Clearpool Prime - User Guide

Discover Clearpool Prime protocol features in action and get familiar with web app interface

20 Apr 2023 | Updated 22 Jun 2023

By Vadim

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Before you begin

Clearpool Prime is accessible only to whitelisted participants
A whitelisted participant can both lend and borrow inside the Prime protocol
Borrowers can select, or “permission,” specific lenders they would like to face
Lenders can lend into pools they have been permissioned to access or into public pools available to all participants

Dashboard

Prime welcomes each user with the dashboard page. The dashboard provides a high level overview of the users’ current borrowing and lending status.

As a borrower, the user can view:

The total outstanding debt of their borrower pools 1
The next repayment deadline 2
Total number of active, open and outstanding pools 3

As a lender, the user can view:

The total outstanding balance of their lending positions 4
The average APR of their lending positions 5
The number of pools the lender is permissioned to access 6

Lending

Lending opportunities can be explored on the Pools page. Pools are either public (available to all whitelisted users), or permissioned (available to users who have been permissioned by the borrower).

Lenders can view the following live information about each pool in the table:

Pool ID and borrower name 1
Asset type, maximum (target) pool size, current pool size (% filled) 2
Lenders position in the pool 3
Current lending APR 4
Repayment type (bullet or monthly) 5
Pool maturity date and deposit window 6
Pool status 7
Pools that have been repaid or closed can be viewed by clicking on “View archive” 8

Providing Liquidity

During pool creation, borrowers can opt for either “bullet” or “monthly” repayment pools. The process of providing liquidity to either pool type is identical, however, the repayment procedure is different. Clicking any pool from the Pools table will open the individual pool page.

Bullet Repayment Pools

Note: Bullet pools require repayment of principal + interest at the pool maturity date.

Each individual pool page enables lenders to view detailed pool information. Information displayed:

Borrower name*, pool ID, asset type, APR, pool status 1
Current pool size 2
Target (maximum) pool size 3
Pool maturity date 4
P ool deposit window and status 5
Remaining p ool duration 6
Total amount due at maturity 7
T otal number of lender positions in the pool 8

*Lenders can request borrower documentation by clicking "Request Info"

Provide Liquidity

Lenders provide liquidity from the Provide tab of the control widget 9. The widget automatically detects the amount of liquidity available in the wallet matching the pool's asset type.

Callback

Lenders can request early withdrawal from the Callback tab of the control widget 9. Note: Early repayment is optional, and borrowers are not legally obligated to honor callback requests. If a borrower decides to honor a callback request, the current amount of principal + interest is calculated for repayment.

My Positions

Once liquidity has been provided to a bullet pool, the liquidity will appear as a position in the Activity section. The My Positions table provides an overview of each position held in the pool. Lenders can view the following information:

Date on which liquidity was provided 1
Pool maturity date 2
The principal amount 3
T otal interest accrued to date 4
P enalty accrued (in case of late payment) 5
Total amount due at maturity 6
Link to view transaction on public blockchain explorer 7

Operations

The Operations tab in the Activity section will display a detailed list of pool transactions. Information displayed:

Transaction date 1
Transaction type 2
Transaction amount 3
P articipant that initiated the transaction 4
Link to view transaction on public blockchain explorer 5

Monthly Repayment Pools

Note: Monthly repayment pools require the payment of accrued interest every 30 days, with the final interest payment made on the maturity date along with the repayment of principal.

