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 ⚙️���
Future income lending on-chain? How it's possible?
Give me two minutes to share the idea of "overcollateralized" lending for future income, which doesn't rely on "undercollateralized" scoring models, and is based on pure math only. This idea was inspired by a tweet from @jesse.
LFG!
GEAR Update: 100% unlocked, no supply overhang
Over the summer, $GEAR has finally passed the common "new token chasm": constant unlocks. Now, 100% of the supply is circulating with no unlocks remaining. Around 39% of the supply is held by the DAO, releasing at about ~3% per year only for different initiatives & grants.
📉 Emissions Reduction
V3 enabled Gearbox to allow leverage on more productive assets. These assets enable borrowers to earn higher yields and remain profitable even with higher borrow rates. The higher rates attract lenders organically and reduce reliance on GEAR rewards. Those have only stayed as a way to enable distribution and align with users, at minimal amounts.
This change has been notably observed with the TVL increasing despite LM incentives being reduced by 66%. Gearbox's lending side TVL has increased from $17M in 2023 to $83M in 2024. At the same time, LM rewards have reduced from 271M to 92.5M GEAR. Reducing annual emissions by ~1.8% of the total supply and indicating organic growth.
⚖️ Revenue Aligned Incentives
Incentives can be a useful tool for a DAO to expand community ownership and bootstrap new launches. Tactics around rewards/incentives are now based on the potential revenue the incentives can generate. This enables the protocol to grow sustainably. As a result of the approach, the DAO has generated ~$3M in revenues in 2024 while spending only ~$486K in token incentives. Or a net spend of 16 cents for every $1 earned.
🗳️ Gauges Update
Apart from efficient emissions, Gearbox V3 also introduced Gauges. Gauges enable democratic decision-making regarding borrow rates for any asset onboarded to the protocol. This is made possible by anyone staking their GEAR and voting with them to mutually decide on borrow rates. Over 2.8% of the GEAR supply is now staked in Gauges, reducing effective circulating supply. The flywheel is growing!
You can read more details about Gauges here: https://t.co/oJBnIFj5gy
👐 Transparent Updates
All budgets, initiatives, and processes are open and transparent. You can verify any transaction and cross-check the contributions of every initiative: https://t.co/n0nnyDAYl9 Can't find something? Ask in Discord, anyone can help you out.
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Doing a PPP memecoin experiment that might or might not involve airdrops.
To be part of it, QT this w your address (or just RT & reply)
To kick it off, here’s mine:
AS3yMXa5yPRFeLgsdQkFR1KxBowExSY1JUzRGZj8iAMu
If we get enough real participants, the experiment will proceed 🐱
Are you in the purple ecosystem? Better grab your curvance role tomorrow before the snapshot is taken to get access to the purple ecosystem phase of the testnet. @wormhole@PythNetwork@PikeFinance@monad_xyz@Curvance
Hey Unlockers! Join us for our next DeFi Hour with builders from the @Base Ecosystem.
We’re excited to be joined by core contributors from @aerodromefi, @reserveprotocol, and @MoonwellDeFi to discuss building DeFi on Base, and more!
📅 APR. 25
⏰ 5PM UTC
Set a reminder 👇
@GearboxProtocol Maybe through some calculation and make the rate(combined borrow rate with quota rate) on the page a number that people can apply on their debt directly, coz a lot of people are not comfortable to pay rate for their principal.
Doubler Eyes "Landing Site" Election Event
Which chain should #Doubler Eyes debut on? Join us in deciding.
How to participate: Send native tokens valued at no more than $5USD to the event address:
EVM: 0xcFf0B829fD9bd7a58Ca8D62EeF8105506F859592 (Note: Please refrain from making large transfers, as assets collected in this event will not be returned.)
Supported chains: @ethereum , @Optimism , @Arbitrum , @base , @MerlinLayer2 , @0xPolygon , @BNBCHAIN , @zkSyncEraNew@LineaBuild , @MantaNetwork , @Blast_L2
📐Election rules: At the end of the event, we will tally the total asset value of the wallet addresses that made transfers on each chain. The chain with the highest cumulative assets will become the birthplace of Doubler Eyes. (Tally method: Total balance of assets from all participating wallet addresses.)
🕑Event duration: April 9th, 10 AM (UTC) - April 12th, 10 AM (UTC)