The DeFi protocol, Clearpool, recently announced the launch of its uncollateralized lending on the fast scaling solution, Polygon. The launch is intended to enable users to maximize capital and enjoy a promoted level of efficiency with an enhanced experience.
The CLEARPOOL protocol intends to give access to its network to well institutional borrowers and lenders having a Decentralized network. CLEARPOOL has, in fact, been a large-scale platform providing services to solve decentralized finance (DeFi) problems. The integration with the Polygon network would be the first of its kind for the platform.
Since March 2022, which marks the inception of CLEARPOOL’s launch on the Ethereum network, the platform has successfully transacted over $180 million worth of institutional loans. With TradeFi institutions and crypto users constituting a large percentage of its more frequent users. More TradeFi companies and crypto users are gearing up to enjoy better scalability and efficiency as by-products of this Integration with Polygon.
CLEARPOOL was co-founded by Robert Alcorn who also doubles as the Chief Executive Officer is opined that the launch of CLEARPOOL on Polygon is a remarkable milestone on its Roadmap.
He emphasized that this integration had always been a part of their futuristic plans right from the first day. Alcorn supports that the integration would favor the Polygon ecosystem by introducing Institutional DeFi. Not just that, CLEARPOOL sees itself going to a whole another level in user adoption and building better access to its network of lenders. The Launch would feature major upgrades to its platform, which is user-centric. CLEARPOOL’s launch is strongly manned by some prominent global investors like Arrington Capital, HashKey Capital, Sequoia Capital India, and several others.
The launch of the Polygon ecosystem will accommodate lenders to be able to farm rewards in Polygon’s native token(Matic) with an accumulation of interest in USDC and other rewards in CPOOL LP. This would come with the prerequisite that lenders are to the genesis liquidity pool.
From the lenses of staff members at Polygon, Head of DeFi and Labs for the Polygon network; Hamzah Khan stated that the team aims to bring on board about 1 million web3 users, and to make this happen, only platforms like CLEARPOOL can help set that pace.
Hamzah Khan also applauded the team for its innovation in borrowing and lending, which it does by building a marketplace that has become a home for unsecured institutional Capital. The lending platform remains the breeding ground for a Decentralized network of crypto investors which constitutes a channel for institutions to have access to borrow liquidity, having no collateral.