Clearpool Launches on Optimism & Secures OP Grant to Boost Yields

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

Clearpool has announced its expansion and successful launch to 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.

Early Momentum!

Clearpool’s Optimism Market is already gaining momentum with the launch of 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.

Boosted Yields! Clearpool Secures OP Grant From the Optimism Foundation

In recognition of Clearpool’s dedication to innovation and pioneering development of uncollateralized lending products in the DeFi market, Clearpool has been granted 150,000 OP tokens (approx. US$210,000 at the time of writing) from the Optimism Foundation. The grant represents the highest tier of rewards possible in Optimism’s latest grant cycle, and demonstrates the value that Clearpool brings to the Optimism ecosystem.

The 150,000 OP tokens will be entirely designated by Clearpool to bootstrap the Optimism Market borrower 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.

The First 60 Day Campaign: Earn Extra OP Rewards

The first campaign will start immediately and run for 60 days where all lenders to borrower pools on the Clearpool Optimism Market will receive additional LP rewards paid in OP. The OP rewards will be distributed, in addition to the interest paid by borrowers, via a weekly airdrop directly to the address used for providing liquidity. A daily snapshot will be taken where OP rewards will be calculated on the proportion of liquidity provided by the LP at that specific time. The campaign will run from 26th October 2023 until 24th December 2023.

The rewards will be subject to a maximum APR cap of 5% and total daily distribution amount of 657 OP. Please see the table below for more details.

Terms & Conditions:

• Snapshots will be taken every day at randomized times
• The first snapshot will be taken on 26th October 2023, and the final snapshot will be taken on 24th December 2023.
• Only LPs that were providing liquidity at the time of the snapshot will accrue OP rewards for that particular day
• OP rewards will be calculated based on the proportion of liquidity that was provided by the LP at the time of each daily snapshot
• OP rewards will be distributed weekly to the address you provide liquidity from
• Clearpool reserves the right to a final decision in respect of OP rewards allocation

Double OP Incentives via Idle Finance Yield Tranches

The pools are further enriched by Idle’s Yield Tranches (YTs), which have been successfully expanded to the OP Mainnet and offer advanced risk diversification. Idle has also successfully received a grant of 150,000 OP tokens from the Optimism Foundation which will be entirely designated to reward lenders via YTs on Clearpool’s Optimism Market.

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.

By depositing on Clearpool through Idle YTs on the Optimism Market, lenders will be able to gain risk-adjusted exposure to Fasanara Capital and Portofino Technologies’s borrowing pools, all while accessing the combined OP tokens distributed by both Clearpool and Idle. Lenders can access YTs directly on each borrower pool on the Optimism Market.

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.

Click here to visit the Clearpool Optimism Market and start lending.