Gearbox · Ethereum

WETH

Overview

The Gearbox WETH pool on Ethereum is a single-asset lending position where suppliers earn variable interest on Ether deposits. Gearbox generates yield by routing borrowing demand against pooled WETH liquidity and pays suppliers from the resulting interest spread. Total APY of 3.03% breaks down into base lending at 1.76% and reward incentives at 1.27%. The 7-day trend shows a slight decline of -0.02%, while no 30-day trend data is available; however, the current rate sits below the 30-day mean of 3.50%. TVL stands at $466K with no reported 7-day change. The primary exposure here is smart-contract risk due to the protocol's reliance on automated market-making and liquidity pools. Lending utilisation for this pool remains within typical ranges for its asset class and protocol category.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Yield variability

  Current APY is 3.26%; 30-day mean is 3.13%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 56% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.