Review of the Month: May 2022
👋 Hello, Poolsiders!
Welcome back to our Review of the Month. There’s a lot to cover, as Clearpool had a groundbreaking and productive month where we launched our first permissioned pool in partnership with Jane Street and Blocktower Capital. Without further ado, let’s look back at everything Clearpool achieved in May.
Clearpool launches its first Permissioned Lending Pool in partnership with Jane Street and BlockTower Capital (3 May)
Clearpool launched its first permissioned liquidity pool in partnership with Jane Street, one of the world’s leading quantitative trading firms, and BlockTower Capital, a leading crypto and blockchain investment firm. The pool has funded with over $75m of USDC to date.
Ian McGuinn of Jane Street crypto trading said, “Firms like Clearpool are opening up new avenues for traditional firms to access financing in the crypto space.”
Sanat Rao, General Partner at BlockTower Capital said, “Clearpool has built a high-quality institutional capital markets platform, and we are excited to partner with them and Jane Street to launch their first permissioned pool”
The launch of this pool is a watershed moment for DeFi. This is the first time that a major Wall Street institution has entered into a borrowing transaction on a DeFi protocol, which places Clearpool firmly at the forefront of this burgeoning space.
Bloomberg: Jane Street Uses Decentralized Finance to Borrow Crypto
Coindesk: Jane Street Dives Into DeFi With $25M USDC Loan
The Block: Jane Street makes DeFi play with planned $25 million USDC loan
Forkast: Clearpool launches US$25 mln permissioned liquidity pool with Jane Street, BlockTower Capital
Altcoin Buzz: Clearpool Brings Wall Street Giant to Crypto
The Defiant: Wall Street’s Jane Street Borrows $25M Via DeFi Lending Platform
Crypto Valley Journal: Trading giant Jane Street experiments with DeFi
Clearpool Impromptu AMA (4 May)
Following the announcement of Clearpool’s partnership with Jane Street and BlockTower, we were overwhelmed positive feedback from our community, partners, and investors.
Our CEO, Robert Alcorn, then hosted an impromptu AMA on our Telegram chat group to answer some questions from the community.
Clearpool was featured on the front page of The Block (18 May)
Clearpool was featured by The Block, one of the leading global information services brand in the digital asset space. In a deep dive interview with CEO, Robert Alcorn. Here are some of the highlights:
Defi 2.0. Clearpool is part of a new wave of DeFi, often called “DeFi 2.0,” which looks to open the door to previously untapped lending opportunities in crypto. This new school of lenders could bring a huge influx of capital from traditional credit markets.
Permissionless pools. While its institutional pools have grabbed most of the attention, the thing Alcorn feels makes Clearpool stand out from the crowd in crypto is its permissionless pools. These are continuous pools with no maturity date, a thing Alcorn describes as being almost like revolving credit facilities. “There’s nothing like it in DeFi or TradFi,” he says. “It’s really a bigger story than Jane Street or anyone else opening a permissioned pool.”
Clearpool v2 Launched (18 May)
Clearpool v2 went live! We never stop building at Clearpool and we were excited tolaunch this upgrade which brings multiple benefits to the protocol and ecosystem. Whilst this upgrade brings important improvements that will facilitate multi-chain support and seamless implementation of future product enhancements, all of the work has been done under the hood, so the good news is that everything looks familiar to you!
Clearpool v2 introduces:
- Multi-chain support, functionalities enabling borrowers to launch pools on both Ethereum and Polygon, and later on any other supported chains
- Upgradable contracts, allowing for future product innovations to be implemented without the need to migrate liquidity to new pools
This upgrade’s followed by the introduction of:
- New borrower pools — launching from May 2022
- New improved UI interface — June 2022
- Clearpool v2 deployed to Polygon — Q3
- Enhanced permissionless pool interest rate curves — Q3
- CPOOL native staking — Q3
- CPOOL buybacks — Q3
Clearpool AMA on Twitter Spaces (18 May)
In response to our partners and community’s excitement regarding our partnership with Jane Street and BlockTower Capital, we hosted a live AMA on our Twitter Spaces. On May 18, Robert Alcorn, our CEO, and Jakob Kronbichler, our CCO, were giving updates on Clearpool progress and replying to the community’s questions.
Polygon featured Clearpool in their Research Article about Undercollateralized Crypto-Lending Ecosystem (24 May)
As we prepare for our upcoming integration with Polygon, Clearpool was featured in their overview of the undercollateralized (UC) crypto-lending ecosystem, a rapidly-growing sector that is disrupting TradFi. Here are some of the highlights.
“Clearpool has effectively differentiated itself within the space by offering variable interest rates rather than the fixed interest rates of Maple and TrueFi. This important yet subtle change primes Clearpool for dominating an untouched sub-sect of undercollateralized lending. As a younger protocol in its growth phase, it is primed to realize its massive potential alongside the growth of crypto UC lending as a whole.”
ELI5 Article Explaining What Clearpool is (26 May)
In the crypto world, the best way to learn about it is to use it! But when it comes to your hard-earned stables, you want to know what it is before you start! So, we made an ELI5 (Explain Like I’m 5) article to simplify the concepts of Clearpool for you. This is a beginner guide that covers all you need to know about Clearpool:
- What happens on Clearpool?
- Who are the borrowers?
- What risk am I taking when lending to these borrowers?
- How much would I lose if the borrower defaults?
- What are cpTokens?
- What is coming next from Clearpool?
The total loans originated on Clearpool breached US$120M (27 May)
The total loans originated on Clearpool breached US$120M! The appetite for uncollateralized liquidity in DeFi continues to rise, regardless of market conditions. And the appetite for risk-adjusted returns, especially for stablecoins, is undoubtedly increasing even more in a turbulent market environment like now! Keep an eye out for more borrower pools launching soon!
CPOOL CEX Staking Pools Extended (29 May)
We extended the CPOOL staking pools on both KuCoin and AscendEX for another month until the end of June. Please note, the new APY for both pools will be 20%. If you’re already staking, poolsiders don’t need to do anything to continue earning rewards. On both exchanges, the pools will be extended with the new APY which means no need to unstake and restake in a new pool.
If you haven’t staked your CPOOL yet, you can do it here:
- KuCoin: www.kucoin.com/earn/promotion
- AscendEX: https://ascendex.com/en/staking/investment-product-details/CPOOL-S
Clearpool featured by Consensys
An insightful and well-written overview of Clearpool was created by ConsenSys, the leading Ethereum software company.
“Having launched mainnet just a few months ago, Clearpool has made significant strides in becoming multi-chain by launching v2 of the protocol and establishing strong partnerships with digital asset infrastructure providers such as Qredo.”
“More institutions are expected to join as crypto trading becomes a clear growth area as evidenced by Jane Street, a major Wall Street institution, entering into a borrowing transaction on Clearpool protocol.”
Clearpool will Attend Consensus 2022 by CoinDesk
Before close this article, we want to let you know that the Clearpool team will attend Consensus 2022 by Coindesk on June 9–12, 2022 in Austin, Texas. Rob, our CEO, and the other team members will be there! If you want to meet and talk with us, kindly reach out to us!
That is all for this month’s recap. Bull or bear market, Clearpool keeps building. Here’s to another productive month! 💪