Clearpool Expands to XRP Ledger, Replaces CPOOL with NEW Token

Clearpool, a financial protocol, has proposed expanding its institutional lending products to the XRP Ledger (XRPL) and replacing its token CPOOL with CLEAR through a 1:1 migration. The expansion represents the protocol's 'next growth phase,' combining a move to XRPL with the replacement of CPOOL by CLEAR.

According to Clearpool, 70% of the initial allocation of CLEAR will fund a 1:1 migration for existing CPOOL holders. This means that current holders of CPOOL will receive an equal amount of CLEAR tokens in exchange for their holdings.

The expansion aims to tap into XRPL's institutional credit market, which is largely untapped. Clearpool plans to develop credit products that use the XRP Ledger to manage lending transactions and yield opportunities. The protocol will build on two proposed XRPL standards: Single Asset Vaults (XLS-65) and the Lending Protocol (XLS-66).

Ripple has committed capital to support yield products denominated in XRP and RLUSD, a stablecoin issued by Ripple's subsidiary Standard Custody & Trust Company. The commitment will provide additional resources for Clearpool to fund development, attract capital, and support adoption.