South Korea-based cryptocurrency exchange Upbit has announced new market support for Clear Pool of Digital Assets (CPOOL). The exchange announced that CPOOL will be listed on the KRW (Korean Won), BTC (Bitcoin), and USDT (Tether) trading pairs.
Upbit announces new market support for Clearpool (CPOOL)
According to the statement, CPOOL deposits and withdrawals will become effective within 1 hour and 30 minutes of the announcement. CPOOL spot trading will begin at 4:30pm on October 22nd.
CPOOL is traded on the Ethereum network. Upbit stressed that users should carefully choose the correct network before depositing their assets. It warned that assets sent via different networks may not be processed and the refund process may take longer.
During the IPO, various trading restrictions will be in place to combat market volatility.
Buy orders are closed within the first 5 minutes of trading.
Sell orders cannot be placed below 10% of the previous day’s closing price.
Only limit orders will be accepted for 2 hours after the start of trading.
Clearpool operates as a decentralized lending marketplace that provides unsecured lending to institutional investors. This project aims to strengthen the bridge between traditional finance and DeFi (decentralized finance). The platform provides institutional lending infrastructure through various products such as PayFi Vault, USDX Treasury Pool, Dynamic, and Prime lending pools.
CPOOL tokens will be used for staking, governance, and incentive mechanisms on the network.
With this move, Upbit aims to expand access to DeFi-based lending protocols and increase liquidity options for institutional users.
*This is not investment advice.
