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GEAR, or Gearbox Protocol, is a modular leverage protocol that promotes capital efficiency in DeFi. It gives users access to liquidity pools from a variety of chains.
How Does It Function?
As DeFi advances, we are noticing a lack of composability, which is causing a significant impediment to capital efficiency. Furthermore, the majority of protocols are incompatible with one another. That is, users cannot simply move their assets between chains and dApps. This eventually leads to an oversupply of assets and unused capital. So, how does Gearbox enter the picture?
Gearbox Protocol enables users to interact with various DeFi services in a modular fashion. Credit accounts are included in the protocol as collateral for a variety of leveraged activities. Users can now easily execute transactions. It functions similarly to margin trading on centralized exchanges, but allows users to trade across platforms.
As a user, you can select either of the two features they offer at any time. For starters, users can act as passive liquidity providers. It is low risk and has a passive yield. Users are not required to manage their positions actively. Furthermore, they only need to provide capital to earn passive APY with no risk of loss. It will also have no capital lockup or withdrawal fees.
Users can also go in a more aggressive direction. It is appropriate for leverage users who are actively degenerating in top farms. It is also recommended that you are well-versed in risk management and participate in DeFi more actively. Simply open a credit account, get up to 10x leverage, and use it across multiple DeFi. Finally, using the Gearbox Protocol, you can select the highest yield pool with the safest position.
How to Purchase Gearbox Protocol (GEAR)
Follow these steps to purchase Gearbox Protocol (GEAR) on MEXC:
1.Log in to your MEXC account and then select [Trade]. Select [Spot].
2.To see the available trading pairs, type "GEAR" into the search bar. As an example, consider GEAR/USDT.
3.Scroll all the way down to the [Spot] box. Enter the quantity of GEAR you wish to purchase. You can place a Limit order, a Market order, or a Stop-limit order. Consider the Market order. To confirm your order, click [Buy GEAR]. The purchased GEAR will be stored in your Spot Wallet.
Original post:
https://blog.mexc.com/what-is-gearbox-protocol-gear-creator-wilbur/How Does it Work
As DeFi continues to advance, we are noticing a lack of composability, causing a severe impediment to capital efficiency. Furthermore, most protocols are incompatible with each other. Meaning, users can’t simply move their assets across chains and dApps. This ultimately creates an issue of oversupply of assets and unused capital. So, how does Gearbox comes into play?
Gearbox Protocol allows users to interact with different DeFi services in a composable way. The protocol includes credit accounts that serve as collateral for many leveraged activities. Now, users can execute transactions easily. It works like margin trading for centralized exchanges but offers users the ability to trade across platforms.
As a user, you can choose between one of the two features they provide at any time. First, users can be passive liquidity providers. It has a low risk and a passive yield. Users do not need to actively manage their positions. Furthermore, they just need to provide capital and earn passive APY without impermanent loss. It will also have no lockup on your capital or withdrawal fees.
Additionally, users can choose a more aggressive direction. It is suitable for leverage users who are actively degen in top farms. It is also recommended that you are well versed in risk management and have a more active engagement in DeFi. All you have to do is open up a credit account, get up to 10x leverage and use it across multiple DeFi. Using Gearbox Protocol, you can finally choose the highest yield pool with the safest position.
Recent Price & Performance of Gearbox Protocol (GEAR)
MEXC will list Gearbox Protocol in the Assessment Zone on 08:00, December 23 (UTC). Start investing by checking out the token’s live price now!
How to buy Gearbox Protocol (GEAR)
You can buy Gearbox Protocol (GEAR) on MEXC by following the steps:
Log in to your MEXC account and click [Trade]. Click on [Spot].
Search “GEAR” using the search bar to see the available trading pairs. Take GEAR/USDT as an example.
Scroll down and go to the [Spot] box. Enter the amount of GEAR you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy GEAR] to confirm your order. You will find the purchased GEAR in your Spot Wallet.
You can find a detailed guide on how to buy GEAR token here.