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TOPGEAR

DEGENVAULT

12.87%

Projected APY

Projected Yield

12.87%

Targeted Leverage

4.0x

stETH Yield

5.56%

ETH Borrow Cost

2.25%

This is the gross projected yield based on current conditions.

350k

$FRAX

Capacity

$FRAX

Capacity

Cap is reached

Leveraged yield strategy for the best-in-class FRAX yield. The power of Gearbox V2 is used to take advantage of structural opportunities between ETH borrow rates and stETH staking yields with unprecedented capital efficiency and block-by-block risk management.

Live monitoring & of position health

Continuous exit paths simulation

Leveraged ultra-sound yield with Gearbox V2

Full on-chain execution

Vault Info

Assets

FRAX

Network

ETHEREUM

Watch Video

Strategy

The Vault aims to earn ultra-sound yield on Frax deposits. FRAX is used as collateral on Gearbox V2 to borrow leveraged spot ETH, which is swapped to stETH. The position accrues ETH staking rewards and pays the ETH borrow rate. Brahma’s real-time risk management and execution infrastructure ensures the position leverage is actively managed to prevent liquidations while optimising returns. This includes monitoring of oracle deviations, ETH borrow rates and stETH staking rewards as well as the stETH:ETH peg and execution slippage and impact.

Vault Balance

0.00

FRAX

Vault Capacity

360,000.00

FRAX

Strategy steps

Risks & Info

Funds live location

Vault

Trade Executor

Vault Deposits/Withdrawals

FRAX

Users deposit FRAX in the vault.

Gearbox Credit Account

FRAX

Deposited FRAX is used as collateral to open a Gearbox Credit Account.

Create Leveraged Position

ETH

A leveraged ETH borrowing position is opened against the collateral. The borrowed ETH is then swapped to stETH via the Curve pool.

Accrued Yield

stETH

The position earns the stETH staking yield on the leveraged notional (minus the Gearbox ETH borrow costs). Profits are swapped and auto-compounded back into FRAX.

Position Management

stETH

The position size is automatically adjusted and risk managed depending on: yields, new deposits and withdrawals, and market prices.

Historical Returns

Key strategy metrics

Time frame

ETH borrowAPY

stETH APY

Leverage

Est. APY

Previous 7 days

2.346%

5.563%

4x

12.87%

Previous 14 days

2.285%

5.576%

4x

13.17%

Previous 30 days

2.2253%

5.495%

4x

12.97%

Rates were referenced from Aave, Gearbox V2 rates may differ. For illustration purposes only. The vault will start in Safe mode initially - 1x to 3x leverage.

Why do we call it a degenvault?

DegenVaults are experimental, peer-reviewed but not yet audited, early releases of strategy vaults, accessible only to experienced DeFi users familiar with on-chain primitives and their underlying risks. Compound your Karma score, you will need it to get in...

Vault modes

DegenVaults are gated, select gating method that suits you best.

KARMA
WHALE

CLAIM YOUR KARMA

You will be asked to sign a message to check your Karma. It is calculated on public on-chain activity, and the signature is solely to ask for your consent to compute it for your wallet address.

Your score should be higher than 69 points to proceed.

...

What's Karma?

What's Karma?

Karma is a scoring mechanism devoted to recognise, rank and reward most active users of the community. Brahma’s Karma computes a comprehensive score based on every user’s on-chain and off-chain activities. And that’s all the secret that can be let out.

Claim your score to pass

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