Ask about Gearbox · freeTotal Value Locked$18.92m
TVL by Chain
Ethereum$17.15m
Etherlink$1.41m
Monad$246,291
Plasma$55,924
Hemi$25,811
Arbitrum$17,261
OP Mainnet$8,411
Somnia$8,343
Sonic$423.53
BSC$3.85
Lisk$0
Key Metrics
Fees 30d$3,884
Fees 30d by chain
Ethereum$2,755
Monad$1,131
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Fees 7d$950
Ethereum$642.86
Monad$308.67
Arbitrum$0
BSC$0
Hemi$0
OP Mainnet$0
Sonic$0
Fees 24h$134
Ethereum$90.44
Monad$43.70
Arbitrum$0
BSC$0
Hemi$0
OP Mainnet$0
Sonic$0
Cumulative Fees$22.79m
Ethereum$22.39m
Monad$215,052
Arbitrum$179,781
OP Mainnet$23,015
Lisk$3,586
Sonic$295
Hemi$87
BSC$4
Revenue 30d$76.06
Revenue 30d by chain
Ethereum$73.25
Monad$2.82
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Revenue 7d$16.01
Ethereum$15.24
Monad$0.77
Arbitrum$0
BSC$0
Hemi$0
OP Mainnet$0
Sonic$0
Revenue 24h$1.55
Ethereum$1.44
Monad$0.11
Arbitrum$0
BSC$0
Hemi$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$4.72m
Ethereum$4.63m
Arbitrum$46,693
Monad$35,446
OP Mainnet$4,675
Lisk$586
Sonic$77
Hemi$14
BSC$4
Holders Revenue 30d$0
Holders Revenue 30d by chain
Arbitrum$0
BSC$0
Ethereum$0
Hemi$0
Lisk$0
Monad$0
OP Mainnet$0
Sonic$0
Holders Revenue 7d$0
Arbitrum$0
BSC$0
Ethereum$0
Hemi$0
Monad$0
OP Mainnet$0
Sonic$0
Holders Revenue 24h$0
Arbitrum$0
BSC$0
Ethereum$0
Hemi$0
Monad$0
OP Mainnet$0
Sonic$0
Cumulative Holders Revenue$0
Arbitrum$0
BSC$0
Ethereum$0
Hemi$0
Lisk$0
Monad$0
OP Mainnet$0
Sonic$0
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$135,840
Earnings 30d$76.06
Earnings 7d$16.01
Earnings 24h$1.55
Cumulative Earnings$4.72m
Market Cap$3.18m
$GEAR Price$0.00032
Fully Diluted Valuation$3.18m
Outstanding FDV$3.13m
$GEAR Volume 24h$970.07
CEX Volume$0
DEX Volume$871.89(89.88% of total)
Active Loans$10.37m
Treasury$1.38m
Majors$417,619
Stablecoins$1,843
Own Tokens$951,794
Others$11,854
Total Raised$8.04m
May 1, 2021$2.3mRound: PrivateInvestors: Variant Fund, 1kx, Lido Finance, P2P Capital, Focus Labs, E Girl Capital, Igor Barinov, Stani Kulechov, Anton Bukov, Sergej Kunz, LAUNCHub Ventures, Fiskantes, Zee Prime, Darren Lau, Daryl Lau, Degenscore, Sergey Blyudov, Elias Simos, Santiago Roel Santos, Larry Cermak, Encode Club
Aug 31, 2022$4.15mRound: DAO roundInvestors: Placeholder, Zee Prime, LedgerPrime, Polymorphic Capital, GCR
Sep 22, 2022$1.59mRound: DAO round
Annual Operational Expenses$893,760
Headcount13
Risk$132,000
Salaries$761,760
Sourceshttps://gearboxprotocol.notion.site/Monthly-Reports-6849871a9bae44dfb903531c0a997e8f
Last UpdateApr 29, 2023
Protocol Information
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.
Audits:
Methodology
TVL: Retrieves the tokens in each Gearbox pool & value of all Credit Accounts (V1/V2/V3) denominated in the underlying token.View code on GitHubFees: Include borrow interest, performance profit & loss and liquidation fee paid by borrowers.View code on GitHubRevenue: Amount of fees go to Gearbox treasury.View code on GitHubHolders Revenue: No revenue share to GEAR token holders.View code on GitHubIncentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Treasury: Value of tokens owned by the protocolYields
Pools Tracked10
Average Supply APY1.87%
Largest Pools by TVL
kpkwstETHEthereum$8.04m
kpkWETHEthereum$1.75m
Re7USDCEtherlink$1.33m
dWETHV3Ethereum$968,938
dUSDCV3Ethereum$493,148
Competitors
Gearbox history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Dec 23, 2021 to Nov 15, 2026.
All-time high TVL: $419.34m on Apr 23, 2024. All-time low TVL: $13,520 on Dec 23, 2021.
