Clearpool Is Extending Its DeFi Credit Offerings With the Launch of Several New Products
Clearpool, a protocol for decentralized borrowing and loaning at an institutional level, has announced additional product lines to strengthen and improve its DeFi lending solution.
Clearpool Prime is a non-custodial DeFi lending protocol for fund managers, and the firm claims to expand its services to accommodate more customers.
According to the information provided by the firm, "Clearpool Prime will serve as the portal for corporate lending in DeFi when it officially launches in the first quarter."
As a result of the news (1), the value of Clearpool's native token, CPOOL, has increased by nearly 21 percent in the last 24 hours, and it is currently trading at around $0.05617.
Clearpool offers enticing interest rates on Circle's USDC and extra liquidity provider (LP) benefits that are paid in CPOOL governance tokens.
Clearpool, which is accessible via the Ethereum and Polygon networks, is particularly proud of the overall liquidity given, which is around $2,753,585, as well as the APR index, which is approximately 9.59 percent.
The Offerings are Already Live
The firm unveiled several features in addition to the DeFi lending protocol Clearpool Prime. These new features include Term pools, Exchange Traded Pools (ETP), and secondary trading possibilities for cp and tp Tokens, amongst others. Consequently, the firm is hopeful that its ample liquidity will place its services in a position of advantage over its rivals on the market.
Clearpool's Permissionless pools may now be formed in various digital assets, along with all ERC-20 and wrapped ERC-20 tokens like wETH and wBTC. Other digital assets may also be supported in the future.
The firm has stated that the expansion of the supported digital assets is intended to make the liquidity pool more extensive.
Conversely, term pools will make it possible for corporate borrowers on Clearpool to acquire term liquidity by creating sub-pools that include increased returns and specified maturity dates. Consequently, institutional lenders can earn extra income by locking their cpTokens within the term pools.
Exchange Traded Pools, which have just been introduced, will make it possible for lenders to spread their liquidity across several borrower pools using a single transaction.
ETPs are anticipated to begin operations around the fourth quarter of this year. They will offer a new degree of flexibility and diversity to lenders in the DeFi area. In the future, users can propose other ETP techniques through governance votes, " stated Clearpool.
The organization plans to unveil a freshly improved website sometime in February. In addition, the organization declared that by the end of the first quarter, it would investigate the possibility of refactoring permissionless UI/UX.
Amber Group, Bastion Trading, FBG Capital, and Folkvang are just a few companies currently active as borrowers on the Clearpool market. Through the networks of Ethereum and Polygon, Clearpool has been responsible for facilitating a total of 349,728,880 USDC worth of loans.
Clearpool has solid financial backing from companies like Sequoia Capital India, Arrington Capital, Sino Worldwide Capital, HashKey, and Wintermute. The company is optimistic that it will be able to expand into more global countries as the crypto currency sector continues to develop.