Gearbox
Borrow against your crypto — keep upside on your token, walk away with cash you can spend.
86% on Ethereum · also on 2 other chains
Chains
3
Live yield options
11
Best reward rate
13.5%
Live since
2021
Where it runs
Available on 3 chains
Earn here · live yield options
Yields available on Gearbox
11 live options — yields range 0.64% to 13.5% per year, with a median of 2.75%.
-
01
gearbox - WSTETH Ethereum
WSTETH
Reward
0.64%
→Pool size
$2.28Million
-
02
gearbox - WETH Ethereum
WETH
Reward
—
→Pool size
$1.26Million
-
03
gearbox - WETH Ethereum
WETH
Reward
2.75%
→Pool size
$517Thousand
-
04
gearbox - USDC Ethereum
USDC
Reward
—
→Pool size
$501Thousand
-
05
gearbox - USDC Etherlink
USDC
Reward
1.42%
→Pool size
$435Thousand
-
06
gearbox - WBTC Ethereum
WBTC
Reward
—
→Pool size
$337Thousand
All 11 yield options on Gearbox Expand →
| Option | Chain | Reward | Pool size |
|---|---|---|---|
| gearbox - WSTETH | Ethereum | 0.64% | $2.28Million |
| gearbox - WETH | Ethereum | 0.0% | $1.26Million |
| gearbox - WETH | Ethereum | 2.75% | $517Thousand |
| gearbox - USDC | Ethereum | 0.0% | $501Thousand |
| gearbox - USDC | Etherlink | 1.42% | $435Thousand |
| gearbox - WBTC | Ethereum | 0.0% | $337Thousand |
| gearbox - CRVUSD | Ethereum | 0.0% | $35.7Thousand |
| gearbox - USDT0 | Plasma | 8.32% | $32.7Thousand |
| gearbox - USDT0 | Plasma | 0.0% | $26.7Thousand |
| gearbox - AUSD | Monad | 1.47% | $9Thousand |
| gearbox - USDC | Monad | 13.5% | $0 |
How it works
Using Gearbox in three steps
-
1
Lock up collateral
Deposit a token you trust (often ETH or BTC) as collateral.
-
2
Mint a stablecoin
Borrow a stablecoin against your collateral. You keep upside on the original token, walk away with cash.
-
3
Watch the ratio
If your collateral falls in price, your loan can be liquidated. Keep a safety buffer or top up.
Read up
About Gearbox
Description provided by the protocol team. Always verify directly before depositing funds.
Tokens earning here
Top tokens earning yield through Gearbox
Frequently asked
What people ask about Gearbox
What is Gearbox?
+
Gearbox is an on-chain app. Borrow against your crypto — keep upside on your token, walk away with cash you can spend.
Is using Gearbox safe?
+
Gearbox has 2 public audits on file. Audits help — they don't eliminate risk. Always check what tokens you're depositing and never put in more than you can afford to lose.
How much can I earn?
+
Right now yields on Gearbox run 0.6%–13.5% per year, depending on which pool you pick and which chain you use. Rates change with demand.
Which chains does it run on?
+
Gearbox runs on 3 chains, including Ethereum, Etherlink, Monad. Each chain has its own fees and speeds — pick the one you already use.
Figures are reference values aggregated from public sources and refresh daily. Always confirm directly before depositing funds.
See also
Terms used on this page
-
Smart Contract
Code on a blockchain that runs automatically when called. DeFi protocols are smart contracts — bugs in the code can lose user funds.
-
Audit
An independent security review of a smart contract. More audits and longer track record reduce — but never eliminate — code risk.
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Impermanent Loss
A loss LP providers experience when the two pool tokens diverge in price. The loss only crystallises if you withdraw at that ratio.
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Oracle
An on-chain feed of off-chain data — usually prices. Lending and CDP protocols rely on oracles to liquidate positions correctly.
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TVL (Total Value Locked)
The total dollar value of assets currently deposited in a DeFi protocol. A rough proxy for adoption and trust.