ETH Borrow Cost
This is the gross projected yield based on current conditions.
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
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.
Risks & Info
Funds live location
Users deposit FRAX in the vault.
Gearbox Credit Account
Deposited FRAX is used as collateral to open a Gearbox Credit Account.
Create Leveraged Position
A leveraged ETH borrowing position is opened against the collateral. The borrowed ETH is then swapped to stETH via the Curve pool.
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.
The position size is automatically adjusted and risk managed depending on: yields, new deposits and withdrawals, and market prices.
Key strategy metrics
Previous 7 days
Previous 14 days
Previous 30 days
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...
DegenVaults are gated, select gating method that suits you best.
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.
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