Clearpool, the well-known DeFi credit platform, has announced a unique product launch. As per Clearpool, it is introducing Credit Vaults on the Ethereum-based L2 blockchain Base to permit institutional users to access
DeFi
credit. The platform revealed development on its official social media account.
Clearpool launches on
@base
— enabling institutional access to
#DeFi
credit via Credit Vaults!
Portofino Technologies, a crypto-native HFT market-making institution, pioneers the inaugural Credit Vault on
#Base
.
1/5
pic.twitter.com/wA6YF0pClw
— Clearpool (@ClearpoolFin)
July 2, 2024
Clearpool Starts Its Operations on Base to Increase DeFi Access for Institutions
Apart from this announcement on X, Clearpool also published a blog post on Medium, providing insights into the new project. Portofino Technologies reportedly pioneered the initial Credit Vault. The company operates as an HFT market-making platform that utilizes its advanced technology. With this, it minimizes the frictions concerning the selling and purchasing of digital assets throughout
OTC
markets and exchanges.
Base works as a permissionless and open
Ethereum
L2. It provides scalability, stability, and security that drives on-chain apps with matchless integration capabilities enabling fiat onramps. Additionally, with Credit Vaults, borrowers can set unique parameters. They take into account KYC requirements, repayment schedules, and interest rates. This gives them more customization options and significant control.
The Endeavor Incentivizes the Borrowers in Several Ways
Credit Vaults optimize efficiency and give incentives to lenders having greater interest rates. In this way, they attract the latest participants. Their flexibility assists different types of borrowers and leads toward secured credit projects. It also allows entities to become a part of the Clearpool ecosystem.
Clearpool
has reportedly originated loans of $530M worth. Interestingly twenty-one firms have joined Clearpool in the pursuit of releasing borrower pools.