First Ever Uncollateralized Institutional Lending Marketplace Coming To Polygon

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The First Ever Uncollateralized Institutional Lending Protocol Is Coming To The Decentralized Marketplace On Polygon.

Clearpool, the first DeFi protocol for uncollateralized lending, is launching on Polygon.

The DeFi space is gaining steam, and the industry has seen a sharp increase in the number of lending protocols running on various blockchain networks over the last 2-3 years. However, the protocols available have been largely supportive of only collateralized lending. That changed when Clearpool came into the picture. Clearpool is a protocol that supports uncollateralized lending for institutional entities.

The good news now is that Clearpool is deploying on Polygon. Polygon is one of the fastest-growing blockchain networks that support DeFi protocols. The good news was announced by Polygon in a Twitter post.

 

What Clearpool Brings To Polygon

Clearpool made a debut on the Ethereum blockchain back in March 2022. The protocol has already facilitated the loan lending and repayment of over $180 million. It has also wooed some of the largest lending and borrowing (TradFi) institutions like Wintermute, Amber, Folkvang, FBG Capital, Auros, and Jane Street. It’s also backed by various financial investors, including Arrington Capital, Sino Global Capital, Sequoia Capital India, and Hashkey.

By deploying on Polygon, Clearpool utilizes the large user base while opening up the possibility of lenders to earn rewards in Matic. Matic is the native crypto on the Polygon network. As mentioned, the protocol has a ready following of some of the largest DeFi players in the industry, which it will bring to Polygon and help grow Polygon’s DeFi ecosystem.

For years, the DeFi industry has been plagued by low network speeds/ throughput and high transaction fees – especially on the Ethereum blockchain. These issues could very well be the main factors that have led Clearpool to ditch Ethereum for Polygon. For this reason, the Polygon network has grown exponentially over the last few months.

On Polygon, the protocol will leverage the high network throughput and reasonably low transaction fees. Just recently, Polygon launched the Zero Knowledge Ethereum Virtual Machine (zkEVM), which allows users to validate transactions without having to dig into details of their counterparts on the other network. 

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Source: https://thecryptobasic.com/2022/07/28/first-ever-uncollateralized-institutional-lending-marketplace-coming-to-polygon/?utm_source=rss&utm_medium=rss&utm_campaign=first-ever-uncollateralized-institutional-lending-marketplace-coming-to-polygon