Clearpool has officially launched the T-Pool for Hex Trust’s new stablecoin USDX on Flare. The new product offers a simple and straightforward way to earn USDX yield plus extra FLR rewards.
T-Pool Features
- Flexibility: There are no lock-up periods, meaning you can stake and withdraw your USDX anytime without restrictions.
- Maximize Returns: Not only do you earn 4% APY on USDX, but your returns are boosted via extra FLR rewards.
For a smooth user experience, we have created a detailed guide to walk you through earning USDX yield and extra FLR rewards on Clearpool. Let’s begin by exploring USDX, cUSDX, and FLR rewards.
USDX: The stability you need, the flexibility you want
Developed by HT Digital Assets, Hex Trust’s tokenization ecosystem, USDX will provide a vital DeFi primitive on Flare, with backing maintained at a steadfast 1:1 ratio against the U.S. dollar or equivalently valued assets. These reserves, which primarily consist of 1–3 month T-Bills, are securely held by regulated tier-1 financial institutions, ensuring that holders can place their trust in the value and resilience of the stablecoin.
Understanding cUSDX
cUSDX is the equivalent of an LP (Liquidity Provider) token commonly used in many DeFi protocols. It represents a 1:1 value of your deposited USDX. When you deposit USDX on Clearpool, you not only earn a yield on your USDX but also receive additional rewards in the form of FLR tokens. Users can claim USDX and FLR rewards anytime without withdrawing their initial staked USDX.
FLR Rewards
Flare is the blockchain for data: an EVM smart contract platform specifically designed to support data intensive use cases, including AI and real world asset tokenization. With decentralized, enshrined oracles secured at the network layer, Flare is the only smart contract platform optimized for decentralized data acquisition: price & time series data, blockchain event & state data, and web2 API data. By giving developers trustless access to the broadest range of data and data proofs at scale and for minimal cost, Flare expands the utility of blockchain and supports the development of new and improved use cases.
FLR is the native token of Flare. It can be used to secure the network through staking, support the provision of decentralized data by delegating to the FTSO, participate in governance and pay for transaction fees.
Getting Started
Clearpool currently supports MetaMask and Wallet Connect. Before proceeding, ensure you have enough FLR tokens to cover transaction fees on the Flare network. You can acquire FLR from centralized exchanges such as Bybit or Gate and transfer it to your FLR wallet. Additionally, ensure you have USDX on the Flare network. Accessing the T-Pool is just a few easy steps away with everything set up.
Depositing USDX
- Head to https://clearpool.finance/tpool and connect your wallet
- Ensure you’re connected to the correct network, in this case, Flare
- In the My Portfolio section, click Deposit
- Enter the amount of USDX that you would like to stake and click Deposit
- Approve the transaction, allowing the Clearpool protocol to spend the asset in your wallet interface
- Approve the final transaction in your wallet interface
- You will now receive cUSDX in your wallet, which is a 1:1 representation of your staked USDX
Claiming Rewards
Once you have staked your USDX and received cUSDX, you will automatically start earning USDX and additional WFLR (wrapped FLR) rewards. These rewards accrue continuously each block, allowing you to see your returns grow directly on the Clearpool app and withdraw them anytime.
- Head to https://clearpool.finance/tpool and connect your wallet
- Ensure you’re connected to the correct network, in this case, Flare network
- In the Pool Rewards section, click Claim Rewards
- Approve the transaction in your wallet
- The rewards will then be sent to your wallet
Withdrawing USDX
- Head to https://clearpool.finance/tpool and connect your wallet
- Ensure you’re connected to the correct network, in this case, Flare network
- Click Withdraw on the My Portfolio section
- Enter the amount of USDX that you would like to unstake and click Withdraw
- Approve the transaction, allowing the Clearpool protocol to spend the asset in your wallet interface
- Approve the final transaction in your wallet interface
- The unstaked USDX will now be in your wallet
If you have any questions, please contact the team in the Clearpool Telegram or Discord community chats.
To purchase USDX, please contact HT Digital Assets.
Visit the T-Pool here to earn rewards on USDX.
About Clearpool
Clearpool is the leading decentralized finance credit marketplace backed by leading investors, including Sequoia Capital, HashKey Capital, Arrington Capital, and many others. Launched in March 2022, Clearpool has originated over US$530 million in loans with a growing user base spanning both crypto and TradFi institutions such as Wintermute, Jane Street, Fasanara Digital, CoinShares, and others. The protocol is live on Ethereum, Polygon, Optimism, Mantle Network, and Avalanche.
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