Gearbox: GEAR Tokens Fully Unlocked, DAO Holds 39.8% of Supply
Modular leverage protocol Gearbox has announced on the X platform that the token GEAR has been fully unlocked and is 100% circulating, with 39.8% of the supply held by the DAO, releasing only about 3% annually for programmes and incentives.
TVL is said to have grown from $17 million in 2023 to $83 million in 2024 with reduced token incentives, and its newly introduced Gauges mechanism in V3 enables democratic decision-making on lending rates, with more than 2.8 per cent of GEAR currently pledged. the DAO is generating approximately $3 million in revenue in 2024, spending only $486,000 in token incentives.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pump.fun’s protocol revenue surpassed Hyperliquid in the past 24 hours
CME data center operator admits to operational violations, causing last week's trading interruption
Star responds to debt dispute with Li Feng: Debt issues will be handled according to the law
The Crypto Fear Index drops to 20, the market remains in an "extreme fear" state
Trending news
MoreCrypto prices
More
