Clearpool Adopts Polygon zkEVM for Faster Transactions and Enhanced Liquidity Options
Clearpool has taken a significant step towards becoming a multichain protocol with faster transactions by integrating Polygon zkEVM, a zero-knowledge scaling solution, into its platform.
The newly implemented integration allows Clearpool to efficiently segment yields and risks, catering to a diverse range of users with the provision of two distinct risk-return profiles: Senior and Junior. While Junior tranches offer higher returns in exchange for LP coverage, Senior tranches provide relatively lower returns.
Liquidity providers (LPs) on Clearpool’s platform now have the flexibility to choose between Senior and Junior Yield Tranches for lending based on their risk preferences, directly from the user-friendly dashboard.
Robert Alcorn, co-founder and CEO of Clearpool, stated that this integration represents a crucial milestone for the protocol, as it adds another fundamental building block to Clearpool’s expanding ecosystem. He further emphasized that Clearpool was designed to be a cost-effective, seamless, and scalable multichain protocol, aiming to deliver value, efficiency, and accessibility to its users.
Jack Melnick, Head of DeFi business development at Polygon Labs, expressed his enthusiasm, stating, “The integration strengthens the DeFi landscape on Polygon and reinforces our commitment to offering a variety of financial solutions.”
By incorporating Polygon zkEVM as a third access option, alongside the Ethereum mainnet and Polygon PoS, Clearpool significantly broadens its scope, thereby ensuring wider participation and increased accessibility for users.
Polygon zkEVM, which was launched in March 2023, has already garnered significant attention from startups like Lens and Aavegotchi. Notably, Vitalik Buterin, a co-founder of Ethereum, performed the network’s inaugural symbolic transaction, highlighting the industry’s endorsement of Polygon’s technological advancements.
Polygon zkEVM offers full EVM opcode compatibility, enabling users and developers to utilize the same scripts, tools, and programs as on Ethereum. zK-rollups scale blockchain networks by combining multiple off-chain transactions into a single batch, which is then sent to the main chain as a single transaction.
The innovative utilization of zero-knowledge proofs to validate transactions without revealing data results in reduced costs and heightened security, making it a compelling scaling solution for Clearpool’s ambitious multichain protocol.