Gearbox
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Protocol TVL
Fees & Revenue
Chain Fees Distribution
Revenue Breakdown
About Gearbox
Gearbox Protocol is building a permissionless credit layer. Designed for seamless wallet integrations, reimagining traditional lending. So you can lend, borrow, or 10x leverage - directly inside your favorite wallets in one click.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
How Gearbox's TVL is measured
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 tokenomics and on-chain capital
Gearbox's governance or utility token carries a market capitalisation of $3.9M based on circulating supply at the latest DeFiLlama snapshot. The token's market cap ($3.9M) is small relative to deposits secured by the protocol ($58.6M); 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.
Security & Audits
Oracles supply external price data to on-chain contracts. Oracle compromise is a common attack vector — diversified providers reduce single-point-of-failure risk.
Gearbox Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Dec 27, 2021Listed on DeFiLlama
- Oct 24, 2022LM begins
Protocol Profile
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.
TVL Distribution by Chain
TVL spans 17 chains across the deployment. See the breakdown below for per-chain values.
…and 7 other chains with smaller deployments.
Supported Chains
Protocol Footprint
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 ($3.9M) is small relative to TVL ($58.6M) — a mcap/TVL ratio of 0.07 is often read as the token being structurally undervalued versus the activity it secures.
Official Resources & Links
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.
Other Lending protocols on Mantapex
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 $43.4B in deposits, giving you a frame of reference for whether Gearbox's own TVL is at the top, middle, or tail of the category.
Treasury
Available Yields
| Project | Pool | APY | TVL |
|---|---|---|---|
| gearbox | USDC | 6.80% | $4.9M |
| gearbox | AUSD | 5.91% | $1.3M |
| gearbox | USDT0 | 4.27% | $56.6K |
| gearbox | WETH | 2.95% | $641.6K |
| gearbox | USDT0 | 2.72% | $227.2K |
| gearbox | USDC | 0.76% | $1.1M |
| gearbox | WSTETH | 0.30% | $4.3M |
| gearbox | WETH | 0.29% | $1.6M |
| gearbox | USDC | 0.00% | $1M |
| gearbox | WSTETH | 0.00% | $549.5K |
Recent Gearbox news
Latest reporting from major crypto news outlets covering Gearbox.
- CryptoSlate
Renzo's ezETH token depeg triggers liquidations across DeFi platforms
Renzo's liquid restaking token (LRT), ezETH, experienced a significant depegging event that liquidated millions from “loopers” using the token as collateral on leverage protocols…
- The Cryptonomist
Lido launches GG Vault: automated DeFi yields on ETH, WETH, stETH, and wstETH in the Earn tab
On September 3, 2025, Lido activated GG Vault (GGV), a vault that automates the allocation of ETH, WETH, stETH, and wstETH across at least seven protocols (Uniswap, Aave, Euler,…
Related protocols
Other DeFi protocols connected to Gearbox by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Lending protocols
Top protocols on Ethereum
Fork lineage & related versions
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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