AMA Recap: Polygon x Clearpool — English Edition

Our first AMA of 2022 took place in the Polygon Official Community telegram chat. There were more than 6,700 community members online at the time.

A tweet promoting the event:

Join the Polygon Official Community Telegram chat channel to stay up-to-date with the latest in the cryptosphere, especially if you want to know about Polygon’s latest projects and updates.

Polygon Official Community AMA Recap

Rob | Clearpool CEO

Hi Everyone! Thanks for having me; it’s my pleasure to be here 🙂

I am doing well thanks, looking forward to the AMA!

Chinmay | Polygon: Awesome! To start off, please tell us something about yourself and your crypto journey and how you started Clearpool.

Rob | Clearpool CEO

Sure!

My crypto journey started in 2015 when I was researching blockchain for a digital wealth management platform that I was working on at the time. I got hooked and bought my first crypto shortly after. I have been trading crypto ever since and have been looking for an opportunity to get into the space full-time for a while. I created that opportunity by developing the idea for Clearpool. My co-founder Alessio, the CEO of Hex Trust, and I are ex-colleagues and go back many years. We wanted to create a protocol that would solve the problem of overcollateralization in DeFi borrowing. We worked together to develop Clearpool, and shortly after, I left my job as a trader at a bank and never looked back!

Chinmay | Polygon: Great! Please tell us more about Clearpool and its features; how is it different from the existing competitors?

Rob | Clearpool CEO

Clearpool is essentially a marketplace where institutional borrowers can compete for uncollateralized liquidity directly from the DeFi ecosystem. Borrowers such as market makers, crypto quant funds, or even more traditional institutions can launch single borrower liquidity pools, which DeFi lenders can then fund. Anyone can be a lender, so the opportunities to earn high APYs are open to everyone. Pools are continuous and have a dynamic interest rate model, which rewards lenders with higher returns as the borrower utilizes more of the liquidity from the pool.

Clearpool is unique as the concept of single borrower pools paves the way for a system of tokenized credit. In turn, this will provide lenders with better opportunities to manage and hedge risk. This will attract new lender and borrower profiles to DeFi so that you can think of Clearpool as a bridge between DeFi and the traditional lending and borrowing market — a USD 130 trillion market!

Chinmay | Polygon: In the journey so far, what are the achievements & challenges in terms of partnerships, community, and development?

Rob | Clearpool CEO

Our team has done an incredible job in such a short space of time. The product is currently on the testnet, where anyone can participate in testing. It will launch on the mainnet early in 2022, and we already have a number of high-profile borrowers lined up, such as Amber, Wintermute, Folkvang, Nibbio, FBG, and others in the pipeline. These names should be familiar to most crypto lenders, and due to the way that the Clearpool protocol allows lenders to earn significant rewards in addition to pool interest, it is set to be the most attractive lending venue in DeFi.

We have also announced partnerships with Hex Trust, X-Margin, Lithium Finance, and PARSIQ, with other synergistic partnerships in the pipeline.

Of course, we were also very excited to recently announce that Clearpool will be coming to the Polygon ecosystem!

Chinmay | Polygon: So excited about this 😁 for the platform; what made you guys choose Polygon?

Rob | Clearpool CEO

Clearpool is not just for institutions; anyone can be a lender, as I mentioned earlier. Therefore, we need to ensure that the protocol is easily accessible for all types of lenders.

From the beginning, we intended to make Clearpool a multichain protocol. Polygon is quite simply the best solution for EVM connectivity and scaling and has a huge community that will no doubt find attractive opportunities on Clearpool given the low transaction costs.

This also benefits our borrowers, who get access to a wider, more diversified network of liquidity providers. So, it was an easy choice 💪🏻

Chinmay | Polygon: Perfect! What are your plans for the future, what should the community look out for? What can we expect from you guys in the future?

Rob | Clearpool CEO

It’s a very exciting time for the Clearpool community, with the Ethereum and Polygon mainnet launch coming soon! In the meantime, everyone should check out our testnet version. It has been very well received so far, with most testers applauding the easy-to-use and understand interface. We had over 6000 testers and over 20,000 transactions in the first week of launching on the testnet, so that makes us very optimistic for the mainnet launch!

Soon we will announce details of the protocol’s staking mechanism. Until now, CPOOL holders have enjoyed 100% APR by staking CPOOL on the CEX trading venues (KuCoin, Gate & AscendEX). This will continue until the mainnet launch, but holders should look out for the staking announcement to learn how lucrative it will be to hold and stake CPOOL long term and interact with the protocol.

Following the mainnet launch, we will be releasing new features such as thematic pools for diversification and decentralized derivatives for risk management and hedging.

Chinmay | Polygon: Is there a bug bounty program, and are Clearpool’s smart contracts being audited?

Rob | Clearpool CEO

Yes, we do have a bug bounty! 6000 CPOOL are available to community members who test and can report bugs and suggest improvements, and more details can be found here: Clearpool Testnet Bug Bounty Program.

Our smart contracts are currently being audited by https://pessimistic.io/ and https://www.certik.com/. Security is of paramount importance to the Clearpool team.

Chinmay | Polygon: In 2021, Clearpool closed a USD 3m investment round; who are Clearpool’s investors?

