TechFlow News — DeFi composable leverage protocol Gearbox Protocol has launched the GEAR/ETH curve auction initiative "Cider'ed Liquidity," allowing both GEAR and ETH holders to participate.
Specifically, from December 13 to 14, GEAR holders can deposit GEAR into the Cider contract. From December 15 to 16, anyone can provide ETH to the Cider contract. On December 16, Cider will pair the received GEAR and ETH, provided that the amounts of GEAR and ETH in the contract meet minimum thresholds. Then, a smart contract will create a Curve V2 liquidity pool, and users will receive proportionally calculated LP tokens.
According to rootdata, Gearbox uses credit accounts to enhance capital efficiency within DeFi, enabling users to navigate the DeFi ecosystem without relinquishing asset ownership. The protocol raised $4.15 million in strategic funding on August 10, with participation from LedgerPrime, Zee Prime Capital, and others.Source link
