Audio from the August 30th, 2022 installment of “Polygon Alpha” with Robert Alcorn, the co-founder and CEO of Clearpool.
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Clearpool
- Clearpool is a decentralized marketplace for unsecured institutional capital.
- It allows institutions to borrow funds from a decentralized network of lenders without the need for collateral.
- On Clearpool, whitelisted institutional borrowers can create and launch individual single-borrower liquidity pools.
- Lenders can earn attractive risk-adjusted rates of interest for supplying liquidity to a borrower pool.
- Anybody can be a lender, and yields are enhanced with additional CPOOL rewards, making Clearpool one of the most attractive venues for DeFi lenders.
- Institutions interested in becoming borrowers can request to be whitelisted by contacting the Clearpool team.
- Complete the form on the Borrow page on the Clearpool App.
- Based on an initial assessment conducted by the core team, successful institutions will move on to the onboarding stage.
- Borrowers will be guided through an onboarding process consisting of the following steps:
1) KYC and AML – This process is conducted by Clearpool's partner - Credora
2) Legal Agreements – Borrowers (and lenders) must agree to the Clearpool Terms & Conditions
3) MPC Wallet – A supported multi-party computation wallet (MPC) is recommended (but not required) to borrow and repay liquidity
4) Credit Risk Assessment – A credit risk score and borrower capacity will be calculated by Credora (see Credit Risk Scoring for more information)
- Following the successful completion of this process, the final step is for the borrower to stake CPOOL in order for the pool to be launched.
- Borrower stake – Borrowers stake CPOOL before the pool is launched*
- Once a borrower has completed the onboarding process and paid the Borrower Fee, the liquidity pool will be launched by the Clearpool Governor multi-sig, and will become visible on the Lend page where it can be funded by lenders (see For Lenders section for more information).
- Currently, all pools are denominated in USDC. Other assets may be proposed and added via governance in the future.
Host: Justin Havins aka Crypto Texan
AV Engineer: Aaron Pettijohn
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Unsecured Institutional Lending in DeFi | Clearpool | Rob Alcorn | Polygon Alpha Podcast