Rob | Clearpool CEO

We were in the luxury position of being significantly oversubscribed for our investment rounds, so we were able to select the best investors with whom to work, such as Sequoia Capital, Arrington Capital, Sino Global Capital, HashKey, GBV, Huobi Ventures, and BCW Group. The full list of investors can be found on our website. They have all been incredibly helpful and supportive, and each of them assists in a number of unique and specialized ways. We feel very fortunate to have them on our side, and most importantly, they all share the long term vision of the Clearpool team and understand the magnitude of the opportunity that lies ahead for Clearpool 💪🏻💪🏻💪🏻

Chinmay | Polygon: If you were to describe Clearpool in a few words, what would that be?

Rob | Clearpool CEO

Decentralized capital markets it’s a description we use on our website and marketing, and it perfectly describes the concept of Clearpool. The protocol will bring together all types of borrowers and lenders worldwide; it levels the playing field, so everyone gets the same opportunities.

Keep up with Clearpool Announcements, join the TG channel, click in the box below:

Some Community Questions

PaulWalker: Hello Rob 🛎️I see one element that caught my attention is that you are using your own token called “cpTokens,” so can you talk a little bit about what it actually is and what it used for?

Rob | Clearpool CEO

cpTokens are what we refer to when we talk about tokenized credit. Each pool on Clearpool has a single borrower. When you supply liquidity to that pool, it will return cpTokens to your wallet in return. These tokens represent the liquidity that you have supplied, they accrue the interest for the pool, and they also represent the credit profile of the pool borrower. This means that you can manage that risk by trading it or hedging against it. There will be many products built on top of Clearpool, which will give LPs optionality in terms of how to do this; we will be starting with secondary trading and a product that is similar to Credit Default Swaps (CDS) from traditional credit markets. This will attract many new lender profiles from TradFi to DeFi, as risk management is very important in order for them to execute their mandates.

👆Not Me👈: Many projects devs abandon for no reason later due to lack of experience. So are you an experienced team, and is your team anonymous or public?

Rob | Clearpool CEO

Our team is very public and very experienced! I mentioned Alessio Quaglini earlier. He is the other co-founder of Clearpool, we used to work together at a bank, and between us, we have a few decades of experience in traditional financial markets. We joined the founding team by Jakob Kronbichler, who joined us from a large fintech alternative lending institution; before that, Jakob had years of experience launching consumer-facing startups. Pavel Ivanov leads our tech team. He and the rest of the team have years of experience developing blockchain projects. They have together won multiple Ethereum hackathons, including ETH Waterloo, twice! Vadim is our product owner, highly experienced, and has been in crypto/blockchain since 2012. You can learn more about us on our website, or feel free to pop into our telegram group and say hi 🙂 https://t.me/clearpoolofficial

Tara Deina: Is your project only for limited users? What are your plans to attract other users globally who are also non-crypto investors around the globe?

Rob | Clearpool CEO

On the borrower side, it is, initially at least, limited to institutions. Our initial borrowers are mainly crypto institutions like Amber, Wintermute, Folkvang, etc. But we have had a lot of interest from hybrid institutions with both crypto and traditional presence and some purely traditional type borrowers. We have a team led by Jakob who is driving this adoption which will play out over the coming months. As I mentioned before, with the sophistication of our product, it is attracting more and more TradFi institutions.

On the lending side, it is open to anyone. This means that you get the same opportunities as an institutional lender, and by being an early CPOOL holder, you may even have a head start on getting the highest rewards available — stay tuned for our new staking model announcement coming soon!!

About Polygon

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.

Website | Twitter | Ecosystem Twitter | Developer Twitter | Enterprise Twitter | Studios Twitter | Telegram | Reddit | Discord | Instagram | Facebook | LinkedIn

About Clearpool

Clearpool is a Decentralized Capital Markets Ecosystem, where institutional borrowers can create single borrower liquidity pools and compete for uncollateralized liquidity directly from the DeFi ecosystem.

Liquidity providers on Clearpool can earn attractive yields, with pool interest rates enhanced by additional LP rewards paid in CPOOL — Clearpool’s utility and governance token.

Clearpool LP tokens, called cpTokens, are the building blocks for a system of tokenized credit that will provide Clearpool LPs with risk management and hedging capabilities. As more institutions begin to realize the benefits that decentralized finance can bring to their organizations, Clearpool will provide the new architecture to facilitate flows between the $120 trillion traditional capital markets and the burgeoning DeFi ecosystem.

Clearpool is backed by a long list of top investors from both traditional venture capital and blockchain, including Sequoia Capital India, Arrington Capital, Sino Global Capital, Hex Trust, Huobi Ventures, Kenetic, HashKey, and many more.

Website | Whitepaper | Telegram | Medium | Twitter | LinkedIn | YouTube

--

--

--

Clearpool is a decentralized capital markets ecosystem, where institutions can borrow uncollateralized liquidity. Visit us here: https://clearpool.finance/

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Behind the Startup · Olyseum Advisor Spotlight: Albert Castellana

AMA With Bitspawn|| Apr-28–2021

Bitcoin approached $37,000, and Guggenheim Partners believes that it can grow to $600,000

Top 5 Best upcoming NFT websites to promote your NFT free & paid

Nerve Staking platform is live now!

TokenPocket’s TPExchange: Why Create an Account?

The potential benefits of investing in exchange tokens

About Decentra Gallery

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Clearpool

Clearpool

Clearpool is a decentralized capital markets ecosystem, where institutions can borrow uncollateralized liquidity. Visit us here: https://clearpool.finance/

More from Medium

IQ Protocol Welcomes 3D Gamers Guild

Auros ​Partners with Clearpool to Become a Borrower on the Protocol

Introducing Our Community Strategist & DeCloud Superstar! | Sam

A Letter to OpenOcean Community & Investors