Gearbox (GEAR)

Gearbox Protocol brings you composable leverage, allowing anyone to margin trade on Uniswap, leverage farm on Curve, leverage stake on Lido, and use 10X more capital on many other DeFi protocols you already love. Making decentralized leverage a reality thanks to Credit Account abstraction!

Governance Forum: https://gov.gearbox.fi/

Snapshot Voting: https://snapshot.org/#/gearbox.eth

Whitepaper

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Interest lvl

High

Updated: Nov 10, 2023

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User Rating

Medium

3/5 • 1 votes

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Ticker

GEAR

Type

Utility-token

Token standard

ERC20

Registration countryVirgin Islands (British)

Ecosystems

Ethereum

What is Gearbox

Gearbox Protocol uses Credit Account abstraction to bring together lending and prime brokerage in the same protocol. Lenders deposit assets to earn passive yield, while the composable leverage side users borrow these assets to create spot leverage positions, which can be used across DeFi. That could be margin trading on Uniswap, farming on Curve and Balancer, leverage staking on Lido and Rocketpool, and a lot more. All of that is made possible with Gearbox's innovative Credit Account abstraction, creating the base layer of DeFi leverage.

• Composable. Gearbox does not have its own order book or trading environment. The leverage you get can be used across multiple DeFi protocols and assets, fully composable! For example, a yield aggregator can be on the liquidity provider side of Gearbox Protocol, as well as be an avenue for Gearbox users to deploy their leverage into.
• No Funding Rates. The leverage offered is not based on synthetic positions but instead is executed with real assets on third-party protocols. Because Gearbox does not create its own trading pairs, there is no short-long ratio that needs to be maintained with funding rates.
• Leverage as a Service. Other protocols can offer leverage to their users with the help of Gearbox Protocol, without modifying anything in their own architecture. As such, they also get exposure to the user base of Gearbox.
• Permissionless Strategies. Positions and trades within Credit Accounts can be extended to include complex strategies, for example, making a short position farm in Yearn; or having LP tokens as collateral for more composable actions.
• Low overhead on gas. Due to how data and operations are processed across isolated smart contracts, gas usage overhead is reduced to an insignificant overhead.