Each individual pool page enables lenders to interact with the pool and view detailed pool information. Information displayed:

Borrower name*, pool ID, asset type, APR, pool status 1
Current pool size 2
Target (maximum) pool size 3
Pool maturity date 4
Pool deposit window and status 5
Next interest payment date 6
Remaining pool duration 7
Total amount due by the maturity date 8
Total number of lender positions in the pool 9

My Positions

Once liquidity has been provided to a monthly repayment pool it will appear as a position in the Activity section. The My Positions table provides an overview of information about each position held in the pool. Information displayed:

Date on which liquidity was provided 1
Pool maturity date 2
The principal amount 3
Total interest accrued to date 4
Penalty accrued (in case of late payment) 5
U pcoming 30 day interest payment due 6
Total amount due over the term of the pool (interest + principal) 6
Total interest paid to date 7

Link to view transaction on public blockchain explorer 8

Repayment Schedule

Monthly pools have a predefined interest repayment schedule that the borrower must follow. The schedule can be viewed by clicking on the Repayment Schedule tab of the Activity section. Information displayed:

Current 30 day interest period number 1
M aturity date of the current 30 day interest period 2
T otal interest due in the current 30 day interest period 3
Penalty accrued (in case of late payment) 4
T otal amount paid in each 30 day interest period 5
S tatus (to identify current, past and upcoming period) 6

My Positions

Liquidity provided to a pool is labeled as a pool position. Positions accrue interest from the moment of deposit. Lenders can have multiple positions within a single pool. On the My Positions page, lenders can view their current and past positions from bullet and monthly pools. All positions are grouped by Pool and sorted by maturity. Information

Pool ID and borrower name 1
T otal liquidity provided into pool 2
T otal accrued interest 3
Penalty accrued (in case of late payment) 4
Total amount due over the term of the pool (interest + principal) 5
position maturity date 6
positions status 7

Switching to the “Monthly” pools positions, lenders will view:

Pool Id and borrower name 1
T otal liquidity provided into pool 2
U pcoming interest repayment borrower must complete within current 30 days period 3
Maturity date by which upcoming interest repayment must be completed 4
A ccrued penalty for delayed repayment 5
T otal amount borrower must repay to lender before pool maturity 6
P osition maturity date 7
P osition status 8

Borrowing

Pools are the settlement venue for borrowing in the Clearpool Prime protocol. Borrowers create pools to receive funding from lenders according to agreed upon economic terms. Once a pool is funded by lenders, the borrower does not perform any additional actions to borrow, or “draw down,” the assets. Instead, fund are channeled directly to the borrower’s wallet via smart contracts as soon as the lender transaction is triggered; funds are never held in custody by the protocol. Borrowers can track their borrowing pools and related activities through the protocol’s “My Pools” view. Information displayed:

Pool’s unique ID 1
R epayment type 2
Total amount (including principal + interest) due by the maturity date 3
The current funding amount and percentage from requested amount 4
B orrower interest rate 5
M aturity date of the entire pool along with the deposit window details
P ool status 7

Details of past pools that have been repaid or closed are accessible via the “View archive” 8 link. Details of current pools are accessible by clicking on individual pools in the Pool detail view.

Bullet Repayment Pools

Borrowers are able to manage repayments efficiently through the Prime protocol. For Bullet Repayment Pools, operations may be conducted on the Pool page. Information displayed:

Pool overview 1
Amount funded by lenders into the pool 2
Maximum amount of funding requested by borrower 3
T otal amount including principal + interest due by the pool maturity date
P ool maturity date 5
D uration of the pool 6
D eposit window and status 7
Pool operations 8 (including repayments and closures)

Lenders

Borrowers may track the operations of individual pool lenders in the Activity section below. : Information displayed:

Names of all lendersder permissioned to access the pool 1
Lender access status (e.g., Allowed) 2
Amount of liquidity provided by each lender 3
Amount of interest accrued to each lender position 4
Amount in fees for each lender balance 5
Accrued penalty for delayed repayments 6
Total amount including principal + interest due to each lender by the maturity date 7
Status and number of lender balances in the pool 8

To view individual lender details per pool, a pop-up window with detailed information is available by clicking on the lender. Information displayed:

Date positions were created 1
Amount of liquidity provided per position 2
Amount of interest accrued per position 3
A ccrued penalty for delayed repayment 4
Total amount including principal + interest due by the maturity date per lender 5
Link to view transaction on public blockchain explorer 6

