Gearbox Project Analysis
1. Institute Short Review
Gearbox protocol is a decentralized leverage protocol that allows users to use leverage in many DeFi applications. The project currently has a TVL of $116 million and a relatively high lockup value in its category, which is a leading decentralized leverage protocol project; moreover, the project is hot and has a strong community base. In addition, the project tokens are relatively new in the design of distribution and open trading, which can avoid the token surge and plunge to a certain extent, and the economic mechanism is reasonably designed.
Gear token distribution is divided into two phases, the first phase is to sell 150 million GEAR through GnosisAuction auction with a starting price of $0.015; the second phase is to establish a liquidity pool in Balancer and enable GEAR transferability. After the second phase was opened, the project quickly raised 3,000 ETH and the market was hot. 17 December is expected to open for trading at about $0.0288. After the opening of trading, early sellers will be charged transaction fees, which will then be reduced linearly and will be freely traded by December 23rd. The fees charged between December 17th and 22nd will be rewarded to holders in the liquidity pool, which will prevent early profiteers from dumping the project right after it goes live and allow Gear tokens to achieve more reasonable pricing.
2. Recent breakout points
DeFi, decentralized leverage protocol
3. Project Introduction
The Gearbox protocol is a decentralized leverage protocol that allows users to use leverage in numerous DeFi applications.
4. Token role
GEAR is an ERC20 utility token that initially serves as the protocol's governance token and can be further empowered through DAO.
5. Token Allocation
Total Gear tokens 10 billion
Community: 58% (of which DAO treasury allocates 51%)
Early external contributors: 1.28% (linear release after 1 year lock)
Early core contributors: 29.2% (linear release after 1 year lock)
Early stage investors: 11.52% (linear release after 1 year lock-in)
6. Investment Institutions
Investors include: Placeholder, Zee Prime, LedgerPrime, Polymorphic, GCR, etc.
7. Project outlook
After the FTX thunderstorm, the market has generated a strong distrust of CEX, and the overall growth space of the decentralized financial market will be large. Unlike the spot market, along with the migration of DYDX out of the Ethernet network, the decentralized derivatives market on the Ethernet network will see a wave of very fierce competition. In addition, with the launch of Layer2, the underlying performance limits of the decentralized derivatives market have been broken through, and there is a lot of room for growth in the future. gearbox currently has a locked position worth $116 million, with a good community base, and is one of the leading projects in the DeFi derivatives track. along with the launch of its token, it is expected to further attract a large number of users to settle down, and Gearbox has a Gearbox has great potential in the decentralized derivatives track. From the macro trend, the bear market may tend to end, and the DeFi derivatives track is attracting much attention in the next round of bull market, and the Gear token is expected to have greater potential in the next round of bull market.
Token name: GEAR
Project website: https://gearbox.fi/
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