Clearpool v2 — Launch Date: 19th May 2022
Dear Poolsiders! 🏊♂️
Clearpool v2 is here! We never stop building at Clearpool and we are excited to be launching this upgrade which brings multiple benefits to the protocol and ecosystem.
This upgrade will enable Clearpool to enter the next phase of its journey and scale to new heights. Here’s what you need to know.
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 will be 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
IF YOU ARE CURRENTLY PROVIDING LIQUIDITY TO A V1 POOL, YOU WILL SOON NEED TO MIGRATE YOUR LIQUIDITY TO V2:
- On the 19th of May, new v2 pools will be launched for each of the current five permissionless borrowers
- At this time, borrowers will be repaying all liquidity to v1 pools
- At the same time, CPOOL rewards will stop accruing to v1 pools and start accruing only to v2 pools
- PLEASE REMOVE YOUR LIQUIDITY FROM V1 POOLS ON THE 19TH OF MAY, AND MIGRATE IT TO A V2 POOL TO CONTINUE RECEIVING INTEREST + REWARDS
- If you are not available to migrate liquidity on the 19th don't worry, the v1 pools withdraw function will remain available, but we do urge you to migrate ASAP in order to keep accruing interest & rewards
Following this one-time-only migration event, Clearpool will continue the rollout of new permissionless pools, giving lenders more options and the ability to further diversify across a number of different pools.
The launch of Clearpool on Polygon will mark the completion of the first step in our vision for Clearpool to be a multi-chain protocol and will give lenders of all sizes the ability to economically deploy capital to Clearpool borrower pools and take advantage of the high stablecoin yields available.
Later on in Q3, we will launch new enhanced interest rate curves which will improve pool optimization and APRs. Also in Q3, we will launch the much-anticipated CPOOL staking model which will bring with it additional utility for the CPOOL token. Following the launch of staking, the Clearpool treasury will begin regular CPOOL buybacks.
Whilst all of this is going on, we continue to build more product features and enhancements, and grow our expanding ecosystem both within the DeFi and TradFi universes. We will provide further updates on this as we progress.
We understand that the market environment has been tough for everyone recently, but Clearpool fundamentally is in a very good place, and we remain on track to achieve all of our goals. We appreciate your support and patience as we continue to build the future of financial markets.
Onwards & upwards!
The Clearpool Team