Clearpool is a top decentralized capital market provider. It recently announced the launch of its first permissioned LP (liquidity pool) on its uncollateralized DeFi lending protocol. Furthermore, this move was in collaboration with Jane Street and BlockTower Capital. The former is a leading quantitative trading firm, while the latter is a crypto and blockchain investment firm.
The pool received initial funding of $25 million in USDC. However, there are plans to later grow the funds to $50 million depending on market conditions. Over the last few months, Clearpool has been making waves as a protocol for institutional borrowing and lending of digital assets. Clearpool receives backing from several global investors. This includes Arrington Capital, HashKey, Sino Global Capital, and Sequoia Capital India.
The DeFi world has constantly been in the crypto headlines. But things are set to take a step forward with the launch of this pool. It would mark the first time a top Wall Street establishment has used the DeFi protocol to conduct a borrowing transaction. As a result, this places Clearpool at the helm of this new DeFi revolution.
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Who are Jane Street and BlockTower?
Jane Street is a liquidity provider and quantitative trading firm. The platform has a strong team of over 1700 people. And offices in London, New York, Hong Kong, and Amsterdam. Also, Jane Street recently showed interest in unsecured crypto borrowing prospects on Clearpool. This allows organizations to borrow either through a decentralized community of lenders such as BlockTower or a marketplace.
Crypto Investment firm, BlockTower, has a strong presence in the DeFi world. In addition, the company is also the lender to this KYC/AML compliant “Permissioned Pool”. Such Pools allow borrowers with increased KYC needs to utilize Clearpool’s groundbreaking access to much-needed capital.
Furthermore, Clearpool’s presence in DeFi was strengthened when it released its core product; Permissionless Pools. These pools allow whitelisted institutional borrowers to vie for stablecoin liquidity from a decentralized network that features institutional and retail lenders. That’s without fully collateralizing or overcollateralizing.
Secure access and appealing yields lure lenders to the protocol. In addition, a reward mechanism boosts these features, which are paid in Clearpool’s native token, CPOOL. Clearpool further allows lenders to evaluate and balance risks. The platform has plans to roll out more user-friendly features in the coming months. So this collaboration is crucial for all parties.
It also brings Jane Street and BlockTower into Clearpool’s growing list of institutional lenders and borrowers. Traditional financial institutions seeking to enter DeFi need to engage with a KYC/AML compliant infrastructure. The collaboration acts as a reminder that DeFi is set to take a new leap.
Congrats to Huobi Ventures Portfolio @ClearpoolFin for their partnership with #JaneStreet and @BlockTower, bringing the first Wall Street Giant into the DeFi space!
please read the full story here https://t.co/0xCbk0Cv9Q
— Huobi Ventures (@HuobiVentures) May 5, 2022
Reactions to the Partnership
Reacting to the partnership, Robert Alcorn, CEO and co-founder of Clearpool, noted that Clearpool is out to meet the financial needs of institutions. He said, “Clearpool is building the architecture for the future financial markets. Major traditional financial institutions are beginning to pay more attention to DeFi, and the launch of this pool with Jane Street and BlockTower indicates that the migration has already begun.”
Thrilled to be working with @JaneStreetGroup and @BlockTower, the first of many institutions who will transact within a permissioned environment on #Clearpool as we continue to build and grow our ecosystem 💪🏻$CPOOL
— Robert Alcorn, CFA (@Rob8830) May 3, 2022
Ian McGuinn, Head of Crypto Business Development at Jane Street was thrilled by the partnership. He said “Firms like Clearpool are opening up new avenues for traditional firms to access financing in the crypto space.”
Also, Sanat Rao, General Partner at BlockTower noted that “Clearpool has built a high-quality institutional capital markets platform, and we are excited to partner with them and Jane Street to launch their first permissioned pool.”
About Jane Street & BlockTower
Jane Street is a global quantitative trading firm. The firm provides constant global liquidity in options, crypto, ETFs, commodities, and bonds. Jane Street’s approach provides fair rates and support for even the most complicated trading activity.
BlockTower is a crypto-focused institutional investment firm. The platform enables professional trading, risk management, and investing, as well as trading of digital assets. It also manages capital for renowned LPs such as Union Square Ventures and Howard Morgan.
About Clearpool
Clearpool is a leading decentralized capital market. It also allows institutional borrowers to form single-borrower liquidity pools. They then vie for collateral-free liquidity from a decentralized network of lenders. The platform offers liquidity providers the chance to earn high yields.
Their CPOOL token currently trades at $0.094 or 9.4 cents. The total supply is 1 billion and the circulating supply is 82.6 million giving the token a market value of $7.8 million, according to Coingecko.
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