Summary

This proposal sets March 16, 2026 as the final sunset date for all v3.0 (legacy) Credit Accounts on Ethereum.

All Credit Accounts remaining open after this date will be liquidated automatically. Liquidation profits will be returned to account owners. LPs can withdraw liquidity at any time.

Amends GIP-279 which set Feb 27, 2026 as the expiration date.

Motivation

Gearbox DAO is transitioning from legacy onchain collateral markets to an RWA-first structure with tokenized assets.

As part of this shift:

• There is no longer dedicated risk oversight for legacy markets (previously managed by Chaos Labs)
• Operating these markets without proper risk supervision is not responsible
• The protocol is focusing resources on the new direction

Legacy pools are currently paused and will resume once quorum is reached on this proposal.

Specification

Expiration

• Expiration timestamp: 1773666000 (March 16, 2026 1:00:00 PM GMT)
• Liquidation fee after expiration: 0.01%
• Liquidation premium after expiration: same as current liquidation fee

Unpause

• Unpause affected CMs. Currently they are paused to avoid liquidations caused by Feb 27'th expiration.

Affected Credit Managers

ETH Market (0xda00...f4f)

USDC Market (0xda00...bf8e)

USDT Market (0x05a8...936e)

DAI Market (0xe714...d823)

GHO Market (0x4d56...ae09)

WBTC Market

tBTC Market

crvUSD Market

DOLA Market

Execution

1. Optimistic execution: Once YES quorum is reached, transactions will be submitted to timelock immediately (without waiting for voting period to end)
2. Before expiration (around 11 AM GMT on March 16): Credit Managers will be paused to limit liquidations to whitelisted liquidators only
3. Liquidation profits will be returned to account owners

Transaction Log

Txn log can be found here
Md5 checksum is a6ce03ee48bd8524e66cd3bff43be65d