A system for deploying and operating onchain credit markets.
Gearbox Permissionless defines how markets are created, configured, and governed — without requiring custody over funds.
It combines contract verification, deterministic deployments, and curator-driven governance into a single operational layer.
Gearbox core contracts execute credit.
Permissionless defines how markets are:
- deployed
- configured
- upgraded
- governed
This enables independent curators to operate markets within strict protocol guardrails.
- Onchain registry of contract bytecode
- Auditor attestations
- Deterministic deployments (CREATE2)
- Immutable contract references
This ensures that every deployed component is verified and reproducible.
- Instance Manager
- Market Configurator
- Modular architecture (IRM, oracles, adapters)
Markets are assembled from verified components and deployed with predefined configurations.
- Curator roles and permissions
- Timelock-based upgrades
- Risk parameter management
Curators can operate markets, but only within protocol-enforced constraints.
- Permissionless — anyone can deploy and manage a market
- Non-custodial — curators never control user funds
- Deterministic — all deployments are verifiable and reproducible
- Constrained — governance operates within strict guardrails
Most DeFi systems rely on trusted operators.
Gearbox Permissionless replaces trust with constraints:
- execution is fixed at the protocol level
- upgrades are delayed and transparent
- deployments are verifiable
This allows markets to be operated independently without compromising user safety.
core-v3→ executes credit and positionspermissionless→ defines how markets are created and managedintegrations-v3→ connects external protocolsoracles-v3→ provides pricing and risk data
Together, these components form the Gearbox Protocol.
Actively used in Gearbox V3 markets.
As a contributor to the Gearbox Protocol GitHub repository, your pull requests indicate acceptance of our Gearbox Contribution Agreement. This agreement outlines that you assign the Intellectual Property Rights of your contributions to the Gearbox Foundation. This helps safeguard the Gearbox protocol and ensure the accumulation of its intellectual property. Contributions become part of the repository and may be used for various purposes, including commercial. As recognition for your expertise and work, you receive the opportunity to participate in the protocol's development and the potential to see your work integrated within it. The full Gearbox Contribution Agreement is accessible within the repository for comprehensive understanding. [Let's innovate together!]