Operations

The Operations tab in the Activity section details the borrower pool’s latest transactions. Information displayed:

Date of transaction 1
Transaction type 2
A mount of liquidity provided 3
P articipant that o initiated transaction 4
Link to view transaction on public blockchain explore 5

Monthly Repayment Pools

Borrowers are able to manage repayments efficiently through the Prime Protocol. For Monthly Repayment Pools, operation may be conducted on the Pool page. Information displayed:

Pool overview 1
Amount funded by lenders into the pool 2
Maximum amount of funding requested by borrower 3
T otal amount including principal + interest due by the pool maturity date 4
Total amount of interest due within current 30-day repayment period 5
P ool maturity date 6
Due date for current 30-day repayment period 7
D eposit window and status 8
Duration of the pool 9
Pool operations (including repayments and closures) 10
I nterest repayment reminder 11

Lenders

Borrowers may track the operations of individual pool lenders in the Activity section below. Activity section opens up with pool Lenders overview. InformationIn the table, borrower can view: Information displayed:

Names of all lenders permissioned to access the pool 1
Amount of liquidity provided by each lender 2
Amount of interest due to each lender within current 30-day repayment period 3
A ccrued penalty for delayed repayment 4
Amount repaid to lender to date 5
Total amount including principal + interest due to each lender by the maturity dateStatus and number of lender balances in the pool 7

Repayment schedule

Monthly pools have predefined interest repayment schedules for borrowers. Such schedules are viewable under the Repayment Schedule tab of the Activity section. Information displayed:

Repayment period number 1
Due date for current 30-day repayment period 2
Amount of interest due within current 30-day repayment period 3
Penalty accrued for delayed repayment 4
Amount of repayment in the current 30 days period 5
Repayment period status ( urrent, Past and Upcoming) 6

My Balances

A detailed overview of the lending positions in borrowers' pools are displayed on the “My Balances” page. The My Balances view equips the borrower with an informative summary of outstanding lending positions to assist with cash management and identify repayment priorities. All positions are grouped by Pool and sorted according to maturity dates.

The My Balances view is categorized by Bullet and Monthly repayment pools. For Bullet Repayment pools, information displayed:

Pool ID 1
L ender name 2
Amount of liquidity provided by lenders 3
Amount of interest accrued to pool lenders l 4
Penalty accrued for delayed repayment 5
Total amount including principal + interest due by the maturity date 6
M aturity date of the pool 7
Status and number of lender positions in each pool tatus 8

For Monthly Repayment pools, information displayed

Pool ID 1
L ender name 2
Amount of liquidity provided by lenders 3
Amount of interest due within current 30-day repayment period 4
Amount of interest due to each lender within current 30-day repayment period 5
P enalty accrued for delayed repayment 6
Total amount including principal + interest due by the maturity date 7
Maturity date of the pool 8

Creating Borrower Pools

Clearpool Prime enables borrowers to launch two different types of pools and invite lenders to supply liquidity into these pools. The types include Bullet and Monthly Repayment Pools. Pools with Bullet schedules must be repaid at the maturity date. Pools with Monthly repayment schedules require interest repayments every 30 days with a minimum duration/tenor of 65 days.

To open a pool, Borrowers may complete the prompt under the “Create Pool” view.

Repayment type (Bullet or Monthly Repayment) 1
A sset type (e.g., USDC, DAI, USDT, ETH, etc) 2
Maximum borrowing requirement 3
Target interest rate 4
D uration (e.g. Tenor) of the pool 5
D uration of the deposit window (the amount of time given to lenders to supply liquidity into the pool) 6

Next, to deploy the pool borrowers are then prompted to select the lenders that will have access to the pool and able to supply liquidity. Permissioned lenders will receive notifications of the pool’s creation after successful deployment and subsequently be able to start provisioning liquidity into the pool as desired.

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