Clearpool, a prominent decentralized finance credit marketplace, has made a significant stride in the DeFi space with the launch of the T-Pool for Hex Trust’s latest stablecoin, USDX, on Flare. This new offering provides users with a seamless opportunity to earn USDX yield along with additional FLR rewards.
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The T-Pool comes with several attractive features:
Flexibility: Users can stake and withdraw USDX at any time without facing lock-up periods or restrictions.
Maximized Returns: In addition to earning a 4% APY on USDX, users also receive extra FLR rewards, enhancing their overall yield.
The launch of the T-Pool aligns with Clearpool’s commitment to providing innovative DeFi solutions that empower users while ensuring a straightforward and user-friendly experience. To assist users in navigating the intricacies of earning USDX yield and extra FLR rewards, Clearpool has prepared a comprehensive guide.
USDX: Stability and Flexibility
USDX, developed by HT Digital Assets, emerges as a crucial DeFi primitive on Flare, offering stability and flexibility. Maintaining a steadfast 1:1 ratio against the U.S. dollar or equivalently valued assets, USDX is backed by reserves primarily consisting of 1–3 month T-Bills securely held by regulated tier-1 financial institutions.
cUSDX, akin to an LP (Liquidity Provider) token prevalent in many DeFi protocols, represents a 1:1 value of deposited USDX. When users deposit USDX on Clearpool, they not only earn yield on their USDX but also receive additional rewards in the form of FLR tokens, ensuring an enhanced yield opportunity.
FLR Rewards
Flare, a blockchain for data, offers a unique ecosystem optimized for data-intensive use cases such as AI and real-world asset tokenization. FLR, the native token of Flare, plays a pivotal role in supporting network security through staking, decentralized data provision, governance, and transaction fee payments.
Clearpool supports MetaMask and Wallet Connect, providing users with a familiar and seamless interface. Users are advised to ensure they have sufficient FLR tokens to cover transaction fees on the Flare network. FLR tokens can be acquired from centralized exchanges such as Bybit or Gate and transferred to the FLR wallet.
Depositing USDX
Visit https://clearpool.finance/tpool and connect your wallet.
Ensure connectivity to the Flare network.
In the My Portfolio section, click Deposit.
Enter the desired amount of USDX to stake and proceed with the deposit process.
Claiming Rewards
Visit https://clearpool.finance/tpool and connect your wallet.
Confirm connection to the Flare network.
Navigate to the Pool Rewards section and click Claim Rewards to receive accrued rewards.
Withdrawing USDX
Visit https://clearpool.finance/tpool and connect your wallet.
Ensure connection to the Flare network.
Click Withdraw in the My Portfolio section.
Specify the amount of USDX to unstake and initiate the withdrawal process.
The launch of the T-Pool on Flare signifies Clearpool’s commitment to driving innovation in DeFi and empowering users with enhanced yield opportunities.