Clearpool, a decentralized marketplace for uncollateralized lending, has launched on Polygon, a scaling solution provider for ethereum, in a bid to enhance capital efficiency and user experience.
Clearpool’s decentralized finance (DeFi) protocol gives institutional borrowers access to uncollateralized liquidity provided by a decentralized network of lenders. Since its launch on the ethereum network in March 2022, it has originated US$180 million of institutional loans.
Polygon is a blockchain development platform used by companies such as Meta, Stripe and Reddit. It offers scalable, affordable, secure, and sustainable blockchains for Web3. It hosts more than 19,000 decentralized applications (dApps).
Clearpool is backed by leading global investors such as Sequoia Capital India, Arrington Capital, Sino Global Capital, and HashKey. Its current borrower network includes Amber, Auros, FBG Capital, Folkvang, Jane Street and Wintermute.
The firm says it attracts new lenders and borrowers to DeFi by enabling more efficient opportunities to manage and hedge risk through unique concepts such as single-borrower liquidity pools and tokenized credit.
It aims to bridge the gap between DeFi and the traditional lending and borrowing markets, and recently launched its first permissioned pool in partnership with Jane Street, a quantitative trading firm, and BlockTower Capital, a crypto and blockchain investment firm.