amantay-a

[Gearbox Protocol @GearboxProtocol]

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: https://t.co/U6gBeZ3Fg8 ⚙️🧰

[Guild @guildxyz]

Guild turned 3 today 🎉

join the party and bag our exclusive anniversary NFT as well as a 💎 here: https://t.co/UTqCNrUl7L

it's been 3 epic years with you guys, wagmi 🖤

[JobStash 🦇🔊 @jobstash_xyz]

Built as a public good, JobStash provides unrestricted access to all crypto jobs across the entire ecosystem 🌍

We verify job seekers professional work history and vet hiring organizations, creating trust and transparency in the hiring process for everyone in the crypto ecosystem. Projects and organizations can access over 1000 available crypto experts - all verified by JobStash.

🔑 Safe & Secure Sign In - Easily sign in securely with variety of methods, including Google, Farcaster, and GitHub, through @privy_io - the trusted solution for safe wallet authentication across the crypto ecosystem. Then, get verified by JobStash to unlock access to job listings tailored for crypto experts.
🌍 Get Discovered - Over 8,000 verified organizations & projects are actively looking for top talent in the crypto space, get on their radar with JobStash. Search over 2,800 job opportunities in the crypto ecosystem.
📢 Post Unlimited Jobs for Free – Vetted organizations can post as many jobs as they like, at no cost. We support small and big organizations equally, giving everyone the same exposure to talent.
📈 Boost Job Listings - Promote your roles and get more visibility. Pay securely and flexibly using @llamapay_io - trusted across the crypto ecosystem for seamless on-chain transactions. Pay with any token, on any chain, with peace of mind.
✅ Candidate Verification - Organizations can access crypto candidate reports that showcase verified work across the entire crypto ecosystem, ensuring you're connecting with genuine, qualified crypto professionals.
📖 Candidate Reporting - Verified hiring managers from vetted organizations can access a one-page graphical overview of a job seekers work experience.
💻 Ecosystem Involvement - JobStash highlights your ecosystem participation, showcasing involvement like successful @ETHGlobal hackathon attendance and @nounsdao ownership to help you stand out - or your own NFTs, which indicate participation in your events or educational initiatives. JobStash accredits finalists and pack holders as experts, and acknowledges nounsdao OG members status in the ethereum community.

Whether you’re an expert looking to take your career to the next level or a project seeking to hire genuine crypto experts, we’re here to help make that happen.

JobStash - Where experts get hired.

[amantay-a @amantay_a]

@jrdsctt @BasedGhouls

[Gearbox Protocol @GearboxProtocol]

Ready for ████████ Gearbox?

Posting a deep dive on lending protocols design on Monday, including snippets of some new features 👀 But before we dive into that, let's first look at:

1. Gearbox Protocol accumulated $0 bad debt during the liquidations ✅ Meanwhile, passive lenders continue earning comfy APYs on their capital. With the lending pools being isolated, there was no risk of the spillover effect to other depositors either. Modularity ftw! In fact, there were $600,000+ in revenues...

2. Some of those profits will be voted to distribute back to the affected leverage degens. How much? About 20% of the initial funds a user had on their Credit Account. A vote is going live on Monday.

Overall, the design worked somewhat like @UMAprotocol's Oval / @warlock_xyz would. For comparison, usually users would be fully wiped out and get nothing back, but caring is sharing.

3. This deleveraging led to a chunk of capital being freed up from the borrow side. So if you tried to leverage for weeks without luck, well, this is your chance. There is now available liquidity for leverage points farming or PURE margin trading, you choose: @ether_fi, @ethena, @KelpDAO, and more.

[Gearbox Protocol @GearboxProtocol]

Leverage on USDe and sUSDe is now live. Earn upto 90X shards on USDe and 45X on sUSDe with a boost from @ethena. Details: https://t.co/QiZJDz6QJl

Leverage Anything, Leverage Ethena: https://t.co/bql4YkGJrR ⚙️🧰

[Gearbox Protocol @GearboxProtocol]

Gearbox Protocol has now crossed $100M in TVL. And it's all because of the DeFi Protocols and Users who have made this achievement possible.

Thank you for the composable growth. 🫶⚙️🧰

[Gearbox Protocol @GearboxProtocol]

“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 @renzoai and @ether_fi have boosted TVL to $97M and put the lending market on course to generate over $15M in fees for lenders. So, is Gearbox about restaking?

