South Korea-based cryptocurrency exchange Upbit has announced new market support for the digital asset Clearpool (CPOOL). The exchange announced that CPOOL will be listed on 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 active within 1 hour and 30 minutes of the announcement. CPOOL spot transactions will begin at 4:30 PM on October 22nd.
CPOOL will be traded on the Ethereum network. Upbit emphasized that users should carefully select the correct network before depositing assets. It warned that assets sent via different networks may not be processed and that the refund process may take longer.
During the new listing, various trading restrictions will be implemented to counter market volatility:
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Buy orders will be closed during the first 5 minutes after the trade is opened.
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Sell orders cannot be placed 10% below the previous day’s closing price.
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Only limit orders will be accepted for 2 hours after the start of trading.
Clearpool operates as a decentralized lending marketplace offering collateral-free lending to institutional investors. The project aims to strengthen the bridge between traditional finance and DeFi (decentralized finance). The platform provides institutional lending infrastructure through various products, including PayFi Vault, USDX Treasury Pool, Dynamic, and Prime lending pools.
The CPOOL token is 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.
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