What Is Clearpool Finance? – Wealth Mastery
This week’s Wealth Mastery Altcoin Review will discuss “What is Clearpool Finance?”
- What Is Clearpool Finance (CPOOL)?
- How Do You Use Clearpool Finance?
- What Is CPOOL Token?
- How Do I Buy Clearpool Finance?
- Does Clearpool Finance Have A future?
What Is Clearpool Finance?
Simply put, Clearpool Finance is an uncollateralized lending service that provides unsecured loans for institutions. Clearpool launched on the Ethereum mainnet in March and on Polygon in July. Clearpool Finance was the first marketplace available where trading firms could borrow without significant collateral. Since then, several other products have been released in the market, with nothing incredible separating one from the other. These permissioned pools are available to accredited institutions to borrow funds from any user that’s willing to loan it to them.
Clearpool Finance recently appeared in the news regarding Alameda Research’s scam. This is because Alameda Research had created millions of dollars in unsecured loans on Clearpool Finance before its bankruptcy. Compound Capital Partners and Apollo Capital loaned Alameda USDC from their investment pools. The pools were eventually closed when Chapter 11 was filed for FTX and Alameda Research—giving Alameda millions in free capital. Multiple other pools began defaulting with uncertainty around the degree to which Clearpool could be exposed to Alameda Research. But this had nothing to do with Clearpool, the protocol simply operates as a middleman between institutions who want to loan and those who want to borrow.
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