Clearpool Expands Institutional Lending Framework on XRP Ledger
- Clearpool is migrating its CPOOL token to a new token called CLEAR, with a proposed allocation of a 1:1 exchange for existing holders.
- The total supply of CLEAR will increase from 1 billion to approximately 1.125 billion at migration, with plans to reach around 1.428 billion in three years.
- Clearpool aims to leverage the XRP Ledger’s (XRPL) institutional-grade credit rails, specifically the Single Asset Vaults (XLS-65) and Lending Protocol (XLS-66).
- Ripple has committed investment to support Clearpool’s yield products using XRP and RLUSD as collateral.
- A community governance vote will take place over the next two weeks regarding the migration and expansion proposal.
Clearpool’s integration into the XRPL represents a significant move towards tapping into the largely unexploited institutional credit market, enhancing lending infrastructure on a proven network.
With Ripple’s backing and a strategic focus on institutional-grade lending, Clearpool is set to transform its ecosystem while facilitating a seamless transition from CPOOL to CLEAR tokens. (Source)
