What could be the cause of this? What is Leverage Sensei working on?. 𝔗𝔥𝔢 𝔰𝔱𝔬𝔯𝔶 𝔟𝔢𝔤𝔦𝔫𝔰.
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With V2 credit accounts now hours away, let us unveil the final gear of the puzzle. Presenting, @ConvexFinance. Time to magnify those APYs. 🔍⚙️🧰
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From the highs of the V3 announcement to the uncertainty thrown in by the USDC depeg. March kept us all on our toes as we kept building. ⚙️ V3 details.⚙️ USDC depeg management.⚙️ Gearbox on L2s.⚙️ Financial Update. Soak in March's work in one go: ⚙️🧰.
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For the first time, Gearbox brings to you composable Leveraged staking. Enabled by our latest adapter integration @LidoFinance. Time for Water to meet fire, so hold on, your APYs go full steam ahead. 🔥💧. Read the details here:
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The average size of a Gearbox CA is over $600k. This means even small fluctuations lead to significant changes in the P&L. Making protection against MEV vital. That is why we are partnering with @CoWSwap, @beaverbuild & @AgnositcRelayer to bring you ⛱️.
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5,000 Credit Accounts to mine. 55,000+ eligible addresses. 2.5M in gas costs to deploy each one ❤️🔥 5% GEAR. Become one of the early DAO members & decide the future of composable leverage 2.0! FCFS. Special UI inside 💻 Dec 16 - 15:00 UTC * approx. ⚙️🧰
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With V2 less than a month away, we are in the endgame stage now. And here’s the gameplan. -> all you need to know about the LM, $GEAR transferability, the possible auction, some plans, and how we evolve your everyday game. The Gearbox V2 roadmap ⚙️🧰🔝.
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Merry Chr. chronic fomo! 🎅 . Composable leverage is LIVE: 0% funding rates, no new trading interfaces & all on-chain 🥳 Do what you are already used to - but with 4x leverage. The list of integrations is growing to allow for best composable strategies!.
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Respect the degeneracy 🫡🫡 Almost 3x more votes for tokenomics than better protocol security. Luckily, this isn't a DAO vote but here's the list of things the devs are building and the 4 out of which 1 will actually get launched 👀👇.
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On Gearbox 🧵. The past, the present, the future.
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Goodbye, Kovan 💤 . Good Morning, Goerli 🦧. Welcome, Gearbox V2 ⚙️🧰
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With GIP-51 approving, $GEAR bribes to the bb-g-USD pool will now be starting. @Balancer/@AuraFinance have lent over $3.3M to the Gearbox pools through bb-g-USD in order to boost yields for their users. The bribes are intended to help increase the value lent to Gearbox pools.
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GEAR up ❤️🔥 * Guide -> * Contract -> * GitHub ->
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And so it begins - DAO-First Launch 🤩. 𝒜𝓁𝓈𝑜 𝓀𝓃𝑜𝓌𝓃 𝒶𝓈 𝓉𝒽𝑒 𝓃𝒾𝓃𝑒 𝒸𝒾𝓇𝒸𝓁𝑒𝓈 𝑜𝒻 𝒽𝑒𝓁𝓁. Initial core team won't retain control of any contract, the code will be open-source, & community will decide even the initial pools. Join the ceremony & become a DAOoor
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⚙️ $GEAR UP, passive LP LM starts tomorrow!. The LP LM program is planned to go live tomorrow $DAI $USDC $ETH $wstETH $WBTC optimized for +10% APYs. Exact block height: 15820000. For Leverage Ninjas [Credit Accounts] LM will begin on 27-28th 🥷. APE IN 🦧
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A year since 5000 of you got together to help us set up what has been the core of our tech, our ability to be composable and our very belief in the project. Here's to the miners who spent $7.2m on gas to begin this journey. 🫡. Happy 1 year of Gearbox Credit Accounts 1⃣ ⚙️🧰
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Please disregard the morning twitter spam: VIBES are trying different social & engagement tactics, and this one maybe went a bit too far 🫡 Do tag us again in a couple of days when this settles down, currently all mentions are flooded. Have some memes for now:
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Cider $GEAR Liquidity starts tomorrow 🍾.- dec 13-14: GEAR deposits.- dec 15-16: ETH deposits.- dec 17-23: FairTrading period.- dec 23+ LM & full transferability. FCFS 🫡 Contract [audited] & interface will be deployed in a few hours. Info on CMC & more:.
