Clearpool has submitted a governance proposal to expand its institutional lending protocol to the XRP Ledger (XRPL) network. The cross-chain expansion plan comes with a requirement for users: migrating from the existing CPOOL token to a new token dubbed CLEAR. The proposal establishes a 1:1 exchange ratio for all asset holders recorded in the ecosystem.
The token transition goes hand in hand with a recapitalization agenda for the protocol’s treasury. The yield flow for liquidity providers now hinges on the outcome of the community vote. If the proposal is approved by a majority, liquidity incentives that have been distributed in CPOOL for years will fully transition to the replacement token CLEAR.
Two Technical Standards Form the Backbone
Clearpool’s institutional-grade credit infrastructure will be built directly on the XRPL ledger using two new technical standards. The first standard is Single Asset Vaults, or the XLS-65 specification. This vault framework enables pooling capital from multiple institutional participants under centralized asset management rules.
Its companion standard is the Lending Protocol, designated as XLS-66. This second-layer standard taps liquidity from XLS-65 vaults to facilitate advanced transactions. The accumulated funds are then used to originate, service, and settle fixed-term loans.
The draw-down mechanism bridges on-chain and off-chain operations. While debt issuance is fully recorded on the blockchain ledger, risk and creditworthiness assessments for prospective borrowers are executed off-chain to maintain institutional privacy.
Green Light Awaits Network Amendment
A unanimous vote from the Clearpool community is not enough to launch protocol functionality on the mainnet. Deploying the lending infrastructure on mainnet remains pending as voting on core XRPL network amendments is still underway. XRP Ledger validators must reach consensus to enact the specifications before capital flows can begin.
The cross-asset deployment follows broader credit fund initiatives. According to developer roadmaps, the new credit infrastructure will rely on the RLUSD stablecoin to underpin borrower liquidity.
Reported by crypto.news.
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