Clearpool Ditches Ethereum for XRP Ledger, Launches Deflationary Token CLEAR
Clearpool, a decentralized credit protocol built on Ethereum, is making a significant move to the XRP Ledger (XRPL). The platform has announced that it will migrate its entire core infrastructure to XRPL and launch a new token called CLEAR. This shift aims to overcome growth limitations associated with the Ethereum network and tap into untapped institutional capital within the XRPL ecosystem.
The migration is coupled with the launch of an institutional credit fund, in partnership with Cicada Partners, designed to finance fintech and payment companies. The fund will utilize RLUSD, Ripple's newly launched regulated U.S. dollar stablecoin, for all settlements and payouts.
Clearpool's original governance token, CPOOL, debuted in 2021 but is now facing distribution exhaustion with 99% of its supply already released. In contrast, the new CLEAR token will implement a strictly deflationary model, where half of all protocol fees from lending products will be used to buy back and permanently burn the token, while the other half will reward active stakers.