AMA Recap: TOP 7 ICO x Clearpool — English Edition
Today’s AMA took place in the TOP 7 ICO telegram chat. There were almost two thousand channel members with many questions.
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Top 7 ICO Official Chat
9 727 members, 2 038 online Official Chat of https://t.me/top7ico Twitter: https://twitter.com/top7ico Сontact…
A few tweets promoting the event before we dive into the recap:
The Top 7 ICO AMA Begins…
Top 7 ICO: Introduce yourself briefly to our community.
Rob: Sure, I am Robert Alcorn, Co-Founder and CEO of Clearpool. My background is in entrepreneurship and traditional financial markets, where I spent the last 12 years working mainly in credit markets as a broker, salesperson, and most recently as a collateral trader. I have been involved in crypto since 2015 when I was researching blockchain for an automated wealth management project that I was working on. I first bought bitcoin in 2016 and have been trading crypto ever since. I am from the UK, but I have also lived and worked in the US, The Middle East, Hong Kong & Singapore.
Clearpool was founded by myself and my friend and ex-colleague, Alessio Quaglini, the CEO of HEX Trust. We used to work together at a bank, and we shared an interest in blockchain and crypto. The idea came up in a conversation earlier this year. We realized we had something good, so I left my job as a trader and started building Clearpool. I recruited Jakob, our CCO, very early on, and he became part of our founding team. Jakob’s background is in start-ups and fintech, and he brings a lot of expertise to our team.
Our CTO Pavel and his team of developers are highly experienced blockchain developers, having worked on multiple Ethereum and DeFi projects previously, and also winners at several Ethereum hackathons such as ETH Waterloo. Vadim is our product owner; he is also very experienced in blockchain and crypto. We have some great advisors with whom we work closely, including Alessio, who I mentioned earlier, and some of his senior team members at Hex Trust.
Top 7 ICO: What are the Top 7 Key Highlights about Clearpool?
Rob: I’ll do my best!
Top 7 ICO: Just tell about the most major points about your project. Briefly, or not — totally up to you 👌
Rob: Ok, got it
1. We recently closed an oversubscribed funding round of US$3 million that included well-known VCs such as Arrington XRP Capital, GBV Capital, HashKey Capital, Huobi Ventures, Sequoia Capital India, Sino Global Capital, Wintermute, and many more!
2. Clearpool introduces some concepts that significantly improve upon the decades-old architecture that underpins traditional capital markets. It allows institutional borrowers to attract liquidity directly from investors without the need for any central intermediaries and therefore removes multiple layers of friction, time, and costs for both sides
3. Clearpool has partnered with Hex Trust, Asia’s leading digital asset custodian. Hex will be providing custody and transaction monitoring services to Clearpool and its users. Hex is licensed and regulated in Hong Kong and Singapore, so they bring a great deal of expertise regarding regulatory and compliance policies. Along with Hex, Clearpool has developed a proof of identity and KYC system, which allows us to verify the identity and KYC status of our borrowers.
4. CPOOL is an ERC-20 token. It is the governance and utility token for the Clearpool protocol. CPOOL holders can earn attractive rewards for voting to whitelist new borrowers and eventually propose, vote, and implement changes to the protocol through governance. There will also be pre-staking and liquidity mining with attractive rewards before our mainnet launch, so keep an eye out for an announcement soon!
5. We have just announced that CPOOL will be launched on the DAO Maker launchpad with registration opening next Tuesday, the 26th. DEX and CEX listing announcements coming soon ;)
6. Clearpool allows retail investors to participate in opportunities that in TradFi are typically only available to institutions or HNWIs. The institutional borrowers on Clearpool, such as very successful hedge funds and trading companies, generate huge returns and therefore can pay higher rates of interest for unsecured liquidity. LPs on Clearpool, therefore, get to participate in the success of these firms’ strategies by lending to them and receiving the higher rates of interest, which are significantly enhanced with additional rewards paid in CPOOL!
7. Clearpool introduces the concept of single borrower liquidity pools. This means that LPs get to decide exactly which type of borrowers they want to lend to. They can take on more or less risk and be rewarded accordingly. And they still have the option to supply liquidity across multiple pools for diversification. It is this concept that allows us to introduce the idea of tokenized credit. The cpTokens that you receive when you supply liquidity to a pool represent the amount of liquidity supplied, accrue the interest for the pool, but also represent the risk profile of the pool borrower.
