Clearpool expands DeFi lending marketplace to Polygon zkEVM

Decentralized lending marketplace Clearpool has expanded to Polygon zkEVM — a zero-knowledge scaling solution compatible with Ethereum applications. 

The expansion is designed to offer users high-speed transactions, increased funding diversification and greater capital efficiency as part of Clearpool’s multichain protocol goals.

"This integration is a key step for the protocol by adding another building block to Clearpool’s expanding ecosystem,” Clearpool co-founder and CEO Robert Alcorn said in a statement. “Since its inception, Clearpool was designed to be a multichain protocol that is cost-effective, seamless and scalable to provide value, efficiency and accessibility.”

Market makers Fasanara and Portofino have opened two permissionless lending pools on the Polygon zkEVM Layer 2, extending Clearpool's reach to its third blockchain solution alongside the Ethereum mainnet and Polygon PoS.

“The integration strengthens the DeFi landscape on Polygon and reinforces our commitment to providing diverse financial solutions,” Polygon Labs head of DeFi business development Jack Melnick added.

Clearpool is also working with the decentralized yield automation protocol Idle to build DeFi primitives on top of the zkEVM pools to offer different risk-return profiles.

Polygon zkEVM

Scaling project Polygon released its zero-knowledge-based rollup network in March after a year of development, attracting projects like Lens and Aavegotchi. Ethereum co-founder Vitalik Buterin made the first symbolic transaction on the network.

Polygon zkEVM provides full EVM opcode compatibility — meaning developers and users can utilize the same code, tools and applications as on Ethereum. ZK-rollups work by aggregating multiple transactions off-chain into a single batch, which is then submitted to the main chain as a single transaction. Zero-knowledge proofs verify the transactions without revealing data, resulting in lower fees and enhanced security. 

As a major focus of Ethereum scaling development, blockchain projects, including Polygon, Starknet, ZkSync and Scroll, have been competing to develop a functional ZK-based Layer 2 solution capable of natively supporting Ethereum applications.

In June, the Polygon team revealed plans for Polygon 2.0 — a network of zero-knowledge-powered Layer 2 blockchains. Earlier this month, it also proposed upgrading its native MATIC token to POL as part of the Polygon 2.0 roadmap.