There's no looping on Gearbox anymore. Why? Because there never was. Looping is fundamentally inefficient. You borrow against your deposit, buy more of the same asset, and redeposit it repeatedly to create leverage. Every step bleeds efficiency. ◾️ Looping manually? Repeatedly buy on DEXes and pay slippage. ◾️ Want to automate? Incur cost for a tool. ◾️ Don't want to incur slippage? Manually mint the asset at every loop. ◾️ Want to close a loop by unstaking assets to avoid slippage? Months lost to unstaking every loop. ◾️ Want to change the asset you loop? Wind down your current loop and create another. ◾️ Want to loop a non-tokenised or non-DEX asset like Convex staked positions? You can't. Looping isn't just yield-inefficient, it also limits protocols to lending only against tokens and never against contracts, stifling the innovation composability makes possible. And that's why Gearbox has never had looping. Leverage on Gearbox has never been built on loops, but on credit. Borrowers don’t receive a one-block flashloan; they receive real credit for the full duration of their position by opening Credit Accounts. ✅ Leveraging manually? No need, Gearbox can batch all of your actions from borrowing to the final swap in a single transaction at no additional cost. ✅ Don’t want to incur slippage? Use your credit to mint from the contract instead of swapping at a DEX and save months of yield. ✅ Unstaking a leveraged position? You can unstake your entire position in one go, with zero slippage and in a fraction of the time. ✅ Want to switch the asset you leverage? No need to pay back the credit, simply swap it to another asset. ✅ Want exposure to a non-tokenised position or an asset with zero DEX liquidity? Your credit flows through DeFi, unlike your loops. Composability isn’t about putting tokens in a lending pool, it's about protocols building on each other to create new, innovative financial primitives. The future of credit isn't stuck in a pool. The future of credit isn't limited to DEXes and tokens. The future of credit powers everything in DeFi. The future of credit is Gearbox Permissionless, DeFi's permissionless leverage layer. ⚙️🧰