Clearpool expands lending on Polygon zkEVM

The crypto-lending protocol Clearpool announced the integration of a zero-knowledge proofs-based scaling solution for Ethereum — Polygon zkEVM.

“This step is key for the protocol, adding another building block to the developing Clearpool ecosystem,” said Robert Alcorn, head of the trading platform.

According to project representatives, the expansion offers high throughput, improved security, and reduced gas fees.

Market makers Fasanara and Portofino have already opened their lending pools on Polygon zkEVM.

Clearpool also works with the decentralized yield-automation protocol Idle to create DeFi primitives atop zkEVM, enabling “segmentation of yield and risk”.

Liquidity providers will be able to choose between “senior” and “junior” yield tranches and lend digital assets according to their risk or reward level, the developers explained.

Launched in March 2022, Clearpool has lent more than $400 million. The project team noted that it works with many traditional institutions, including Wintermute, Jane Street, Fasanara Capital, CoinShares and others.

The beta version of the Polygon zkEVM mainnet began operating in March 2023, and the first transaction was made by Vitalik Buterin. The protocol is equivalent to the Ethereum Virtual Machine — the Ethereum virtual machine, i.e., it supports mainnet code and allows developers to use existing tools and infrastructure.

In February, Clearpool launched on Polygon a platform aimed at institutional investors.