Clearpool Brings Institutional-Grade DeFi to the Polygon Ecosystem
Clearpool, the first decentralized marketplace for uncollateralized institutional lending, is launching on Polygon to bring greater capital efficiency and improved user experience to the platform.
Clearpool will leverage the benefits of the Polygon network to allow for large-scale, institutional DeFi to be brought into Polygon’s DeFi ecosystem. By operating on Polygon, users will enjoy significant improvements to both speed and transaction fees. This will allow Clearpool’s substantial borrower network — which includes Jane Street, Amber, Auros, FBG Capital, Folkvang, and Wintermute — more efficient access to uncollateralized liquidity provided by a decentralized network of lenders.
Read more: DeFiForAll: The State of Lending on Polygon
One of the major roadblocks many institutions have faced when interacting with DeFi services is the limitations on network throughput and the overhead coming from Ethereum's prohibitive fees; launching services on Polygon largely mitigates this issue.
Already, Clearpool has facilitated over $180 million worth of institutional loans since it first debuted on the Ethereum network in March 2022. Its users include leading crypto and TradFi institutions such as Wintermute and Jane Street.
Since its inception, Clearpool was designed to be a multichain protocol that is cost-effective, seamless, and scalable, which millions of users can access. The deployment to Polygon will see the launch of new borrower pools exclusive to the Polygon network, as well as the introduction of an exclusive promotion. For a limited period, lenders to the genesis liquidity pools launched on Clearpool/Polygon will be able to farm MATIC rewards, in addition to the USDC interest and CPOOL LP rewards already available to Liquidity Providers.
Clearpool is backed by leading global investors such as Sequoia Capital India, Arrington Capital, Sino Global Capital, and HashKey. Furthermore, the firm’s current borrower network includes Amber, Auros, FBG Capital, Folkvang, Jane Street, and Wintermute.