The Gearbox Protocol has launched the GEAR/ETH curve auction program, and GEAR holders can currently deposit GEAR into the contract

2022-12-13 19:37:55

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ChainCatcher news, the DeFi composable leverage protocol Gearbox Protocol has launched the GEAR/ETH curve auction program Cider'ed Liquidity, allowing both GEAR holders and ETH holders to participate in this auction event.

Specifically, from December 13 to 14, GEAR holders can deposit GEAR into the Cider contract, and from December 15 to 16, anyone can provide ETH to the Cider contract. On December 16, Cider will pair the received GEAR and ETH, provided that the GEAR and ETH in the contract meet the minimum requirements, after which the smart contract will create a Curve V2 liquidity pool, and users will be "calculated" proportional LP tokens.

According to rootdata, Gearbox uses credit accounts to enhance capital efficiency within DeFi, allowing users to traverse the DeFi ecosystem without relinquishing asset ownership. The protocol completed a $4.15 million strategic financing on August 10, with participation from LedgerPrime, Zee Prime Capital, and others. (source link)

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