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Institutional decentralized lending protocol Clearpool has unveiled a governance proposal to migrate its credit infrastructure to the XRP Ledger, Crypto Briefing reported.
If approved, the plan would involve a large-scale migration of the full protocol from its existing infrastructure. Under the proposal, existing CPOOL tokens would be exchanged for new CLEAR tokens on a one-to-one basis. CLEAR would have an initial total supply of 1.125 billion tokens, with the long-term supply set to expand to as many as 1.428 billion tokens. Existing CPOOL holders would be allocated 70% of the total supply.
Ripple would also join a new credit fund as an LP, and the fund plans to provide loans to fintech companies through RLUSD-based institutional lending products. Cicada Partners would handle credit risk assessments and borrower sourcing. Clearpool said it plans to use 50% of protocol fees for open-market CLEAR token buybacks and permanent burns to offset concerns over token inflation.