Ozean provides an optionally available compliance layer, native stablecoin backed by U.S. treasury belongings, and real-world asset liquidity layer.
Clearpool, a significant DeFi credit score protocol, is launching an Ethereum Layer 2 community designed to facilitate DeFi use instances for real-world belongings.
On Aug. 20, Clearpool introduced Ozean, an OP Stack-based Layer 2 community catering to real-world asset (RWA) yield protocols by providing an optionally available compliance layer alongside a decentralized id system facilitating know-your-customer necessities.
Clearpool mentioned the optionally available compliance layer unlocks RWA interoperability throughout permissionless protocols, enabling unprecedented development charges throughout the RWA sector.
“RWA protocols lack composability, and DeFi applications suffer from poor user experience,” Clearpool said. “With an opt-in compliance layer, users only need to onboard once. Protocols can set their KYC requirements, represented by a Decentralized ID token linked to the user’s address. This approach allows anonymous and permissioned users to coexist, unlocking the substantial potential for a thriving trillion-dollar RWA ecosystem.”
The community combines Optimism’s OP Stack tech stack with Caldera’s rollup-as-a-service platform. With Ozean becoming a member of Optimism’s Superchain ecosystem, the challenge will donate a portion of its income to the Optimism Collective.
The Clearpool lending protocol has originated $590 million price of loans since launching in March 2022. The value of Clearpool’s CPOOL token is up 17.6% up to now 24 hours, in line with The Defiant’s crypto value feeds.
Native stablecoin yield
Ozean additionally takes inspiration from Blast and Mantle by providing a local yield mechanism for customers bridging belongings onto the community.
Any stablecoins bridged onto Ozean will mechanically convert into USDX, a stablecoin backed by U.S. treasury payments or equal belongings. USDX holders can then lock their belongings in alternate for ozUSD, which accrues yield for tokenholders.
OzUSD yields will modify primarily based on how lengthy holders lock their tokens for, with Clearpool at present estimating {that a} six-month lockup will accrue annual curiosity of 5.35%. “This on-chain yield curve facilitates the development of a broad range of financial instruments, including FX swaps, IRS, CDS, and swaptions,” Clearpool mentioned.
USDX will comprise Ozean’s native gasoline token, whereas Clearpool’s CPOOL token powers a local staking mechanism accruing rewards from sequencing and blockspace charges and the treasury belongings backing USDX.
CPOOL is topic to a quarterly buy-back-and-burn mechanism funded with Clearpool protocol income.
RWA liquidity layer
Ozean provides an “RWA liquidity layer” known as Oxygen. Clearpool mentioned the layer will include tokenized treasury belongings, probably the most liquid cryptocurrencies together with Bitcoin and Ethereum, and Ozean-native yield-breaking tokens.
Oxygen, also referred to as 02, seeks to supply a “unified basket of assets” facilitating lending, collateral, and buying and selling use instances. Oxygen belongings are topic to weekly rebalancing to take care of goal weights.
“O2 accrues value through yields from lending protocols and tokenized treasuries, and it can be staked to earn fees and leveraged,” Clearpool mentioned. “This unique layer also supports stablecoin issuance and lending backed by RWAs, boosting liquidity and enhancing financial flexibility in the Ozean ecosystem.”
Ozean additionally encompasses a native custodial pockets service designed to mitigate the frictions related to conventional Externally Owned Account wallets.
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