Summary

This proposal reschedules the expiration date for the sunset of all Credit Accounts in v3.0 markets on Ethereum.

The objective is to migrate all remaining activity to v3.1. Any Credit Account that does not migrate before the expiration date will be closed automatically. Liquidation profits (permium-execution loss) will be returned to users.

LPs are unaffected and may withdraw liquidity at any time.

Motivation

Continuing to support multiple protocol versions creates unnecessary operational overhead and limits the ability to focus on the more efficient and scalable v3.1 system.

In addition, Gearbox’s strategic shift toward becoming a neutral platform for building credit products is no longer compatible with maintaining a DAO-preferred curator - a role previously held by Chaos Labs.

Specification

Expiration

• New expiration timestamp for Credit Facades: 1772193600
  Date and time (GMT): February 27, 2026 12:00:00 PM
  Liquidation fee after expiration = 0.01%
  Liquidation premium after expiration stays the same as current liquidation fee.

Emergency Liquidator whitelist

Whitelisting one more liquidator maintained by DAO contributors will allow to efficiently liquidate Convex-staked sUSDe/scrvUSD LP, reducing slippage to refund more to the account owners.

Credit Managers

ETH Market (0xda00...f4f)

wstETH Market (0xff94...244b)

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

Prior to expiration, Credit Managers will be paused limiting liquidations to whitelisted addresses with the sole purpose of returning profits to account owners after that.
After liquidations, they will be unpaused.

Transaction log

Txn log can be found here
Md5 checksum is 608e805017aa6e54ad373a0c0b45796e