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
Sam Altman: New Model Set for Release in the Coming Months, but a Capacity "Crisis" May Occur in the Meantime
A Whale’s 10x Long DOGE Position Was Partially Liquidated During This Morning’s Drop
El Salvador acquires 7 more Bitcoins in the past 7 days, bringing total holdings to 6,256.18
Trending news
MoreCrypto prices
More
