Clearpool Plans to Launch Yield Vault for Hex Trust’s USDX Stablecoin on Flare Network

Clearpool has partnered with Flare and The Hex Trust Group to introduce a dedicated vault for earning yield on the newly launched stablecoin, USDX. USDX, developed by Hex Trust’s tokenization ecosystem, is designed to be a key asset for financial management on the Flare network. The stablecoin is backed 1:1 against the U.S. dollar or equivalent assets, held securely by regulated financial institutions. USDX holders can stake their stablecoin on Clearpool to earn real-world yield. The staking process allows for flexible deposits and withdrawals without lock-up periods, optimizing returns through base yield and FLR incentives. Staking USDX on Clearpool generates cUSDX, which can be used as collateral in Flare Labs’ FAsset system. This supports the use of non-smart contract assets in DeFi on Flare. The collaboration between USDX and Clearpool on Flare offers a 1:1 backed stable asset with immediate access to real-world yield, benefiting FAsset agents. Clearpool’s yield vault on Flare expands its ecosystem to its seventh blockchain and demonstrates its commitment to innovation and meeting the demand for real-yield earning opportunities. Clearpool is a leading decentralized finance credit marketplace, while Hex Trust is a licensed digital asset custodian, and Flare is an EVM smart contract platform. The collaboration paves the way for secure and flexible solutions for stablecoin holders and highlights the potential for bridging traditional and decentralized finance.