Ask about Gearbox · freeTotal Value Locked$22.95m
TVL by Chain
Ethereum$21.16m
Etherlink$1.42m
Monad$246,003
Plasma$55,869
Hemi$31,732
Arbitrum$18,228
OP Mainnet$10,655
Somnia$8,942
Sonic$549.49
Lisk$534.57
BSC$4.54
Key Metrics
Fees 30d$4,769
Fees 30d by chain
Ethereum$2,738
Monad$2,032
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Fees 7d$925
Ethereum$640.67
Monad$284.29
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Fees 24h$132
Ethereum$92.52
Monad$39.44
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Cumulative Fees$22.79m
Ethereum$22.39m
Monad$214,364
Arbitrum$179,781
OP Mainnet$23,015
Lisk$3,586
Sonic$295
Hemi$87
BSC$4
Revenue 30d$192.88
Revenue 30d by chain
Monad$112.56
Ethereum$80.60
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Revenue 7d$18.24
Ethereum$17.54
Monad$0.70
Arbitrum$0
BSC$0
Hemi$0
Lisk$0
OP Mainnet$0
Sonic$0
Revenue 24h$3.01
Ethereum$2.91
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$35,444
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)$204,258
Earnings 30d$192.88
Earnings 7d$18.24
Earnings 24h$3.01
Cumulative Earnings$4.72m
Market Cap$5.36m
$GEAR Price$0.00054
Fully Diluted Valuation$5.36m
Outstanding FDV$5.27m
$GEAR Volume 24h$14,954
CEX Volume$0
DEX Volume$16,036(107.23% of total)
Active Loans$13.78m
Treasury$2.34m
Majors$701,281
Stablecoins$2,442
Own Tokens$1.63m
Others$5,732
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 APY2.13%
Competitors
Gearbox history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Dec 23, 2021 to Oct 27, 2026.
All-time high TVL: $419.34m on Apr 23, 2024. All-time low TVL: $13,520 on Dec 23, 2021.
Daily TVL, Sep 28, 2026 to Oct 27, 2026
| Date | TVL |
|---|---|
| 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 |
| 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 |
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 27, 2026 (latest) | $22.83m |
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) | $4,159 | $78.09 | $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 27, 2026, Gearbox has $22.95m in total value locked. TVL has decreased 8.2% 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 92.2%.
How much has Gearbox generated in fees and revenue?
Over the past 30 days, Gearbox generated $4,769 in fees. Of that, $192.88 was protocol revenue. Based on the trailing year, the annualized rate is $622,748 in fees and $204,258 in revenue.
What is the GEAR token price and valuation?
GEAR is currently trading at $0.00054. Its circulating market capitalization is $5.36m, ranking it #1,906. Its fully diluted valuation is $5.36m. Supply currently stands at 10b circulating, 10b total supply, 10b maximum supply.
How has GEAR performed recently?
GEAR is down 10.9% over the past 7 days and down 26.1% over the past 30 days. Its all-time high is $0.037, reached on Apr 11, 2024. The token is currently 98.6% below that level.
How does Gearbox's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Gearbox ranks #50 by TVL. The category holds $52.059b across 518 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 Avalon Finance.
How much has been borrowed through Gearbox?
As of Oct 27, 2026, Gearbox has $13.78m in active loans.
Does Gearbox have a treasury?
Gearbox has a tracked treasury currently valued at $2.34m. Its holdings include $2,442 in stablecoins, $701,281 in major assets, $1.63m in its own tokens, $5,732 in other assets.