Clearpool launches uncollateralized stablecoin lending on Polygon

Quick Take

  • Clearpool has expanded its uncollaterized lending protocol to Polygon.
  • Polygon is the second blockchain for Clearpool after its Ethereum launch in March 2022.

Clearpool, an uncollateralized stablecoin lending protocol, has expanded to Polygon, according to an announcement on Thursday.

Clearpool provides uncollateralized USDC loans to institutions using decentralized liquidity pools. This integration will see the launch of pools where institutions can borrow USDC stablecoin from lenders on the Polygon network.

Polygon, a proof-of-stake sidechain that runs alongside Ethereum’s main network, is the second blockchain for Clearpool after its Ethereum launch in March 2022. Since the initial deployment on Ethereum, the firm claims to have generated over $180 million of institutional loans from borrowers like Jane Street, Amber, Auros, FBG Capital, Folkvang, and Wintermute. 

The team further announced lenders to its genesis liquidity pools Polygon will be rewarded with MATIC rewards, in addition to the USDC interest and liquidity rewards.

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