Yes, No, and so much more.

Let's look at the metrics and V3's growth strategy 🧵

The "Network Effects" capture strategy

Gearbox is an onchain leverage layer. It enables you to borrow leverage and use it across other protocols and chains. That is currently mostly DeFi, but also some RWA and even staking facilities. With V3, our strategy was to develop Gearbox into a more modular protocol capable of offering leverage on protocols and assets that are the most relevant to users. This was a key growth mechanism to capture and grow our "Network effects". Integrating LRTs, thus, was a part of the V3 strategy and gained significant traction.
Beyond LRTs, V3 enabled leveraged trading on DEXes like Uniswap and Curve with PURE Margin Trading. Also, introduced leveraged RWAs with sDAI, leveraged LSDs with rETH and stETH and more from the @CurveFinance Ecosystem to grow these network effects.

Effect on Borrowers and TVL

With V3's additions, we have seen the user base rise to 240 active borrowers with an average position size of $333K. Whales, few in numbers, but huge 🐋 The overall TVL has now risen from $27M on V2 to $97M on V3, a 259% rise.

Out of this, the leveraged restaking TVL is at $68.7M, Gearbox PURE is at $9.4M Open Trade Value.

Growing Lenders Organically

With V2, the supply side was largely driven by $GEAR incentives. With V3, we have reduced the $GEAR incentives by over 60% and still seen supplied assets grow by over 3x to $80M. This is because Gearbox's lending side is on course to generate $15.5M for lenders annualized.

This enables lending rates of 25%+ APYs on ETH and 10%+ APYs on USDC 🔥

Lenders earn these yields from borrowers who earn 200%+ APYs on LRTs, borrow at 10%+ APYs to margin trade and have other farms that yield 40%+ APYs as well. This enables borrowers to pay above market rates for ETH and USDC and still earn more.

V3's integrations thus make growing Gearbox sustainable without relying on $GEAR emissions.

Composability amplifying our partners & friends

The cool part about Gearbox is its composability. All the trades, farms, liquidations happen on integrated DEXes and protocols. That means more volumes for them, more fees for them. This way, Gearbox brought about $6️⃣B in volumes for @Uniswap, @CurveFinance, and @Balancer over the course of 2023 with its V3! So far, with V3, it has been $100M+ in basically just a couple of weeks (source in next tweet).

Financial Impact for the Gearbox DAO

Gearbox DAO, at current levels, is on its way to $5M+ in revenue annualized. And that comes with a special twist which slowly starts to show its effect: gauges controlled by $GEAR stakers.

The interest rates in Gearbox are split into two parts: base utilization rate that everyone is familiar with + extra quota rates that are different for every asset you leverage. Protocols and whales can stake their GEAR and make those interest rates lower or higher, essentially creating a market for bribes and Gear Wars... but on that, in next tweet.

Next Source of Growth

While in terms of $$ value terms the protocol and DAO are doing well, the current limitations of Ethereum Mainnet's Gas fee and the 25ETH minimum borrow make expanding the user base tough. To enable more users to access Leveraged DeFi, Gearbox is deploying on Arbitrum, which would enable users of all sizes to access Leveraged DeFi. This should further bring Arbitrum-native integrations.

As for the other mainnet integrations, that could be Ethena, KelpDAO, GHO, Balancer and Aura pools, and… what would you like to see?

PS: links to sources and more info below ⤵️

[Gearbox Protocol @GearboxProtocol]

Leveraged @eigencloud restaking is now live: https://t.co/csSJraE4im ⚙️🧰

Earn upto 9.5x EIGEN points and 19X @ether_fi points on Gearbox.

Details here: https://t.co/xkTMoBmsQq

[Gearbox Protocol @GearboxProtocol]

𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝗯𝗲𝗴𝗶𝗻𝘀 🧵 𝗦𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝗶𝗻𝘁𝗲𝗻𝘀𝗶𝗳𝗶𝗲𝘀

For Gearbox, 2023 was all about preparing for the integrations ahead. We took a looong time to make the architecture modular and retain composability (these are not just hype words, we have been on that trajectory since Feb 2021). If you missed the big article, here it is: https://t.co/G65c5YSCz0.

