DeFi lending marketplace Clearpool will launch on Optimism’s OP mainnet after securing 150,000 OP tokens, worth approximately $202,000, from the Optimism Foundation.
Clearpool is designed to let institutional borrowers create single-borrower liquidity pools and compete for non-collateral liquidity from a network of decentralized lenders.
Lenders can use the supported wallet infrastructure to lend to whitelisted institutions and earn rewards without having to lock their cryptocurrencies.
Clearpool is currently deployed on Ethereum, Polygon and Polygon zkEVM. It has a total value (TVL) of $3.1 million and a market capital of $7.52 million, according to information available on DeFiLlama.
Read more: Clearpool expands uncollateralized lending marketplace to Polygon
The protocol will also work with Idle Finance, a yield automation protocol that has also received OP 150,000 in grant funding to enable Yield Tranches (YTs) on OP mainnet.
YTs are capital pools designed to mitigate risk. They generate tranche returns through various market-neutral return strategies, enabling the segmentation of risks and returns.
Matteo Pandolfini, founder of Idle, said this latest launch aims to advance the on-chain DeFi lending market while creating new standards in risk diversification.
“Users have the ability to tailor their DeFi strategies to their risk tolerance, allowing them to build a return portfolio that matches their financial goals and ambitions,” Pandolfi said in a statement.