What Is Clearpool (CPOOL)?

What Is Clearpool (CPOOL)? Complete Guide Review About Clearpool.

What Is Clearpool (CPOOL)?

Clearpool is Clear pool’s utility and governance token. CPOOL can be staked to earn attractive rewards and boost lending APR`s. Staking CPOOL is also a required action for borrowers. CPOOL is deflationary through a protocol buyback and burning mechanism. Eventually, CPOOL holders will have the ability to vote on the future direction of the protocol, and to whitelist new borrowers. Initially all pools will be denominated in USDC. Additional assets may be considered based on demand, and can be added via governance in the future. The credit risk score displayed on the Clear app is calculated by X-Margin, the specifics of the calculation can be found here.

Borrowers on Clearpool must be verified institutions. Borrowers have to pass a stringent KYC/AML process to verify their legitimacy before they can open a pool. You can learn more about each borrower by navigating to their pool page on the Clear pool app. Initially all pools will be denominated in USDC. Additional assets may be considered based on demand, and can be added via governance in the future. Interest rates will depend on the supply and demand of liquidity for each pool and the resulting liquidity utilization ratio of the pool’s borrower.

Clearpool Storage Key Points

Coin BasicInformation
Coin NameClearpool
Short NameCPOOL
Circulating Supply53,126,455.52 CPOOL
Total Supply1,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Earn Interest with Every Block

Earned interest is accumulated per block and automatically compounded. The process of closing a pool is simple, repay the borrowed amount plus interest, and proceed to close the pool. Please refer to the standard operating procedure PDF provided during on boarding. There is no notice period required for closing a pool. Pools can be closed at any time by making full repayment (borrowed amount + interest).

02Lend And Redeem At Any Time

Clearpool doesn’t hold custody of your funds. Deposit or redeem your balance at any time.*Subject to available liquidity. Pool size is dynamic, and driven by market supply and demand. When a borrower has a higher/lower utilization rate, the interest rate for the pool will increase/decrease, and theoretically attract/repel liquidity, allowing the borrower to continue the process until the optimum level of liquidity has been reached.

Pools can be closed at any time through the borrower making full repayment (borrowed amount + interest). However, lenders can still withdraw liquidity from a closed pool, the pool will still appear in the “My Positions” section of the “Earn” page when the corresponding lender wallet is connected.

03Earn Even More with CPOOL Rewards

Clearpool tokens are distributed to protocol contributors for lending and staking. When a liquidity pool hits 99% utilization, a provisional default is triggered. In the event of a provisional default the borrower will be given a grace period of 5 days to return the utilization rate to below 95%. The provisional default rate and grace period duration can be modified via governance in the future. If a pool remains above 95% utilization for the entire grace period, a default is triggered.

In the event of a default, an auction will ensue allowing participants to bid for the pool’s cpTokens (total debt of the pool). Please see Default for more information. When a liquidity pool hits 99% utilization, a provisional default is triggered. In the event of a provisional default the borrower will be given a grace period of 5 days to return the utilization rate to below 95%. The provisional default rate and grace period duration can be modified via governance in the future.

Earn CPOOL

Provide liquidity into borrowing pools and earn Clearpool token rewards on top of stable coin interest rate payments. The current CPOOL staking requirement is 500K CPOOL. This amount can be modified via governance in the future.The team is currently working on implementing a mechanism for dynamic staking based on utilization. If a pool remains above 95% utilization for the entire grace period, a default is triggered. In the event of a default, an auction will ensue allowing participants to bid for the pool’s cpTokens (total debt of the pool). Please see Default for more information.

At Clearpool this aim to maintain the highest level of cyber security, so the users of your protocol can enjoy a quality and worry free experience. To maintain this high quality, Clear has established an ongoing Bug Bounty Program. The Bug Bounty program is designed to encourage and reward those who discover and timely report any potential hacking angles, which can jeopardize security or user experience.