Clearing Isn’t Just for Perps

Why every serious DeFi product — from RWAs to options to structured vaults — needs on-chain clearing.

Intro: Stop Thinking Like a Trader

Ask most people what needs “clearing” in DeFi, and they’ll say perps.

Because that’s what clearing sounds like:

• Matching buys and sells
• Resolving exposure
• Keeping leverage safe

But that’s the problem.

DeFi thinks about clearing like a trader — not like a market.

Clearing isn’t a product vertical. It’s infrastructure.

And Pascal isn’t here just to clear futures.

It’s here to clear everything.

What Happens Without Clearing

Here’s what every non-perp product in DeFi does today:

• Invents a risk model from scratch
• Hardcodes margin parameters
• Builds its own liquidation logic
• Hopes users don’t panic when something breaks

From RWAs to options to yield vaults — every protocol ends up owning a piece of the risk stack it was never built to handle.

That’s not innovation.

That’s tech debt in disguise.

Pascal Clears Products That Don’t Look Like Trades

Pascal turns clearing into a shared, composable layer across categories:

• RWAs – Clear portfolio exposure against on-chain positions
• Options – Margin reuse and predictable liquidation
• Vaults – Dynamic risk buffers enforced in code
• Lenders – Real-time risk integration across strategies
• Perps – Portfolio-based netting across all positions

It’s not about trading.

It’s about structure.

Why Builders and Markets Need This

For builders:

• Stop managing custom margin logic
• Plug into a tested clearing engine
• Share risk infrastructure with the rest of the DeFi stack

For markets:

• Liquidity moves seamlessly
• Margin follows risk, not price
• Risk becomes composable, auditable, and programmable

Final Thought

Perps didn’t invent clearing. They just reminded DeFi why it matters.

Pascal isn’t here for one product.

It’s the risk layer for everything on-chain.