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Clearpool Launches on Optimism’s  OP Mainnet & Secures OP Grant

Lenders to the inaugural OP borrower pools will be  rewarded with additional OP tokens.

SINGAPORE, October 25, 2023 – Clearpool, the leading DeFi credit marketplace,  has announced its expansion and successful launch on the OP Mainnet. This low cost and lightning-fast Ethereum L2 blockchain, powered by Optimism, provides the  ideal foundation for Clearpool to expand its innovative uncollateralized lending and  borrowing protocol, the first of its kind to join Optimism’s thriving ecosystem. 

Inaugural Borrower Pools 

Clearpool’s Optimism Market is already gaining momentum with the launch of the  first permissionless borrower pools by Fasanara Digital and Portofino Technologies.  The permissionless pools on Clearpool enable users to lend directly to whitelisted  institutions, earn dynamic risk-adjusted returns that auto-compound on every block,  all while enjoying the freedom of no lock-up periods. All users need is a supported  wallet interface (such as MetaMask) in order to connect and start lending. 

The pools are further enriched by Idle’s Yield Tranches (YTs), successfully  expanded to the OP Mainnet and designed for advanced risk diversification. YTs  represent a powerful solution to effectively mitigating the risk factors inherent to the  DeFi credit securitization market. These innovative primitives allow segmenting risks  and yields, catering to a diverse range of users by offering two risk-return profiles:  Senior holders benefit from a full-spectrum coverage, provided by the Junior class’  liquidity; Junior holders benefit from boosted returns, as they receive a higher share  of yield in exchange for the protection offered. 

Boosted Yields: Clearpool & Idle Secure OP Grants From the Optimism  Foundation 

In recognition of Clearpool and Idle’s dedication to innovation and pioneering  development of uncollateralized lending products in the DeFi market, both protocols  have been granted 150,000 OP tokens each from the Optimism Foundation. 

These grants represent the highest tier of rewards possible in Optimism’s  latest cycle, and demonstrate the value that both protocols bring to Optimism  by transforming the lending landscape. 

The 300,000 OP tokens (approximately $400,000 at the time of writing) will be  entirely designated by Clearpool and Idle to bootstrap the Optimism Market pools. 

The OP rewards enhance the sector’s most attractive risk-adjusted returns for  lending stablecoins. Users that lend on Clearpool will receive additional OP rewards  sent to the address they provide liquidity from, in addition to the interest paid by  borrowers. 

By depositing on Clearpool through Idle YTs, lenders will be able to gain risk adjusted exposure to Fasanara Digital and Portofino Technologies’s borrowing  pools, all while accessing the combined OP tokens distributed by both Clearpool and  Idle. 

Building DeFi’s Leading Multichain Credit Marketplace 

“The launch on Optimism represents another key milestone for the Clearpool  protocol, as we continue to deliver our vision of building a cost-effective and scalable  multi-chain protocol for all types of DeFi users. We’re also delighted to continue our  collaboration with Idle and jointly reward the Clearpool ecosystem with the OP  tokens granted by the Optimism Foundation.” Jakob Kronbichler, Co-founder of  Clearpool

“We believe that in the coming years, the global debt activity will move on-chain,  enabling programmable and auditable transactions, and paving the way for a new  era of innovation in DeFi. Today’s launch stands as a significant milestone for Idle  and Clearpool’s dedicated mission to advance the DeFi credit market, setting new  standards in risk diversification and capital efficiency. Now, users have the power to  customize their DeFi strategies to match their risk tolerance, enabling them to  construct a yield portfolio that aligns with their financial goals and aspirations” Matteo Pandolfi, Founder at Idle

About Clearpool 

Clearpool is the leading decentralized finance credit marketplace. A permissionless  protocol enables institutions to raise unsecured liquidity directly from DeFi markets,  while a separate fully permissioned platform further meets the compliance needs for  

wholesale borrowing and lending of digital assets by institutional market participants.  Liquidity providers on Clearpool earn attractive yields, with pool interest rates  enhanced by additional rewards paid in CPOOL — the protocol’s utility and  governance token. Clearpool LP tokens, called cpTokens, are the building blocks for  a system of tokenized credit and on-chain risk management. 

Launched in March 2022, Clearpool has originated over US$430 million in loans with  a growing user base spanning both crypto and TradFi institutions such as  Wintermute, Jane Street, Fasanara Digital, CoinShares, and others. The protocol  launched on the Ethereum mainnet in March 2022, followed by the expansion to  Polygon PoS in July 2022 and to Polygon zkEVM in July 2023. 

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About Idle 

Idle DAO is a decentralized organization that builds yield automation infrastructure  for DeFi. From brand new protocols to established institutions, DAOs, and 

individuals, a wide range of DeFi users leverage the Idle protocol to optimize capital  efficiency, manage treasuries, and allocate digital assets effectively. 

Everyone deserves the best for their idle funds in terms of returns and risks. Over  the past four years, Idle has rolled out the features and services to define and shape  the yield aggregation and risk tranching space. 

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