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Gearbox's Composable leverage has always fascinated people but how is it working?. The average user is earning over 14% APY on their leveraged positions while the worst one is at -4.4% loss. How?. Read to learn how our Ninjas maximise capital efficiency on their leveraged plays🧵.
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The DAO vote to add @CurveFinance V2 pools went through. We were looking at the output APYs and here's a sneak peak. LP upto 5 times of your assets for 100%+ APYs natively on Curve and @ConvexFinance.🤯⚙️🧰
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Be careful with random DMs or fake listings: nobody will offer you anything, Gearbox DAO doesn't have a "CEO". Also, there are different $GEAR in existence (some fake; some with same ticker). Always verify!. ⚙️ 0xba3335588d9403515223f109edc4eb7269a9ab5d.
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Sober up, degens, we have work to do 👨🏭🤖 The new wave of DeFi isn't going to build itself. V2 is practically around the corner, with new assets & protocol integrations to be up for voting in a few weeks! Are you ready to leverage in @CurveFinance @LidoFinance & @ConvexFinance?
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What do you think the early-V3 update module will be? ⚙️🧰.
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New protocol from scratch in 1 year 🥳 . Next up: new audits, credit accounts limits up, TVL limits up, new adapters, GEAR transferable, new integrations, new users up. up only. Watch it! Actually, don't just watch - participate and build together with Gearbox DAO ⚙️🧰
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Gearbox is a composable leverage protocol. But what does this composability look like?. ⚙️ 5 protocols & 10,243 unique lenders.⚙️ 6 lending pools & $OHM upcoming.⚙️ 15 coins on which you can access leverage.⚙️ 6 integrated protocols & 2 more with V3. And that's Composability ⚙️🧰
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Leverage on USDe and sUSDe is now live. Earn upto 90X shards on USDe and 45X on sUSDe with a boost from @ethena_labs. Details: Leverage Anything, Leverage Ethena: ⚙️🧰
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𝗙𝗿𝗶𝗲𝗻𝗱𝗹𝘆 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝗶𝘀 𝗟𝗜𝗩𝗘 🫵 𝗣𝗼𝗶𝗻𝘁𝘀 𝗦𝟮. 𝘞𝘩𝘢𝘵 𝘪𝘴 𝘵𝘩𝘦 𝘴𝘦𝘤𝘰𝘯𝘥 𝘣𝘦𝘴𝘵 𝘵𝘩𝘪𝘯𝘨 𝘢𝘧𝘵𝘦𝘳 𝘓𝘙𝘛, 𝘌𝘪𝘨𝘦𝘯𝘭𝘢𝘺𝘦𝘳 𝘢𝘯𝘥 𝘌𝘵𝘩𝘦𝘯𝘢 𝘱𝘰𝘪𝘯𝘵𝘴? - There is no second best! That's the best the market offers right now. And we
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Introducing, Gearbox V2.1. To redefine the security standards of our already battle tested protocol. ⚙️🧰🛡️. Along with LLSD expansion and @MIM_Spell addition. Read here:
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[GIP-1/2/3/4/5] are live ⚙️🧰 Ahhh i am a vootoor!. It’s time to put your GEARs to work and vote for the initial set of parameters, pools, assets, & more - to get Gearbox live. Connect your wallet & cast your votes. 3 day period with a high quorum🗳️ 1/N
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The launch of V2.1 wasn't the end of building, it was the first step to build the protocol even faster. 🫡. @CurveFinance V2's higher APY pools soon on Gearbox? . Comment which ones you would like to see. ⚙️🧰
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Degening is hard. Between keeping up with the CeFi scams and replying to all the "gm"s, who has the time to actively make money? 😰. Let us make it easier for you with our GEAR LM program. LP in to earn $GEAR rewards + yield passively here: ⚙️🧰
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10 months of work & now 10 days away 🤩 Gearbox V2 is planned to launch on 27th October. Below is a breakdown of what happens between now and when we finally deliver the next big step for composable leverage to you ⚙️🧰. * +- a couple days for voting & re-connecting it all
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What has been happening so far, what do users do? This article is a recap of the 1st month of Gearbox Protocol life as well as Gearbox DAO coordination:. - protocol & user stats.- unexpected rewards to active contributors .- the next steps for ⚙️🧰 & more.
