Clearpool Public Testnet Launches December 27th
Following months of development, the Clearpool public testnet goes live Monday, December 27th, 2021, for the community and developers to use and experience before rolling out the Clearpool v1.0 mainnet in Q1 2022.
Keeping to the roadmap and maintaining the momentum of developments outlined in our monthly Executive Outlook, the rollout of Clearpool’s testnet next Monday marks a milestone for the team. It will allow future users, Clearpool supporters, and the wider DeFi community to better understand how Clearpool revolutionizes DeFi debt capital markets with tokenized credit.
The simple-to-use platform enables users to experience the power of DeFi, providing institutional borrowers with access to decentralized liquidity without the need for collateral while giving both retail and institutional investors market-leading yield opportunities. Users will be able to earn interest through staking CPOOL and lending USDC to institutional borrowers such as Amber, Wintermute, and Folkvang, amongst many others.
A Testnet How-To will be available on the launch day so that anyone can test the system. Additionally, a bug bounty will be available — details announced soon — for users and developers to earn CPOOL when they discover and report bugs in the system.
“We are delighted to be making this announcement today. The entire Clearpool team deserves a tremendous amount of credit for delivering this milestone on time. Clearpool has come a very long way in a very short space of time, this milestone marks the first of many to come for the protocol, and follows many other recent partnership announcements. It is a very exciting time for the team and community” — Robert Alcorn, CEO & Co-Founder, Clearpool
DeFi users are encouraged to experiment and familiarize themselves with the Clearpool platform ahead of the mainnet launch so they can be confident and prepared to take advantage of the lending offerings when we go live.
Clearpool’s testnet launch marks the first of several developments to come as we continue to progress building out a robust decentralized capital markets ecosystem.
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 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.