Integrating Clearpool with OKX Web3: Expanding Lending Options for 400k Web3 Users on OKX

[PRESS RELEASE – Singapore, Singapore, November 30th, 2023]

OKX’s Web3 Wallet has announced its integration with Clearpool, providing OKX Web3 users with the opportunity to lend directly to institutions through Clearpool’s credit protocol. This collaboration expands the lending options for OKX Web3 Wallet users and increases the potential user base for Clearpool.

Introducing OKX Web3

OKX is a leading Web3 technology company and the world’s second-largest crypto exchange by trading volume. The OKX Web3 ecosystem includes the versatile OKX Wallet, which allows users to hold their private keys and provides access to various decentralized exchanges (DEXs), DeFi yield services, NFT marketplaces, and now Clearpool.

“Clearpool is incredibly excited and honored to have been selected by OKX Web3 to integrate with their DeFi Wallet — a testament to the growing credibility and trust the protocol has gained. This partnership unlocks a significant expansion of Clearpool’s potential user base as it taps into the vast and growing global ecosystem of OKX Web3. We look forward to continuing further collaboration with OKX Web3 and exploring future possibilities,” commented Jakob Kronbichler, CEO & co-founder of Clearpool.

Unlocking Access to OKX Web3’s ecosystem

The integration with Clearpool allows OKX Web3 users to access permissionless borrower pools for direct lending to whitelisted institutions using OKX DeFi. This strategic partnership offers users the opportunity to earn dynamic and risk-adjusted returns that compound with each block without any lock-up periods on Clearpool. Lenders will also receive rewards in $OP (Optimism’s native token) granted by the Optimism Foundation, which will be used to bootstrap the borrower pools on the Clearpool Optimism Market.

About Clearpool

Clearpool is a leading DeFi credit marketplace that enables institutions to raise unsecured liquidity directly from DeFi markets. The protocol also offers a separate platform, Clearpool Prime, to meet compliance needs for borrowing and lending digital assets by institutional market participants. Liquidity providers on Clearpool earn attractive yields and additional rewards in $CPOOL, the protocol’s utility and governance token. Clearpool LP tokens, known as cpTokens, are used for tokenized credit and on-chain risk management.

Since its launch in March 2022, Clearpool has originated over US$440 million in loans and has attracted a growing user base from both crypto and traditional finance institutions. The protocol has expanded to various networks including Ethereum, Polygon PoS, Polygon zkEVM, and now Optimism.

Hot Take: OKX Web3 Wallet Integrates with Clearpool, Expanding Lending Opportunities

OKX’s integration with Clearpool is a significant development for OKX Web3 Wallet users. By partnering with Clearpool’s credit protocol, OKX Web3 users can now lend directly to institutions, accessing risk-adjusted lending opportunities and expanding the growth of OKX’s dynamic Web3 ecosystem. This collaboration also benefits Clearpool by increasing its potential user base. With this integration, OKX Web3 continues to enhance its offerings and provide users with access to a wide range of decentralized exchanges, DeFi services, and now lending through Clearpool. The future looks promising for both OKX Web3 and Clearpool as they explore further possibilities together.