Telegram Community Questions
From Erica: According to my research, many platforms have multiple borrower pools, but the Clearpool has Introduced the single borrower liquidity pool. Can you brief me more about this and what benefits the users get from the single borrower liquidity pool?
Clearpool has been designed to benefit both borrowers and lenders. To solve the problem of overcollateralization, counterparty risk is introduced. Other similar projects have multiple borrower pools — large pools of liquidity with many different borrowers, each with their own risk profile. As an LP, when you supply liquidity to these pools, you get a generic/blended exposure to all of these different borrowers and virtually no way to manage this risk. This is not so good for you — the LPs.
Clearpool introduces the concept of single borrower liquidity pools. This means that LPs get to decide exactly which type of borrowers they want to lend to. They can take on more or less risk and be rewarded accordingly. And they still have the option to supply liquidity across multiple pools for diversification through our Thematic Pools, another innovation from Clearpool. It is these concepts that allow us to introduce the idea of tokenized credit. The cpTokens that you receive when you supply liquidity to a pool represent the amount of liquidity supplied, accrue the interest for the pool, but also represent the risk profile of the pool borrower.
This is important because it allows for the further innovation of risk management and hedging solutions. This is good for you, the LPs, and it will also attract new lender profiles from TradFi to DeFi, which will allow us to grow our protocol on a massive scale, which also benefits the CPOOL holding community in the long run.
One area which is very important for Clearpool is regulatory compliance. Clearpool has been built with this in mind. Clearpool has a very long-term vision, and achieving this successfully is only possible if you do everything right from the start, which includes taking the importance of regulation, KYC, and AML into consideration. We are in it for the long run!
Related Post: Clearpool Investor Landscape
From Ble73:Can you briefly share your tokenomics and what will be the benefits of token holders? Can one really make money here?
CPOOL is the utility and governance token for the Clearpool protocol. CPOOL holders will vote on the whitelisting of new borrowers, a process that will qualify participants to earn additional CPOOL through an incentive reward scheme.
Eventually, a full decentralized governance system will be introduced, allowing CPOOL holders to propose, vote, and implement future changes and upgrades to the protocol.
Pre-staking will be available after the CPOOL launch. A new staking program will be announced before the mainnet launch of the Clearpool v1.0 protocol. CPOOL staking will be a required action for borrowers, who must stake an amount of CPOOL to access the area of the protocol where they can make a proposal to be whitelisted.
Liquidity providers earn additional CPOOL rewards, enhancing pool interest rates to attractive levels. Clearpool will announce a buyback program, where a share of protocol revenue will be used to buy CPOOL in the open market to sustain reward pools perpetually.
More information on CPOOL and tokenomics can be found on our website: www.clearpool.finance
From Tommy: How can institutions benefit from Clearpool’s services? What risk management solution do you provide to Liquidity Providers (LPs)?
Borrowing on Clearpool is only available for institutions, who first have to be whitelisted by making a proposal to the CPOOL community, who will subsequently reach a consensus decision through governance voting.
Clearpool has already identified and partnered with many high-profile institutional borrowers — to be officially announced soon, who will open the initial liquidity pools on Clearpool. All the initial borrowers have very solid balance sheets, and most of them are conducting market risk-neutral strategies.
Anybody can be a liquidity provider on Clearpool, from individual DeFi users to large-scale financial institutions — it is permissionless for LPs.
Clearpool allows retail investors to participate in some types of investment opportunities that in TradFi are typically only available to institutions or HNWIs. The institutional borrowers on Clearpool, such as very successful hedge funds and trading companies, generate huge returns and, therefore, pay higher interest rates for unsecured liquidity. LPs on Clearpool, therefore, get to participate in the success of these firms’ strategies by lending to them and receiving higher rates of interest.
Additional bonus rewards paid in the native CPOOL token will boost overall APYs to very attractive levels, especially for long-term holders and stakers. This will make Clearpool one of the most attractive venues in DeFi for lenders and investors.
Related Post: Meet Clearpool’s CTO, Pavel Ivanov
From Pradeep: How important is the Clearpool community to the Clearpool project? What is the role of the community in Clearpool? Why did you choose the name Clearpool to represent this project? How does the project agreement work?
Very important! Individual users can all take part in the opportunities that Clearpool provides to LPs. There are also multiple opportunities for individual CPOOL holders to interact with the protocol and earn rewards, whitelist voting, and staking, for example.
We have a very long-term vision and high targets. We believe that Clearpool will be very well positioned to attract flows from the $120 trillion traditional capital markets. We aim to be the primary location for the origination of on-chain debt globally.
