Ask about Gearbox · freeTotal Value Locked$22.41m
TVL by Chain
Ethereum$20.56m
Etherlink$1.45m
Monad$271,752
Plasma$55,897
Hemi$32,102
Arbitrum$18,304
OP Mainnet$10,922
Somnia$9,097
Sonic$618.62
Lisk$546.32
BSC$4.40
Key Metrics
Fees 30d$5,232
Fees 30d by chain
Ethereum$2,723
Monad$2,512
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Fees 7d$904
Ethereum$639.17
Monad$265.08
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Fees 24h$132
Ethereum$91.12
Monad$40.53
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Cumulative Fees$22.79m
Ethereum$22.39m
Monad$214,039
Arbitrum$179,781
OP Mainnet$23,015
Lisk$3,586
Sonic$295
Hemi$87
BSC$4
Revenue 30d$553.30
Revenue 30d by chain
Monad$473.59
Ethereum$80.50
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Revenue 7d$18.79
Ethereum$18.15
Monad$0.65
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Revenue 24h$2.50
Ethereum$2.40
Monad$0.10
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Cumulative Revenue$4.72m
Ethereum$4.63m
Arbitrum$46,693
Monad$35,443
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
Lisk$0
Monad$0
OP Mainnet$0
Sonic$0
Holders Revenue 24h$0
Arbitrum$0
BSC$0
Ethereum$0
Hemi$0
Lisk$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)$212,201
Earnings 30d$553.30
Earnings 7d$18.79
Earnings 24h$2.50
Cumulative Earnings$4.72m
Market Cap$6.08m
$GEAR Price$0.00061
Fully Diluted Valuation$6.08m
Outstanding FDV$5.98m
$GEAR Volume 24h$1,951
CEX Volume$0
DEX Volume$1,886(96.67% of total)
Active Loans$13.85m
Treasury$2.62m
Majors$730,301
Stablecoins$2,375
Own Tokens$1.88m
Others$5,980
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 Tracked11
Average Supply APY1.96%
Competitors
Gearbox history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Dec 23, 2021 to Oct 18, 2026.
All-time high TVL: $419.34m on Apr 23, 2024. All-time low TVL: $13,520 on Dec 23, 2021.
Daily TVL, Sep 19, 2026 to Oct 18, 2026
| Date | TVL |
|---|---|
| Sep 19, 2026 | $23.35m |
| Sep 20, 2026 | $23.42m |
| Sep 21, 2026 | $23.84m |
| Sep 22, 2026 | $24.59m |
| Sep 23, 2026 | $24.45m |
| Sep 24, 2026 | $24.88m |
| Sep 25, 2026 | $24.95m |
| Sep 26, 2026 | $24.96m |
| Sep 27, 2026 | $24.99m |
| Sep 28, 2026 | $24.98m |
| Sep 29, 2026 | $24.96m |
| Sep 30, 2026 | $24.9m |
| Oct 1, 2026 | $25.38m |
| Oct 2, 2026 | $25.2m |
| Oct 3, 2026 | $25.25m |
| Oct 4, 2026 | $25.35m |
| Oct 5, 2026 | $25.44m |
| Oct 6, 2026 | $24.9m |
| Oct 7, 2026 | $24.78m |
| Oct 8, 2026 | $23.68m |
| Oct 9, 2026 | $23.37m |
| Oct 10, 2026 | $23.46m |
| Oct 11, 2026 | $23.59m |
| Oct 12, 2026 | $23.88m |
| Oct 13, 2026 | $23.14m |
| Oct 14, 2026 | $23.75m |
| Oct 15, 2026 | $23.13m |
| Oct 16, 2026 | $22.91m |
| Oct 17, 2026 | $22.72m |
| Oct 18, 2026 | $22.43m |
TVL at each month end, Nov 2024 to Oct 2026
| Date | TVL |
|---|---|
| Nov 30, 2024 | $108.98m |
| 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 18, 2026 (latest) | $22.43m |
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, Nov 2024 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Nov 2024 | $472,449 | $69,989 | $0 |
| 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 (to date) | $2,966 | $52.16 | $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 Oct 18, 2026, Gearbox has $22.41m in total value locked. TVL has increased 2.2% 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 91.7%.
How much has Gearbox generated in fees and revenue?
Over the past 30 days, Gearbox generated $5,232 in fees. Of that, $553.30 was protocol revenue. Based on the trailing year, the annualized rate is $674,025 in fees and $212,201 in revenue.
What is the GEAR token price and valuation?
GEAR is currently trading at $0.00061. Its circulating market capitalization is $6.05m, ranking it #1,852. Its fully diluted valuation is $6.05m. Supply currently stands at 10b circulating, 10b total supply, 10b maximum supply.
How has GEAR performed recently?
GEAR is down 3.8% over the past 7 days and up 77.9% over the past 30 days. Its all-time high is $0.037, reached on Apr 11, 2024. The token is currently 98.4% below that level.
How does Gearbox's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Gearbox ranks #49 by TVL. The category holds $51.048b across 515 protocols, and Gearbox accounts for <0.1% of that total. Other leading protocols include Morpho Blue, Aave V3, Euler V2, Sumer.money, Ajna V2, Venus Core Pool, Unitus, Folks Finance xChain, OmniBTC, and Avalon Finance.
How much has been borrowed through Gearbox?
As of Oct 18, 2026, Gearbox has $13.85m in active loans.
Does Gearbox have a treasury?
Gearbox has a tracked treasury currently valued at $2.62m. Its holdings include $2,375 in stablecoins, $730,301 in major assets, $1.88m in its own tokens, $5,980 in other assets.