Clearpool Proposes 1:1 CPOOL-to-CLEAR Migration With XRP Ledger Expansion

Key Facts

On September 11, Clearpool presented a proposal combining an expansion of its institutional lending business to XRP Ledger with a 1:1 migration from CPOOL to a new token called CLEAR. The migration has not been implemented; the treasury recapitalization and new-token terms remain subject to governance approval.

Clearpool's website describes its XRP Ledger product as “coming soon” and says it will use RLUSD and the network's native credit architecture, including XLS-65 vaults and the XLS-66 Lending Protocol. The announcement is therefore a conditional expansion plan, not a completed technical migration.

Single Asset Vaults aggregate funds from multiple depositors in one asset, while the Lending Protocol uses that liquidity to issue fixed-term loans. XRP Ledger documentation says the model enables uncollateralized onchain loans while keeping credit assessment and risk management offchain.

Once credit terms are agreed, the ledger handles origination, interest, repayment schedules and default mechanics. A loan broker may also provide first-loss capital, which can reduce default losses but does not eliminate credit risk.

The token proposal links recapitalization to the near-complete vesting of CPOOL's supply, stating that 99% has vested and growth reserves have been used. It would also direct 50% of protocol fees to open-market CLEAR purchases and burns, following a 14-day discussion period and a Snapshot vote by tokenholders.

For CPOOL holders, the 1:1 ratio preserves only the nominal token count and does not guarantee equal market value after migration. The decisive next steps are the governance vote, publication of final implementation terms, and validator approval of XLS-65 and XLS-66 before the native product can operate on XRP Ledger mainnet.