Clearpool Integrates with LayerZero to Enable Cross-chain Bridging of CPOOL Tokens
Clearpool has integrated with LayerZero, an omnichain interoperability protocol, to enable seamless and secure bridging of CPOOL, Clearpool’s native utility and governance token, between Ethereum and Polygon.
Clearpool is a decentralized credit marketplace where whitelisted institutional borrowers can launch single-borrower liquidity pools. The marketplace enables anyone to participate in the growth of leading institutions by lending directly to them via the Clearpool protocol, without any centralized intermediary. Lenders can deposit USDC to single-borrower pools and accumulate interest paid in USDC and CPOOL — the Clearpool utility & governance token. Following Clearpool’s recent launch on Polygon, lenders on the Polygon market can also earn additional MATIC rewards during a special promotional period.
Clearpool is bridging traditional lending and borrowing markets into DeFi. The platform was designed from the ground up to achieve this by becoming a cost-effective, frictionless, and scalable multichain protocol that anyone can use. With that goal in mind, Clearpool recently launched on Polygon, the second blockchain integration following the previous launch on Ethereum, to provide greater capital efficiency and improved user experience. The integration of LayerZero’s bridging technology now enables the CPOOL token to be bridged between Ethereum & Polygon directly via the Clearpool app.
LayerZero is an omnichain interoperability protocol that has emerged as one of the most promising protocols that allow dApps to integrate across multiple blockchains in a trustless and efficient manner. The generic messaging protocol connects dApps across chains using on-chain Ultra Light Nodes, which combine light node’s security with middle-chain’s cost-effectiveness.
Clearpool’s integration with LayerZero enables CPOOL tokens to communicate directly across chains via LayerZero’s transport layer. This process eliminates the security risks and compromises associated with middle-chain consensus or wrapped asset smart contracts.
Robert Alcorn, CFA — Cofounder & CEO of Clearpool
“Following the recent launch of Clearpool on Polygon, we are excited to announce that we are integrating with LayerZero to enable the cross-chain transfer of CPOOL. We are looking forward to leveraging the LayerZero infrastructure and developer tools toward greater interoperability in a number of facets of Clearpool.”
Ryan Zarick — Cofounder & CTO of LayerZero Labs.
“We’re excited that Clearpool is leveraging the LayerZero protocol and it’s Omnichain Fungible Token standard (OFT) as its cross-chain messaging solution in order to enable seamless transfer of CPOOL across chains and offer an improved user experience across chains for broad DeFi use cases.”
About LayerZero
LayerZero is an omnichain interoperability protocol that allows dApps to build across multiple blockchains in a trustless, efficient manner. LayerZero connects dApps across chains using on-chain Ultra Light Nodes, which achieve the security of a light node with the cost-effectiveness of a middle-chain. Using the protocol, developers can turn their dapps into omnichain-applications using a single, simple interface.
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About Clearpool
Clearpool is the first decentralized marketplace for unsecured digital asset liquidity, where institutional borrowers can create single-borrower liquidity pools and compete for uncollateralized liquidity directly from a decentralized network of lenders. 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.
Clearpool is building the architecture to facilitate flows between traditional capital markets and the burgeoning DeFi ecosystem. Clearpool is backed by leading investors from both traditional venture capital and blockchain, including Sequoia Capital India, Arrington Capital, Sino Global Capital and Wintermute.
