What is CLever?
CLever is a decentralized finance (DeFi) protocol developed by AladdinDAO, designed to maximize the yield potential of assets like CVX (Convex Finance) and FRAX by allowing users to claim and utilize future yields immediately. By depositing high-quality tokens into CLever, users can unlock future yields, which can then be farmed, re-deposited to create leverage, or used for other purposes within the DeFi ecosystem.
The protocol operates with a unique mechanism where users can lock their assets, such as CVX, in a yield strategy and instantly claim some of their future yields as synthetic tokens, like clevCVX or clevUSD. These clevTokens represent the future yield of the underlying assets and can be utilized within CLever’s liquidity pools or swapped back into the original tokens. This process allows users to effectively leverage their positions, increasing their potential returns without the risk of liquidation, a common issue in other DeFi protocols.
CLever’s governance is managed through its native token, CLEV, which plays a crucial role in the platform's decision-making and reward distribution. Holders of veCLEV, a vote-escrowed version of CLEV, participate in governance decisions and earn a share of the protocol’s fees, further incentivizing long-term commitment.
CLever stands out for its focus on automating yield strategies and offering a low-risk, non-liquidating loan structure, making it an attractive option for DeFi users looking to enhance their yield farming strategies.