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Composability (noun): The act of posting X × Y Twitter announcements by protocols.
Sick of it? So are we.
But somewhere along the way, that's what composability got reduced to: a narrative must-have, a co-marketing mechanism instead of fuel for innovation and efficiency. Case in point: Lending.
Would you call a vending machine composable with different finance applications just because it accepts your coins?
That's the state of most onchain lending. Protocols love to call themselves composable but reduce composability to integrating tokens instead of protocols.
❌ Listing stETH is not composability with @LidoFinance. Unstaking looped stETH on lending protocols wouldn't take months when unstaking takes days on Lido otherwise.
❌ Listing @pendle_fi PTs isn't composability with Pendle if users can't redeem the underlying at maturity without paying DEX fee.
❌ Composability isn't forcing vault curators on @mellowprotocol to bear DEX liquidity costs for LRTs designed to be minted/redeemed at no fee.
❌ And composability isn't when a $1B+ protocol like @ConvexFinance can't be integrated because their positions aren't tokenised.
Composability isn't integrating another token, composability is when two protocols combine to make DeFi magic happen. But like a vending machine, most lending protocols only understand how to take your tokens and give you a different token worth less than what you deposited.
This is what Gearbox changes, this is where Gearbox fuels innovation through composability.
🔌 Leveraging PTs till maturity? Redeem your PTs for the underlying without paying a DEX fee, just like on Pendle.
🔌 Leveraging Mellow LRTs? Don't lose months of yield to DEXes on LRTs that were made to be redeemed for free. Redeem yours at 0 cost, even at 40X your size.
🔌 Leveraging Convex? Wait, the position isn't even tokenised? Get credit for it only on Gearbox.
🔌 Leveraging stETH? Unstake the entire position in 1 go, not in months, just like you would on Lido. (WIP)
How? Because Gearbox isn't built like a vending machine, it's built like a DeFi credit-line. We don't give you another token worth less than your deposit, our credit accounts let you borrow up to 40X your collateral. Yes, Gearbox extends you real credit to utilise on other DeFi protocols, not just their tokens. And this is what real composability is about.
For lending, composability means using another protocol, with the same efficiency you would otherwise, but just with borrowed capital. And that's what Gearbox delivers.
Gearbox is a lending protocol, but not just another lending protocol. Access composability that builds new capabilities, not just new tweets. Only with DeFi's permissionless lending layer, Gearbox. ⚙️🧰
🚨ANNOUNCEMENT🚨
Deposits for Infinity 001 are opening this week for our closed beta participants!!
Deposits will be open this Thursday March 6th at 10:00am PST!!
Missed out? Learn more about Infinity 001 below and stay tuned for announcements regarding public access 👀.
https://t.co/uVcqp53GfH
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