Holding CPOOL for the long term will be the best option, as long-term hodlers will have access to the highest benefits and rewards.
Immediately after our token launch, we will also launch a pre-staking program where you can accumulate more CPOOL leading up to our mainnet launch. We will announce more details about this soon!
From Solo: Can you tell us about your future collaborative projects? What type of project would be more compatible with ClearPool?
We have a very exciting announcement in the works with a project that is the market leader in their specific field of on-chain analytics. This partnership will benefit our users, as well as contribute to the robustness of the Clearpool protocol. We will announce it soon.
We are also in discussions with several other projects, so more partnerships and collaborations will come. Stay tuned.
From Web3Trend: What is the biggest business scaling problem you believe your project could face in the future, and how will you try to solve it?
The biggest scaling problem for projects similar to Clearpool that have proceeded us is attracting liquidity. There is a significant amount of liquidity already in the DeFi ecosystem, but there is also a lot of competition. Projects will have to attract liquidity from TradFi to scale, and this is where Clearpool has a huge advantage.
Many TradFi players are starting to look at DeFi. For them to realistically participate in DeFi, they will need to see sophistication in terms of product offering and regulatory compliance at the AML/KYC level, at the very least.
Projects like Clearpool, which address these two things, will be first in line to attract the inevitable flows from TradFi into DeFi.
Clearpool introduces various innovations that will be attractive to TradFi players: dynamic interest rate pools, single-borrower pools and tokenization of credit, thematic pools for diversifications, and risk management/hedging solutions.
Clearpool also introduces a system whereby borrowers must first prove their identity and KYC status through a governance-approved digital asset custodian partner and then become whitelisted through governance voting.
These things will put Clearpool on the front-line of the new architecture that facilitates flows between the $120 trillion traditional capital markets and the burgeoning DeFi ecosystem.
From Murthy Rajpaksha: In terms of Security, What work has been or planned from the following? 1- Have You gone through any Audits yet? 2- Have You Partnered with 3rd party Security Companies? 3- Do You plan to bring big bounty programs for the community?
Yes, our token and vesting contracts have been audited, and we have appointed a top company to audit the contracts for the rest of the protocol; this is ongoing now, and we will, of course, make audits public when they are ready.
Security of user assets is the team’s top priority and always will be.
Clearpool has also partnered with Hex Trust, Asia’s leading digital asset custodian. Hex will be providing custody and transaction monitoring services to Clearpool and its users. Hex is licensed and regulated in Hong Kong and Singapore, so they bring a great deal of expertise; they are the custody experts.
A bug bounty program will definitely be introduced, and we will announce it, so keep an eye on our channels as incentives and rewards will be available.
Related Post: Meet Clearpool’s CCO and Co-Founder, Jakob Kronbichler
From Furiosa III Chan: How do you incentivize those who want to have a CPOOL in Clearpool and provide liquidity to the platform? How to encourage liquidity providers for sustainable liquidity?
LPs can earn attractive rates of interest on Clearpool for supplying liquidity to a borrower pool. Pool APYs are enhanced with additional CPOOL rewards, making Clearpool one of the most attractive venues for DeFi lenders.
There are also rewards for staking, and users who stake for longer will get significantly higher rewards and opportunities on Clearpool.
From Face: Well, from what I read on today’s AMA, Clearpool is really a great project. May I know, how are the way if I want to purchase a Clearpool token? Any info regarding presale or public sale of your token?
We just announced the dates for our launch on DAO Maker, and it opens on the 26th of October; please go to their website for further details on how to participate; there is also more info on our social channels.
Following that, CPOOL will be available on DEX and CEX, and we will announce these venues soon.
Keep an eye on our social channels!
Top 7 ICO: Great AMA! Thanks for joining us today
Rob: It’s been my pleasure!
Also, enter our giveaway! Win some ETH and $CPOOL https://eth.clearpool.win/
Thanks for having me, guys!
Follow me on Twitter @rob8830 👍🏻
Clearpool is a decentralized capital markets ecosystem where institutions can borrow uncollateralized liquidity, and LPs get attractive rewards and risk management solutions. Clearpool introduces several new concepts to DeFi, with the idea of single borrower liquidity pools and tokenized credit giving rise to sophisticated risk management and hedging solutions. Clearpool is revolutionizing debt capital markets; a paradigm shift in how institutions borrow uncollateralized liquidity is upon us.