> For the complete documentation index, see [llms.txt](https://docs.kpk.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kpk.io/vaults/vaults/gearbox.md).

# Gearbox

How KPK curates Gearbox Earn Pools, from collateral due diligence, quota limits, utilisation caps, and dual-oracle pricing to adapter allowlists, pool monitoring, and protective actions.

<table data-view="cards"><thead><tr><th></th><th></th><th data-hidden data-type="content-ref"></th><th data-hidden data-card-target data-type="content-ref"></th><th data-hidden data-card-cover data-type="image">Cover image</th><th data-hidden data-type="image">Cover image (dark)</th><th data-hidden data-card-cover-dark data-type="image">Cover image (dark)</th></tr></thead><tbody><tr><td><strong>WETH Earn Pool</strong></td><td>Ethereum</td><td><a href="https://docs.kpk.io/curation/gearbox/weth">https://docs.kpk.io/curation/gearbox/weth</a></td><td><a href="/vaults/vaults/gearbox/ethereum/eth.md">ETH</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2F62l9IutYRtnSECwZB5kv%2FWETH.png?alt=media&amp;token=042e23da-253c-40dc-8dd2-f2a6b6748fd7">WETH.png</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FYjsZmFvq9Loe5JMstqfB%2FGearbox_WETH_D-1.png?alt=media&amp;token=545927fa-fed0-409c-aaae-8bf913ff7b96">Gearbox_WETH_D-1.png</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2F95DmNqCHA8HZTH0MzqH5%2FWETH_dark.png?alt=media&amp;token=783a3339-b54f-495e-9fd2-03af13dbba3f">WETH_dark.png</a></td></tr><tr><td><strong>wstETH Earn Pool</strong></td><td>Ethereum</td><td><a href="https://docs.kpk.io/curation/gearbox/wsteth">https://docs.kpk.io/curation/gearbox/wsteth</a></td><td><a href="/vaults/vaults/gearbox/ethereum/wsteth.md">wstETH</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FUKhEARSvCz4wix21tET4%2FwstETH.png?alt=media&amp;token=c23ce9b5-028e-456d-a693-25137403e7cf">wstETH.png</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FvEoUlpN735LOd5UnvGQt%2FGearbox_WETH_D.png?alt=media&amp;token=adc9df06-c5ad-4ba1-9245-4b24e0e6b1c3">Gearbox_WETH_D.png</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FC57is8WPNhqxhjLIeH8k%2FwstETH_dark.png?alt=media&amp;token=fd986f36-9ae4-4042-a0ad-ea9beef4db25">wstETH_dark.png</a></td></tr><tr><td><strong>frxUSD Earn Pool</strong></td><td>Ethereum</td><td></td><td><a href="/vaults/vaults/gearbox/ethereum/frxusd.md">frxUSD</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FB4jgrPlgMgv3RosJtcrl%2Fimage.png?alt=media&amp;token=99378ab6-c698-42c9-b283-80a073a5db19">frxUSD.png</a></td><td><a href="https://2037261023-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fb7kueLGoREgSbtMhzWGT%2Fuploads%2FTHMDQTG8rR6w5IOXaYwK%2FfrxUSD_dark.png?alt=media&amp;token=bfb9bca4-ec19-44a7-b147-637caec02ade">frxUSD_dark.png</a></td><td></td></tr></tbody></table>

### Protocol overview

[Gearbox](https://gearbox.fi/) is a modular lending environment that enables borrowers to open *credit accounts* and take leveraged positions in whitelisted collateral, such as LSTs, LRTs, RWAs, and ERC-4626 vaults. Depositors supply liquidity to **ERC-4626 Earn pools** and earn yield; curators configure parameters and safeguards for each market.

{% hint style="success" %}
**Live metrics:** Track TVL, borrow APY, supply APY, utilisation and more for KPK Gearbox vaults on Dune: <https://dune.com/kpk/kpk-gearbox-vaults>
{% endhint %}

### Curator model

Curators set boundaries for underlying markets such as liquidation thresholds, collateral quota limits, utilisation caps, oracle choices and adapter allowlists. Unlike allocator models (e.g. Morpho), curators don’t move funds between markets. They define safe operating conditions and can pause pools in emergencies.

KPK’s role is twofold: **pool creation** and **pool monitoring.** The first sets up each pool with defined parameters and safeguards; the second keeps those settings in line with changing liquidity, utilisation, and risk conditions.<br>

1. **Pool creation and configuration**
   * Initial due diligence before collateral whitelisting.
   * [Dual-oracle pricing](https://docs.gearbox.fi/gearbox-permissionless-doc/competitive-advantages/dual-oracle-pricing) for every asset, with staleness/ownership monitors.
   * Utilisation caps to preserve an instant withdrawable liquidity buffer.
   * Quota limits (pool-wide exposure caps) per strategy/asset.
   * Direct LST/LRT withdrawals where supported (e.g. Mellow assets).
   * Min/max debt limits to bound borrower behaviour.
   * Strict adapter allowlists (AMM swaps, selected ERC-4626 vaults).
2. **Pool monitoring and fine-tuning**
   * Track borrow utilisation, liquidity depth, oracle health, wrapper status, and governance changes.
   * Balance borrow and lend sides via parameter updates (quotas, LTs, utilisation caps).
   * Protective actions on alerts: pause, tighten/disable collateral, adjust limits.
   * Material changes are recorded in the [KPK change log](https://docs.kpk.io/changelog).

For the full methodology, see the [Curation Risk Framework](/vaults/infrastructure/risk-framework.md).

### Vault parameters

Per-pool parameters (tiers, quotas, LTs, oracles, adapters) are documented on the product subpages and kept up to date in the [Changelog section](https://docs.kpk.io/changelog).


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