Gearbox

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

Retrieves the tokens in each Gearbox pool & value of all Credit Accounts (V1/V2/V3) denominated in the underlying token.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Gearbox's governance or utility token carries a market capitalisation of 3,9 Mio. $ based on circulating supply at the latest DeFiLlama snapshot. The token's market cap (3,9 Mio. $) is small relative to deposits secured by the protocol (58,6 Mio. $); a mcap/TVL multiple of 0.07× is sometimes read as a discount, though it can also reflect minimal fee accrual to the token.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Wichtige Ereignisse, die von der DeFiLlama-Community markiert wurden — Protokoll-Launches, Exploits, Governance-Änderungen und Anreizprogramme.

1. Dec 27, 2021
   Auf DeFiLlama gelistet
2. Oct 24, 2022
   LM begins

Gearbox is a Lending protocol that lets users supply assets as collateral, borrow against them, and earn interest from borrowers paying variable or stable rates. It is deployed across 11 chains, including Ethereum, Monad, Etherlink, Somnia and 7 other chains. The codebase has been independently audited (1 report on file). DeFiLlama tracks 1 historical event for this protocol since 2022.

Gearbox runs a multi-chain deployment, with smart contracts live on 11 networks. TVL is comparatively balanced across networks: even the largest deployment (borrowed) holds only 26% of the protocol's value. Price discovery relies on 3 oracle providers (RedStone, Chainlink, eOracle), which diversifies the data-feed surface but also expands the set of third parties users implicitly trust. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap (3,9 Mio. $) is small relative to TVL (58,6 Mio. $) — a mcap/TVL ratio of 0.07 is often read as the token being structurally undervalued versus the activity it secures.

Verified external resources for Gearbox — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Gearbox is one of 7 Lending protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Aave V3, Morpho V1, JustLend, and 3 more. These peer protocols collectively secure 43,4 Mrd. $ in deposits, giving you a frame of reference for whether Gearbox's own TVL is at the top, middle, or tail of the category.

Aave V3

TVL 26,2 Mrd. $ · 24h +0.16%

Morpho V1

TVL 7 Mrd. $ · 24h +0.57%

JustLend

TVL 3,4 Mrd. $ · 24h +1.86%

Maple

TVL 2,4 Mrd. $ · 24h -1.17%

SparkLend

TVL 2,2 Mrd. $ · 24h +3.62%

Kamino Lend

TVL 2,1 Mrd. $ · 24h -0.02%