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Cider'ed Liquidity 🍾 won [GIP-31] . $GEAR launch will thus be following a very interesting model, starting in ~2 weeks. Although the SC of cider auction is simple, it will be audited by @chain_security 🛡️. Explainer thread on below!.Forum discussion here:
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Degening through a choppy market and getting rekt is tough to manage. Let us make it easy for you, earn passively by supplying your ETH and stables to the no-IL Gearbox lending pools. Hold your bags and earn on them too.⚙️🧰
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There's a new proposal up at @OlympusDAO that intends to provide initial capital to bootstrap an $OHM pool in Gearbox's lending market. ⚙️🧰. You can read the complete details here:
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Core contributors wanted to stay silent, focusing on tech - but we can't have such privilege when innocent human lives are lost every day 🇺🇦 Our family members & friends in Ukraine too - were and still are in mortal danger caused by this terrible inhumane war. Stop the war. .
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Gearbox users earned Shards worth $6.8M in @ethena_labs's S1, earning upto 90X shards. Season 2 of Ethena brings you Sats-- But, this time, you can earn upto 𝟭𝟴𝟬𝗫 𝘀𝗮𝘁𝘀 𝗼𝗻 𝗚𝗲𝗮𝗿𝗯𝗼𝘅. ⚙️🧰
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While the devs are busy building, here's some initial sneak peak on the V2 UI designs and new features!. One-clic ready Strategies. Upgraded windows. Cross-collateral. Portfolio margin. Direct farm rewards claim ⚙🧰. Tag the protocols you can spot for some early VIBES rewards 😉
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0xcider 🍾 audit came back, all good! The $GEAR launch machine is almost ready too. Last touches on the interface. Dec-13-14?! 👀 Get your $ETH ready too, FCFS!
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Bunny out of the bag 🐇🐰 Learn how to earn leveraged APYs in our latest potential adapter integration - @iearnfinance . * 30% APYs made possible on Yearn.* Multiple NEW vaults being added. Check the know-how & user guides to be ready ⚙️🧰.
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Want to lever up but tired of losing profits in funding fee? We could tell you that you can access leverage at the lowest rates on Gearbox. But that misses the part where your leveraged position can earn 15%+ yields by being deployed across DeFi strategies, through Gearbox ⚙️🧰
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Leverage Sensei has arrived 🤖 Go take your $GEAR from him and delegate to the best candidate out there ⚙️🧰
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3 months ago, we brought to life the first glimpse of Gearbox's potential. 3 months ago we saw our TVL increase by $100M+ in 3 days as we took the first step to become the Base Layer of Leverage in DeFi. What we couldn't see, though, were the tech upgrades that enabled this🧵
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The biggest differentiation for a DAO is that there is no hidden alpha. All the building happens with transparency. With that in mind, here's the April DAO update for you to quickly know all the key things discussed & developed last month. Link: or 👇🧵.
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𝘓𝘰𝘰𝘬, 𝘯𝘦𝘸 𝘎𝘦𝘢𝘳𝘣𝘰𝘹 𝘴𝘵𝘢𝘵𝘴! - 𝘠𝘦𝘴 𝘩𝘰𝘯𝘦𝘺. Just 3 days after launch, Gearbox V2 is now at ~$106M in the pools, whereas $51M ⚡️ is borrowed for farming/trading + ~9M in leverage users' collateral = approximately $115M TVL. Let's look into some stats 🧵
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The future they show us versus the future we are building.
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The work is ongoing on all fronts 🎆. Here is a sneak peak into the User Interface revamp by Mikael, who has been busy with since December 31 [he forgot to take days off]. Soon available on Kovan, and then on staging & mainnet. Sound on 🐢.
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Due to a depeg of $ezETH reported by @redstone_defi oracle, a few Credit Accounts were liquidated. No bad debt was incurred by Gearbox passive lenders. However, liquidations are never pleasant. Will be back shortly with a full recap on what happened.
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GEAR Token [not yet live nor deployed, don't get scammed] and Governance 🤖 Reverse Voting Escrow. Today, our planet is being invaded by the jawas, empire clones, the jedi! But wait a second… it’s not an attack. They are getting together to form a DAO 🪐.
