Ready for ████████ Gearbox?

Posting a deep dive on lending protocols design on Monday, including snippets of some new features 👀 But before we dive into that, let's first look at:

1. Gearbox Protocol accumulated $0 bad debt during the liquidations ✅ Meanwhile, passive lenders continue earning comfy APYs on their capital. With the lending pools being isolated, there was no risk of the spillover effect to other depositors either. Modularity ftw! In fact, there were $600,000+ in revenues...

2. Some of those profits will be voted to distribute back to the affected leverage degens. How much? About 20% of the initial funds a user had on their Credit Account. A vote is going live on Monday.

Overall, the design worked somewhat like @UMAprotocol's Oval / @warlock_xyz would. For comparison, usually users would be fully wiped out and get nothing back, but caring is sharing.

3. This deleveraging led to a chunk of capital being freed up from the borrow side. So if you tried to leverage for weeks without luck, well, this is your chance. There is now available liquidity for leverage points farming or PURE margin trading, you choose: @ether_fi, @ethena_labs, @KelpDAO, and more.