Ozean Poseidon Testnet from Clearpool is LIVE!

Clearpool is one of the top trending projects in the popular RWA or real-world assets sector of crypto. They are making all the right moves in this market. And in a BIG update from the team, the new Poseidon Testnet for Ozean is live.

Let’s take a look at what Poseidon Testnet from Clearpool is and how you can use it.

Brief Intro to Ozean

First, let’s recap what Ozean is. Clearpool started as a protocol for decentralized credit. In other words, lending without fully-backed collateral. This is a rarity in DeFi. And it’s working great so far. The project has originated over $650 million in loans so far.

The team noticed the bigger opportunity in having a compliant chain (compliant with regulators that is) so that any project that wants to list or tokenized their assets can do so.

And that’s Ozean. It’s a Layer 2 for Ethereum built on Optimism. Ozean is also a part of the Optimism Superchain so there are some added benefits and compatibility with other chains from that relationship, too.

We are big fans of Ozean and its potential. We did a video on it just last week. You can catch it right here.

And Ozean has a chance to unlock a lot more value for Clearpool and its $CPOOL token. Now onto the big news.

Poseidon Testnet is LIVE!

Using Ethereum’s Sepolia Network, Ozean’s testnet named Poseidon is now live and ready to try out and test.

Ozean has a couple of key features including the Hex Trust issued USDX stablecoin. Hex Trust, not to be confused with Richard Heart’s Hex project, is one of the top digital asset custodians in the industry. They custody billions of dollars on behalf of clients all over the world. USDX, with its backing, has a chance to become a viable competitor to USDC and USDT. More importantly, as a partner in the launch of Ozean, they are a source for legacy assets to come on-chain and tokenize.

Aside from its huge custody business, Hex Trust is in the validator business too, helping to provide key infrastructure to PoS networks. They just recently partnered with Injective to validate their chain earlier this year.

The point is Hex Trust is a vital partner in the launch of Ozean and one of the keys to Ozean’s credibility and success. It gives the Clearpool team a big head start with a lot less to prove than a new chain and new team presenting their work to the public.

Ozean Prize Pool Giveaway

As part of the Ozean Poseidon Testnet, there is a $6000 USDT giveaway to help get you started in using the network. Here’s how you get your piece of the prize pool.

1. Join Community quests for Poseidon on Intract
2. Complete the tasks
3. Your completion of the tasks enters you automatically into the prize pool
4. Give feedback to the Team to help them make the mainnet even better.

The contest is on now but only until December 27th, so you need to get started.

How to Get Started on Ozean

So how do you try out the testnet? First, you need to bridge some tokens to Ozean using the Optimism or Lido bridges. This will automatically convert these tokens to the gas token USDX. They can then use the WaveMaker to tokenize an asset or stake $CPOOL or earn yield with ozUSD. You can also get USDX from the Caldera Hub faucet that serves Sepolia and the Poseidon Testnet.

One thing Ozean has that many chains in RWA don’t have is the chance to earn yield automatically on-chain. This is something that sounds simple but most chains don’t offer this and this advanced form of collateral management will be hugely successful with institutions coming on-chain and expecting to earn at least money market rates on their money while they wait to make a deal. The native yield comes from their ozUSD token, which you can easily convert from USDX to start making some money.

The Oxygen Liquidity Layer

Clearpool and Ozean also address the common problem of fragmented liquidity. This is where you bridge tokens to a chain and the coins are basically stuck there. Stuck instead of being able to provide liquidity elsewhere on another chain to help a protocol, a fellow user, and yourself by earning $$. This layer connects and uses the 3 most popular coins BTC, ETH, and SOL as well as yield-bearing stablecoins to help apps bootstrap the liquidity they need to start their project or get their first trades or loans done. Builders can tap into this liquidity while they build and you earn while providing the liquidity as you would in any other LP in DeFi. It’s got great potential. Velodrome will support this effort by being the top DEX on Ozean and having liquidity pools for users that Ozean can tap into.

So go try the Poseidon Testnet on Ozean from Clearpool today. You can start easily with this guide to getting USDX from a faucet to test on Sepolia. Help the team improve the network and get a piece of that $6,000 USDT prize pool while you do it.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Clearpool.

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