Clearpool is pleased to announce the expansion of its leading decentralized lending marketplace to Polygon’s zkEVM solution, providing users with high-speed transactions, increased diversification and greater capital efficiency.
Two permissionless lending pools, opened by market makers Fasanara and Portofino, Clearpool’s borrowers since March 2023, are now available on Polygon zkEVM Layer 2. This marks the third blockchain solution integrated with Clearpool’s marketplace, alongside Ethereum mainnet and Polygon PoS.
“This integration is a key step for the protocol by adding another building block to Clearpool’s expanding ecosystem,” said Robert Alcorn, CEO and co-founder of Clearpool. “Since its inception, Clearpool was designed to be a multichain protocol that is cost-effective, seamless, and scalable to provide value, efficiency and accessibility for millions of users. We continue to deliver on that strategy and vision.”
“We are excited to see Clearpool’s further growth into the Polygon ecosystem,” said Jack Melnick, Polygon’s Head of DeFi BD. “The integration strengthens the DeFi landscape on Polygon and reinforces our commitment to providing diverse financial solutions for the growing community.”
In collaboration with Idle, a decentralized yield automation protocol and Clearpool’s Oracle since January 2023, Clearpool’s zkEVM ecosystem is enriched with Idle Yield Tranches (YTs). Built on top of the zkEVM pools, these innovative DeFi primitives allow segmentation of yields and risks, catering to a diverse range of users by offering two risk-return profiles, Senior and Junior. Liquidity providers can choose between Senior and Junior Yield Tranches and lend digital assets based on their preferred risk/reward level. Junior tranches provide boosted returns in exchange for the coverage offered to the Senior tranches, coming with lower APR and the protection of funds.
Polygon zkEVM: Unleashing Full EVM Compatibility
The latest integration with Polygon’s zkEVM will result in higher throughput, increased security and censorship resistance, as well as lower gas fees, supporting wider protocol adoption among the expanded network of lenders. Borrowers on the Clearpool platform will also benefit from it due to increased funding diversification and greater efficiencies across the entire ecosystem.
Polygon zkEVM provides full EVM (Ethereum Virtual Machine) opcode compatibility, allowing developers and users to seamlessly utilize the same code, tools, and applications as Ethereum while minimizing friction. Zero-knowledge proof (ZKP) verifies transactions without revealing data, and transactions are batched and relayed to the Ethereum network as one bulk transaction, resulting in lower fees for participants. ZKPs reduce transaction costs, increase throughput, and maintain Ethereum compatibility, ensuring enhanced security.
With the addition of Polygon zkEVM, Clearpool continues its multichain growth strategy, leveraging the strengths of different blockchain technologies. The launch marks an important milestone in the protocol’s journey, solidifying its position as a leader in the decentralized lending space.