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The response to leveraged @eigenlayer restaking has been phenomenal, hitting the 2.5K ETH restaking limit in under 24 Hours 🔥. But, we heard you!. Which is why we are 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴 𝘁𝗵𝗲 𝗹𝗶𝗺𝗶𝘁 𝘁𝗼 𝟯𝟬𝗞 𝗘𝗧𝗛 by:. 1. Increasing the cap on @ether_fi to 15,000 ETH
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Wen @arbitrum? Wen @0xPolygon_Labs? Wen @optimismFND? Wen wen wen? . Well, now it's upto YOU to turn L2 deployment into reality. The BIG V3 discussion on L2s is live NOW!! 🫡. Discuss and decide where Gearbox goes next: ⚙️🧰
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Upgrades, one-click strategies, and higher lev. But what good are they if you don’t have the best avenues to deploy your capital? Introducing the potential addition to AllowedList: $FRAX $FXS @fraxfinance . Get ~20% on your favourite farm ⚙️🧰🔥 See how:.
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“Liquid Eigen Layer Beta”- this is a statement we have seen being used to describe Gearbox recently. That claim seems to be even more substantiated as LRT integrations like @RenzoProtocol and @ether_fi have boosted TVL to $97M and put the lending market on course to generate over
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In Gearbox DAO's previous GIP, members voted to remove the ninja pass and increase LRT limits because We Heard You. Though, one aspect remained unchanged: the minimum ETH borrow requirement. This requirement is essential to keep liquidations efficient in a high gas environment.
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* robots and elves researching stuff & machines * . When ⏲️ this Thursday 5PM CET.Where 🐦 twitter spaces below. 🧝♀️🤝🤖 ->
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Coincidentally, a year ago, we saw markets move down in a manner similar to today. A -40% or 400B drawdown led to liquidations of players like 3AC, Voyager and FTX as bad debt mounted. We backtested Gearbox to evaluate how our on chain leverage & lending would hold. 🧵⚙️🧰
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Leveraged Restaking is now live on @arbitrum with upto 9X leverage on @RenzoProtocol's ezETH. The integration comes with a 2X boost on ezPoints for borrowers and a 1X boost for ETH lenders. You can access this by switching to the Arbitrum network on ⚙️🧰
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Today's session was all about the next strategic steps & preparing for new adapters to be built in order to enable composability. See the slides & pre-recap: The PDF & Notion pages to start the work are at the end of that image-thread too ⚙️🧰
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Gearbox is now officially in community's control 😳 As per GIP-4 & GIP-5 voting, the signers have been added. The notion of a "team" seizes to exist -> the community DAO fully takes over. Let's see where the journey takes us all. Join Discord, propose on forum, & let's build ⚙️🧰
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The protocol is fully operational, no bad debt, all worked as designed ✅ Despite large volatility on the market and even tiny worries of depegs, Gearbox users are safu and are not liquidated 🫂 There have only been 4 liquidations on mainnet and 1 liquidation on Arbitrum:. -
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WEN V2?!. Let's go through practical steps, because DAO product launches are not an overnight process. They take days & weeks of risk discussions, which are happening right now. so let's see what those are 💡 and DO jump via those forum links below, it's super important!. 🧵
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H̶a̶p̶p̶y̶ ̶N̶e̶w̶ ̶Y̶e̶a̶r̶ ̶ Nono, 2022 work report is already here 😳 DAO has been self-organizing, now having Discord & Notion pages to keep track of tasks & an open work process. Dozens of volunteers, with a few already becoming real contributoooors:
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In case you are confused: this is just a fun DAO flashmob happening with some other awesome DeFi projects (as you could have noticed already). A first attempt at coordination, as to speak. But maybe marketing contributors could actually prepare something cool for Monday anyway 🫂.
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security, security, security. At Gearbox, our top priority is to provide the safest possible protocol for your capital 🛡️ To make that possible, there are multiple measures we take to fortify security, so you can lend & borrow peacefully. From monitoring tools to audits to. 👇
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10x Leverage Natively on LSD protocols? Only with Gearbox's Leveraged LSD strategies. LLSD soon ⚙️🧰
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