Generalized Leverage Protocol ⚙ Built with composability in mind <3
Gearbox is a generalized leverage protocol: it allows anyone to take leverage in a DeFi-native way and then use it across various DeFi protocols in a composable way. You take leverage with Gearbox and then use it on other protocols you already love. For example, you can leverage trade on Uniswap, leverage farm on Yearn, make complex delta-neutral strategies, get Leverage-as-a-Service for your structured product, and more... Thanks to Credit Accounts primitive!
The core vision is to become a backend composable leverage protocol that all kinds of users can utilize but don’t even need to interact directly with a specific interface. You can envision building your own DeFi protocol and just making a “take leverage with Gearbox” as a button. And bam - your users are now more capital efficient. Or integrate Gearbox into a platform like Zerion or Zapper. Check this page to understand why composable leverage 2.0 is cool!
Some compare this leverage as a primitive to DeFi-native prime brokerage.
You can be in a DAO but not be 24/7 active, which is totally okay. There are different ways to get involved and get rewarded for your time and skills.
Workers / core contributors: those who day and/or night work on different tasks as core contributors, ranging from marketing to coding. DAO contributors are split among different sub-projects and can decide to work on something specific, or a few tasks at a time. See Notion.
Delegates: members who stay on top of protocol strategic ideas and plans, but don’t have the 24/7 to really get hands-on operational tasks. They can become delegates and lead how governance decides on protocol vital things.
Shitposters: you can meme, learn, and discuss DeFi in Discord. We’ll like you ;)
Notion – The all-in-one workspace for your notes, tasks, wikis, and databases.
Composable. Gearbox does not have its own order book or trading environment. The leverage you get is used across multiple DeFi protocols and assets, fully composable! For example, a yield aggregator can be on the liquidity provider side of Gearbox Protocol, as well as be an avenue for Gearbox users to deploy their leverage into. Learn how Gearbox works.
0% Funding Rates. The leverage offered is not based on synthetic positions but instead is executed with real assets on third-party protocols. Because Gearbox does not create its own trading pairs, there is no short-long ratio that needs to be maintained with funding rates.
Leverage as a Service. Other protocols can offer leverage to their users with the help of Gearbox Protocol, without modifying anything in their own architecture. As such, they also get exposure to the user base of Gearbox. Make a proposal to Gearbox DAO!
Permissionless Strategies. Positions and trades within Credit Accounts can be extended to include complex strategies, for example, making a short position farm in Yearn; or having LP tokens as collateral for more composable actions.
Low overhead on gas. Due to how data and operations are processed across isolated smart contracts, gas usage overhead is reduced to an insignificant overhead. Learn more.
DAO-First Approach to Building
Decentralized. CEXes subjectively define leverage parameters and also keep custody of your funds. With Gearbox, you are always in control of your funds. It's all transparent. There is no one EOA or team signature, it's all in the hands of governance.
Community-driven. Gearbox Protocol does not have a company responsible for the protocol or on-chain actions. The goal is to make the protocol work based on how the community wants it.
You can check how from day -1 the focus has been on community-first and DAO-driven here.