Clearpool’s community has approved a governance proposal to expand the decentralized credit protocol to the XRP Ledger, with 97.16% of votes cast in favor. The plan also includes a 1:1 migration of the protocol’s native token, CPOOL, into a new XRPL-based token called CLEAR. The migration is expected to take place in the fourth quarter, with an initial circulating supply of 1.1 billion CLEAR.
Under the proposal, Clearpool will work with Ripple and Cicada Partners to offer working capital loans to fintech firms and payment processors. Those loan products will settle in Ripple USD (RLUSD), while XRP will be used only for network fees. The protocol also said half of its fees are set to be used for CLEAR buybacks and burns, though it stated that this structure does not directly create demand for XRP.
Clearpool said it has facilitated more than $930 million in loans since 2021, while Cicada has underwritten more than $860 million. The expansion is aimed at bringing institutional credit infrastructure to XRPL. Related technical proposals, XLS-65 and XLS-66, are still under revision.
Clearpool’s community has approved a governance proposal to expand the decentralized credit protocol to the XRP Ledger, with 97.16% support in the vote. The proposal also calls for a 1:1 migration of the native CPOOL token into a new XRPL-based token, CLEAR.
The migration is expected in the fourth quarter. Initial circulating supply for CLEAR is set at 1.1 billion tokens.
Partnership structure and loan design
Clearpool said it will work with Ripple and Cicada Partners to provide working capital loans for fintech companies and payment processors, among others. The loan product will settle in Ripple’s dollar-backed stablecoin RLUSD, while XRP will be used only to pay network fees.
The protocol said half of all fees are planned for CLEAR buybacks and burns. It also said that this mechanism does not directly create demand for XRP.
Track record and technical status
According to Clearpool, the protocol has facilitated more than $930 million in loans since 2021, while Cicada has underwritten more than $860 million. The expansion is intended to bring institutional credit infrastructure to XRPL.
Two related technical proposals, XLS-65 and XLS-66, are currently in the revision process.
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