Gearbox · Etherlink

USDC

Overview

The Gearbox USDC pool on Etherlink is a single-asset lending position where suppliers earn variable interest on stablecoin deposits. The protocol generates yield by routing borrowing demand against pooled USDC liquidity and pays suppliers from the resulting interest spread. Total APY stands at 0.78%, with no additional reward component. Over the past week, the rate has remained virtually unchanged (+0.00%), while over the last month it increased by 27.86%. This current rate is above the 30-day mean of 0.61%. TVL holds at $1M without a specified 7-day change. The primary risk here is depeg risk on the underlying stablecoin, as this is a single-asset pool. Utilisation rates for this lending pool are within typical ranges for its category and protocol type.

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.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 0.88%; 30-day mean is 0.83%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 89% confidence based on historical patterns.

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