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[GIP-277] Reschedule and improve expiration flow of V3.0 Ethereum markets & Activate two chains

Voting ended 12 days agoSucceeded

Summary

This proposal reschedules the expiration date for the sunset of all Credit Accounts in v3.0 markets on Ethereum, applies non-zero limits to allow manual unwinds for specific tokens and switches deprecated rswETH feed.

The objective is to migrate all remaining activity to v3.1. Any Credit Account that does not migrate before the expiration date will be closed automatically. Liquidation premiums will be returned to users.

LPs are unaffected and may withdraw liquidity at any time.

Motivation

Continuing to support multiple protocol versions creates unnecessary operational overhead and limits the ability to focus on the more efficient and scalable v3.1 system.

In addition, Gearbox’s strategic shift toward becoming a neutral platform for building credit products is no longer compatible with maintaining a DAO-preferred curator - a role previously held by Chaos Labs.

Specification

Expiration

  • New expiration timestamp for Credit Facades: 1770120000 Date and time (GMT): Tuesday, February 3, 2026 12:00:00 PM

All liquidation parameters remain unchanged:

  • Expired & standard liquidation fee: 0.01%
  • Liquidation premiums: unchanged
  • Expired liquidation premiums equal standard liquidation premiums

Markets and Credit Managers in Scope

  • ETH Market (0xda0002859b2d05f66a753d8241fcde8623f26f4f) Farm WETH — 0x6dc0eb1980fa6b3fa89f5b29937b9baab5865b3e Restaking WETH — 0x50ba483272484fc5eebe8676dc87d814a11faef6 Trade WETH Tier 1 — 0xa30099925b14b00b76ae2efe2639cd01598fe68a Trade WETH Tier 2 — 0x3f11758aca3f2eb7a27828c9cbcd0b347944ac14 Trade WETH Tier 3 — 0x0b2486355e987586c32fc0feefe2943e396c484e

  • wstETH Market (0xff94993fa7ea27efc943645f95adb36c1b81244b) wstETH Correlated Tier 1 — 0x4bf7481fdf7b67a8206254badc15480a55bb25ab wstETH Correlated Tier 2 — 0xd665774088c7936b65be0cbcf83aebe87cb10de7

  • USDC Market (0xda00000035fef4082f78def6a8903bee419fbf8e) Farm USDC — 0x1d489ccd2b96908c0a80acbbdb2f1963ffed3384 Trade USDC Tier 1 — 0x3eb95430fdb99439a86d3c6d7d01c3c561393556 Trade USDC Tier 2 — 0xea7c28428d3916dbe2f113b8a6e6dd0f3819c050 Trade USDC Tier 3 — 0x4e94cd228ef386ebc32900ec745d1865934688a3

  • USDT Market (0x05a811275fe9b4de503b3311f51edf6a856d936e) Universal USDT Tier 1 — 0xe35eb22a349baba4f1a28a9cdba641d3b72c6203

  • DAI Market (0xe7146f53dbcae9d6fa3555fe502648deb0b2f823) DAI Tier 1 — 0x4582411643f9bbe6c736ed2114eda856b1c9ed40

  • GHO Market (0x4d56c9cba373ad39df69eb18f076b7348000ae09) GHO Tier 1 — 0x58c8e983d9479b69b64970f79e8965ea347189c9

  • WBTC Market Trade WBTC Tier 1 — 0xefc134755aaf89fe84476946251680bece41246e Trade WBTC Tier 2 — 0xcac3e41b9bad20e2aa35e150de96eefb2d043735 Trade WBTC Tier 3 — 0x46709ca16b1ffea5d6c6bb6b7e77dd9e3b4908ed

  • tBTC Market Trade tBTC Tier 1 — 0x63fffbba4bcc1a2743186ff5cdf5145131cfb7fd tBTC Correlated Tier 1 — 0xc6d1c9d0f50e5a056713bc88891e3e1629ebd6bf tBTC Correlated Tier 2 — 0x2dd94ebdbabffed2bebd3ed039dd943334f55666

  • crvUSD Market crvUSD Tier 1 — 0x629f097996a5fb606470974bda1c3b6abc4d6857

  • DOLA Market DOLA Tier 1 — 0xf73dcfe24f5e4d290c79fea72169deb6873666ae

Limits

Non-zero limits are set for the following tokens to allow manual unwinds:

  • Llamathena: 0xd29f8980852c2c76fc3f6e96a7aa06e0bedcc1b1
  • RLUSD / USDC: 0xd001ae433f254283fece51d4acce8c53263aa186

Limit applied:

  • USDC, DAI, GHO, USDT Pool: 4,000,000 No other limits or parameters are modified.

Oracles

RswETH reserve feed is set to 0x7C879DBde7569F00c378Ca124046B9E1b31327F5 (Redstone-pull based), because the previously used chainlink-based feed was deprecated.

New chain activations

Network Chain ID Wrapped Gas Token Address GEAR address Instance Owner Financial Multisig Block Explorer Block Gas Limit Alchemy dRPC thirdweb rpc
MegaETH 4326 0x4200000000000000000000000000000000000006 0x0000000000000000000000000000000000000000 0x1E9ec044853611F4bCD4BBcFE7657508BD1c53D3 0xef78F5FfD8c6c5aa45bCAb7f4BA638B0A4fbc7A1 https://megaeth.blockscout.com/ 10000000000 https://mainnet.megaeth.com/rpc
Arc testnet 5042002 0x3600000000000000000000000000000000000000 0x0000000000000000000000000000000000000000 0x6763fe48cC800F24C128ce651257c9f991081d1a 0x6763fe48cC800F24C128ce651257c9f991081d1a https://testnet.arcscan.app/ 30000000

Transaction log

Txn log can be found here

Md5 checksums of market-related txs are: 338973074ce28564134d5a4b5f8b0a8b, 27a964aed7568261008b65bb7dd61797, 3a7003653f93a8d8f149fe10d0ee6de8.

The GIP asks DAO to authorize Technical/Cross-Chain Multisig members to sign the pair of SafeTx (in TM) and CompactBatch (in CCM) messages to submit and execute the batch 0x936a2890add6a21be3e9aaa4393e4c4e5099cd0f92c9488bd23db7ea7b50576d implementing the described actions. The messages were generated using the script create-gip-267-messages.sh and can be also found here

Off-Chain Vote

For
257.84M GEAR100%
Against
0 GEAR0%
Abstain
0 GEAR0%
Quorum:129%
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Discussion

Gearbox[GIP-277] Reschedule and improve expiration flow of V3.0 Ethereum markets & Activate two chains

Timeline

Jan 20, 2026Proposal created
Jan 20, 2026Proposal vote started
Jan 23, 2026Proposal vote ended