Then we also had to audit it all, improve monitoring systems, and finally in January - polish the interfaces https://t.co/wdBqmBqmSE & https://t.co/lpIZ0ct463. And now that work is done 🫡 Security work is, of course, ongoing, but at this point we are proud to have this all be shown to the broader world. And not just contributors tweeting news to their own 100 people followers, however amazing and chad they are 🥹

What begins now is intensified shipping 🔥

Intensified use of the improved architecture to add new assets, protocols, Layer 2 rollups, and more. We plan to show the real power of composable and PURE leverage.

What are those?
- leverage restaking
- leverage points farming
- deployments on L2s
... making omnichain credit a reality!

Keep an eye on Gearbox in Q1-Q2 as all those things come out. And don't forget that $GEAR DAO has multiple fee streams which take advantage of all those integrations: https://t.co/HVZgWzE0RX. Stakers can even decide on the lending rates every week - the engine underneath is quite cool and complex! What's after that? Well, keep an eye 👀

Onwards. Let's intensify...

[Gearbox Protocol @GearboxProtocol]

"𝗦𝗼 𝗮𝗻𝗼𝘁𝗵𝗲𝗿 𝗹𝗲𝘃𝗲𝗿𝗮𝗴𝗲 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁?"

Yes, but not another that makes traders and LPs trade against each other. Not another that fragments liquidity. Not another with exorbitant funding fee. Not another Perpetual, this is PURE Margin trading 🍀

[Gearbox Protocol @GearboxProtocol]

Leverage trade a $1Million ETH position with near 0 slippage on Gearbox PURE, using the deep liqudity of DEXes☘️

All without any counterparties or LPs trading against you. ⚙️🧰

Margin Trade here: https://t.co/L81yBSUxu3

[Gearbox Protocol @GearboxProtocol]

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...

⚙️🧰 https://t.co/zZiuwauHGs

[Gearbox Protocol @GearboxProtocol]

Leverage trade with the deepest onchain liquidity, Leverage trade on @CurveFinance @Uniswap @Balancer and your favourite DEXes with Gearbox PURE. 🍀

Deployment now underway. ⚙️🧰

[Florence Finance @FinanceFlorence]

⚜️ What is Florence Finance?

𝐑𝐖𝐀 made simple ✅

⬇️ Want to earn up to 9.5% APR of 𝐥𝐨𝐰 𝐫𝐢𝐬𝐤 𝐫𝐞𝐚𝐥-𝐰𝐨𝐫𝐥𝐝 𝐲𝐢𝐞𝐥𝐝?

[Gearbox Protocol @GearboxProtocol]

V3 Launch Steps ⚙️🧰3⃣

The time for V3 is almost here! That means PURE margin trading going live, new assets, Layer 2 possible deployments, better organic rates, and other opportunities 🔥

All of this becomes possible thanks to the core V3 codebase, but not at once. There are a few logistical steps to go through, with the migration from V2 to V3 planned to be as painless as possible. The votes are being kicked off in order to execute the launch steps as described:

- GIP-80: making unpause role safer
- GIP-81: Launch Parameters 🍀
- GIP-82: LM partial migration next week

PS wen: devs said live next week, go vote 👀 Audits will be posted prior to the deployment. Docs will be updated then.

Check out the blog piece with all the details:
https://t.co/WzdilqvQSK

[Gearbox Protocol @GearboxProtocol]

Lending, looping, perpetuals, leverage...

On our quest to build something worthy, on our quest to evolve Onchain Credit for #DeFi, #RWA, #NFT, and so on... we've developed ⚙️🧰 V3!

A big Gearbox V3️⃣ thread ahead. Full article at the end.

[Gearbox Protocol @GearboxProtocol]

On Gearbox 🧵

The past, the present, the future.

[Joel John @joeljohn]

Over the past six months, we have written 33 articles covering stories that matter in Web3

Today, we took the paid version of https://t.co/eKEuupDz80 after a month of iterations. Two additional newsletters without the fluff.

cc :@substack

https://t.co/x1Sl26XW0P

[Liquity @LiquityProtocol]

🚨 SPACES alert

Join us on Wednesday at 3pm UTC where we will be hosting the folks over at @GearboxProtocol

We'll be discussing:
- Gearbox v2, and its usecases
- The move to transfer 50% of their treasury into LUSD 👀
- LUSD and Gearbox

RSVP here: https://t.co/BTFki0IIyk