Daily TVL, Oct 17, 2026 to Nov 15, 2026
| Date | TVL |
|---|---|
| Oct 17, 2026 | $22.72m |
| Oct 18, 2026 | $22.43m |
| Oct 19, 2026 | $22.48m |
| Oct 20, 2026 | $23.47m |
| Oct 21, 2026 | $23.83m |
| Oct 22, 2026 | $24.26m |
| Oct 23, 2026 | $23.34m |
| Oct 24, 2026 | $23.17m |
| Oct 25, 2026 | $23.1m |
| Oct 26, 2026 | $22.89m |
| Oct 27, 2026 | $22.83m |
| Oct 28, 2026 | $22.96m |
| Oct 29, 2026 | $23.07m |
| Oct 30, 2026 | $21.88m |
| Oct 31, 2026 | $21.92m |
| Nov 1, 2026 | $22.94m |
| Nov 2, 2026 | $23.12m |
| Nov 3, 2026 | $22.92m |
| Nov 4, 2026 | $22.96m |
| Nov 5, 2026 | $24.1m |
| Nov 6, 2026 | $22.17m |
| Nov 7, 2026 | $22.15m |
| Nov 8, 2026 | $22.12m |
| Nov 9, 2026 | $21.4m |
| Nov 10, 2026 | $21.15m |
| Nov 11, 2026 | $20.58m |
| Nov 12, 2026 | $20.64m |
| Nov 13, 2026 | $20.29m |
| Nov 14, 2026 | $19.66m |
| Nov 15, 2026 | $18.25m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $106.43m |
| Jan 31, 2025 | $90.58m |
| Feb 28, 2025 | $67.21m |
| Mar 31, 2025 | $75.39m |
| Apr 30, 2025 | $91.28m |
| May 31, 2025 | $166.12m |
| Jun 30, 2025 | $156.35m |
| Jul 31, 2025 | $199.48m |
| Aug 31, 2025 | $215.82m |
| Sep 30, 2025 | $186m |
| Oct 31, 2025 | $216.11m |
| Nov 30, 2025 | $130.43m |
| Dec 31, 2025 | $104.78m |
| Jan 31, 2026 | $61.26m |
| Feb 28, 2026 | $46.86m |
| Mar 31, 2026 | $43.34m |
| Apr 30, 2026 | $30.25m |
| May 31, 2026 | $21.8m |
| Jun 30, 2026 | $16.93m |
| Jul 31, 2026 | $18.58m |
| Aug 31, 2026 | $21.53m |
| Sep 30, 2026 | $24.9m |
| Oct 31, 2026 | $21.92m |
| Nov 15, 2026 (latest) | $18.25m |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $5.43m |
| Dec 31, 2022 | $111.96m |
| Dec 31, 2023 | $31.93m |
| Dec 31, 2024 | $106.43m |
| Dec 31, 2025 | $104.78m |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $711,166 | $156,300 | $0 |
| Jan 2025 | $428,873 | $95,859 | $0 |
| Feb 2025 | $362,648 | $108,907 | $0 |
| Mar 2025 | $257,887 | $70,976 | $0 |
| Apr 2025 | $152,009 | $31,993 | $0 |
| May 2025 | $176,989 | $43,930 | $0 |
| Jun 2025 | $182,473 | $31,490 | $0 |
| Jul 2025 | $255,759 | $70,227 | $0 |
| Aug 2025 | $328,325 | $36,165 | $0 |
| Sep 2025 | $313,763 | $75,858 | $0 |
| Oct 2025 | $265,010 | $85,446 | $0 |
| Nov 2025 | $185,789 | $78,117 | $0 |
| Dec 2025 | $72,913 | $20,769 | $0 |
| Jan 2026 | $102,220 | $19,596 | $0 |
| Feb 2026 | $59,319 | $20,722 | $0 |
| Mar 2026 | $61,081 | $12,729 | $0 |
| Apr 2026 | $64,614 | $24,016 | $0 |
| May 2026 | $19,500 | $5,586 | $0 |
| Jun 2026 | $10,220 | $2,029 | $0 |
| Jul 2026 | $8,981 | $294.78 | $0 |
| Aug 2026 | -$12,399 | $2,011 | $0 |
| Sep 2026 | $7,000 | $2,780 | $0 |
| Oct 2026 | $4,667 | $81.33 | $0 |
| Nov 2026 (to date) | $1,925 | $40.81 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/gearbox
Frequently asked questions
What is Gearbox's TVL?
As of Nov 15, 2026, Gearbox has $18.92m in total value locked. TVL has decreased 17.4% over the past 30 days.
What chains does Gearbox operate on?
Gearbox operates on 11 chains: Ethereum, Etherlink, Monad, Plasma, and Hemi and 6 others. Ethereum holds the largest share at 90.6%.
How much has Gearbox generated in fees and revenue?
Over the past 30 days, Gearbox generated $3,884 in fees. Of that, $76.06 was protocol revenue. Based on the trailing year, the annualized rate is $467,241 in fees and $135,840 in revenue.
What is the GEAR token price and valuation?
GEAR is currently trading at $0.00032. Its circulating market capitalization is $3.18m, ranking it #2,296. Its fully diluted valuation is $3.18m. Supply currently stands at 10b circulating, 10b total supply, 10b maximum supply.
How has GEAR performed recently?
GEAR is down 29.4% over the past 7 days and down 47.9% over the past 30 days. Its all-time high is $0.037, reached on Apr 11, 2024. The token is currently 99.1% below that level.
How does Gearbox's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Gearbox ranks #52 by TVL. The category holds $44.687b across 521 protocols, and Gearbox accounts for <0.1% of that total. Similar protocols include Morpho Blue, Aave V3, Euler V2, Sumer.money, Ajna V2, Venus Core Pool, Unitus, Folks Finance xChain, OmniBTC, and dForce Lending.
How much has been borrowed through Gearbox?
As of Nov 15, 2026, Gearbox has $10.37m in active loans.
Does Gearbox have a treasury?
Gearbox has a tracked treasury currently valued at $1.38m. Its holdings include $1,843 in stablecoins, $417,619 in major assets, $951,794 in its own tokens, $11,854 in other assets.