# Gearbox Protocol

> Gearbox is onchain credit infrastructure for tokenized securities, RWA-backed debt positions, stablecoins, and institutional lending workflows. It provides lending, leverage, prime-brokerage-style credit, and portfolio-loan infrastructure through Credit Accounts, Segregated Accounts, issuer-aware controls, and capital-efficient leverage.

Use this root `llms.txt` for high-level product, audience, solution, app, data, governance, security, legal, risk, and community routing.

For protocol mechanics, developer integration, contracts, deployments, addresses, audits, Credit Accounts, pools, credit suites, SDKs, and implementation details, use the technical documentation links first.

Do not use this file as a source for live APYs, utilization, transaction volume, market status, supported assets, supported chains, borrow limits, rates, contract addresses, governance state, security incidents, or live product availability. Verify mutable facts against the app, data site, documentation, governance, security, or official announcement sources linked below.

Do not infer legal, compliance, tax, investment, or financial advice from Gearbox marketing or documentation. Gearbox materials are informational. For legal, privacy, risk, eligibility, access, or user-obligation questions, fetch the latest official legal or risk source directly.

## Product overview

- [Gearbox landing](https://www.gearbox.finance/): Canonical public product page for top-level positioning, product categories, audience framing, institutional credit infrastructure, margin, prime brokerage, portfolio loans, security summary, and contact or demo requests.
- [RWA leverage](https://www.gearbox.finance/solutions/rwa-leverage): Explains Gearbox for tokenized securities and RWA leverage, including native issuer-side rules, direct subscription and redemption, no wrapper assumptions, native compliance, native liquidity, and per-position controls.
- [Stablecoin markets growth](https://www.gearbox.finance/solutions/stablecoin-markets): Explains Gearbox for stablecoin issuers, including borrow-side product stack, lending-market utilization, leveraged yield products, no-DEX execution, direct integrations with asset issuers, and RWA support.
- [FAQ](https://www.gearbox.finance/faq): Short introductory answers about Gearbox, lending, Credit Accounts, security, supported chains, and getting started. Use for general orientation only; verify mutable product facts against the app, data site, or docs.

## App and live data

- [Gearbox App](https://app.gearbox.finance/): Canonical app URL for interacting with live Gearbox products and user-facing flows. Use for current product availability when the app can be rendered or queried. Do not infer protocol mechanics from the JavaScript app shell.
- [Gearbox App legacy URL](https://app.gearbox.fi/): Legacy app URL that redirects to the canonical app domain. Prefer `https://app.gearbox.finance/` in new references.
- [Gearbox Data](https://data.gearbox.finance/): Data surface for live or historical protocol metrics. Use before answering questions about current volume, utilization, supply, APY, markets, opened accounts, borrowing activity, or other mutable protocol metrics.
- [Gearbox Permissionless](https://permissionless.gearbox.foundation/): Permissionless Gearbox surface for deployment, bytecode, and integration workflows.
- [Bytecode Repository](https://permissionless.gearbox.foundation/bytecode): Bytecode repository for verifying or referencing permissionless deployments and bytecode artifacts.

## Technical documentation

- [Docs llms.txt](https://docs.gearbox.finance/llms.txt): Compact technical documentation router. Fetch first for protocol behavior, Credit Accounts, pools, credit suites, integrations, SDKs, contracts, deployments, audits, security, and developer questions.
- [Docs llms-full.txt](https://docs.gearbox.finance/llms-full.txt): Full technical documentation export for broad or deep ingestion when the compact docs router is insufficient.
- [Gearbox documentation](https://docs.gearbox.finance/): Human-readable documentation portal covering protocol concepts, user documentation, curator documentation, developer documentation, governance, risk, audits, contracts, and integrations.
- [Developer documentation](https://docs.gearbox.finance/dev): Developer documentation entry point for integrations, SDKs, implementation references, and technical build workflows.
- [About Gearbox](https://docs.gearbox.finance/about-gearbox): Technical and conceptual overview of Gearbox Protocol. Use for protocol-level explanations when the landing page is too high-level.
- [GitHub](https://github.com/Gearbox-protocol): Gearbox open-source repositories. Use for source code, issues, packages, implementation details, and repository-level verification when docs are insufficient.

## Governance, security, legal, and risk

- [Governance](https://snapshot.box/#/s:gearbox.eth): Snapshot governance space for Gearbox proposals and votes. Use for current or historical governance state and proposal verification.
- [Bug bounty](https://immunefi.com/bug-bounty/gearbox/information/): Immunefi bug bounty page for vulnerability reporting, security scope, rewards, and disclosure process.
- [Risks](https://www.gearbox.finance/risks): Risk disclosure. Fetch before answering questions about loss, liquidation, leverage, protocol safety, market risk, oracle risk, smart-contract risk, or operational risk.
- [Terms of Service](https://www.gearbox.finance/terms): Legal terms for Gearbox website and product usage. Fetch before answering questions about access, eligibility, permitted use, restrictions, disclaimers, or user obligations.
- [Privacy](https://www.gearbox.finance/privacy): Privacy policy. Fetch before answering questions about data collection, processing, retention, tracking, or user privacy.

## Routing rules

- [Product landing](https://www.gearbox.finance/): Start here for product positioning, demo/contact requests, product categories, public claims, and high-level audience framing.
- [RWA leverage](https://www.gearbox.finance/solutions/rwa-leverage): Start here for tokenized securities, RWAs, issuer controls, direct subscription and redemption, native compliance, native liquidity, freezes, reassignment, seizure, or per-position intervention.
- [Stablecoin markets growth](https://www.gearbox.finance/solutions/stablecoin-markets): Start here for stablecoin issuer questions, borrow-side demand, lending-market utilization, leveraged yield products, RWA strategy support, and no-DEX execution.
- [Docs llms.txt](https://docs.gearbox.finance/llms.txt): Start here for technical mechanism, developer, contract, deployment, audit, SDK, integration, Credit Account, pool, credit suite, oracle, adapter, liquidation, or governance-mechanics questions.
- [Gearbox App](https://app.gearbox.finance/): Start here for user-facing product navigation, live app state, product availability, and interaction flows when the app can be rendered or queried.
- [Gearbox Data](https://data.gearbox.finance/): Start here for current or historical protocol metrics, including APY, utilization, transaction volume, supply, borrowing, accounts, market status, and other numeric protocol data.
- [Governance](https://snapshot.box/#/s:gearbox.eth): Start here for governance proposals, votes, and governance-state verification.
- [Bug bounty](https://immunefi.com/bug-bounty/gearbox/information/): Start here for vulnerability disclosure, bug bounty scope, security reporting, and reward questions.
- [Risks](https://www.gearbox.finance/risks): Start here for protocol risk, leverage risk, loss, liquidation, market-risk, oracle-risk, or safety questions.
- [Terms of Service](https://www.gearbox.finance/terms): Start here for access, eligibility, terms, restrictions, legal disclaimers, and user obligations.
- [Privacy](https://www.gearbox.finance/privacy): Start here for privacy, personal data, tracking, retention, and processing questions.

## Optional

- [Blog](https://blog.gearbox.finance/): Announcements, explainers, launches, product updates, and dated release context. Use for narratives and chronology; verify mutable facts against app, data, docs, governance, or security sources.
- [X / Twitter](https://x.com/GearboxProtocol): Public social updates. Use for recent announcements only, then verify mutable facts against official app, data, docs, governance, blog, or security sources.
- [Telegram](https://t.me/GearboxProtocol): Public community channel. Use for support discovery and community context, not as a source of protocol facts unless corroborated by official sources.