Clearpool, a leading player in the decentralized finance (DeFi) sector, has announced its expansion to Polygon’s zkEVM, marking the third blockchain solution to be integrated with the protocol’s lending marketplace. Clearpool Integrates Polygon zkEVM to revolutionize the lending marketplace by enabling high-speed transactions, reducing fees, and enhancing security.
Clearpool Integrates Polygon zkEVM for Expansion, Brings fast Transactions and Enhanced Security
Clearpool, known for its innovative approach to DeFi lending, has been at the forefront of integrating advanced blockchain solutions to provide a seamless and efficient lending marketplace. The integration with Polygon’s zkEVM showcases Clearpool’s commitment to uplifting robust technology to deliver superior services to its users.
Fasanara and Portofino, market makers and borrowers of Clearpool since March 2023, have now launched the first permissionless lending pools on the Polygon zkEVM Layer 2 platform.
Polygon’s zkEVM, a scaling solution designed to enhance the scalability of decentralized applications (dApps), is a key component of Polygon’s suite of solutions. A Zero Knowledge roll-up, or zk roll-up, is a mechanism that allows transactions to be batched together before being approved on the Ethereum main chain.
What will be the ripples of Clearpool’s decision in crypto
Clearpool’s decision to integrate with Polygon’s zkEVM is a significant development that’s set to bring about a host of benefits for its users. First and foremost, this integration will supercharge Clearpool’s platform performance, leading to faster transaction speeds.
The integration with Polygon’s zkEVM will also lead to lower transaction fees. This is a game-changer as it makes the lending marketplace more accessible to a wider audience. Additionally, the enhanced security offered by zkEVM will provide Clearpool borrowers with the confidence to transact, knowing that their transactions are secure.
In a continued collaboration with Idle, a decentralized yield automation protocol that has been Clearpool’s Oracle since January 2023, Clearpool is enhancing its zkEVM ecosystem with the introduction of Idle Yield Tranches (YTs). These innovative DeFi primitives, built on top of the zkEVM pools, allow for the segmentation of yields and risks, thereby catering to a diverse range of users.
About clearpool
Robert Alcorn, CEO and co-founder of Clearpool, said, “This integration is a key step for the protocol by adding another building block to Clearpool’s expanding ecosystem.” He added, “Since its inception, Clearpool was designed to be a multichain protocol that is cost-effective, seamless, and scalable to provide value, efficiency and accessibility for millions of users. We continue to deliver on that strategy and vision.”
Since its launch in March 2022, Clearpool has made impressive strides, originating over $400 million in loans and attracting a diverse user base that includes crypto and traditional finance institutions like Wintermute, Jane Street, Fasanara Capital, and CoinShares. After launching its mainnet on the Ethereum network in March 2022 and Polygon PoS in July 2022, Clearpool has established itself as a scalable multichain platform.
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