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.
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