🧠 Intro: Capital Is Expensive. Clearing Makes It Cheap.

In DeFi, collateral doesn’t move — it sits.

Locked in perps.

Trapped in options vaults.

Splintered across protocols like liquidity confetti.

Every trade demands fresh margin.

Every product operates in a silo.

And every “solution” just asks you to stake more USDC.

This isn’t sustainable.

It’s capital inflation.

But there’s a fix — and TradFi already solved it: clearing.

Not just risk management. Risk compression.

Pascal brings that to DeFi.

And the result is something we call the Clearing Multiplier — the ability to reuse capital across venues and extract more output from every dollar of input.

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⚙️ What Is the Clearing Multiplier?

In TradFi, when a bank trades on CME, its margin is calculated across the entire portfolio.

Long equities + short crude = lower total exposure.

Why? Because the clearinghouse offsets risk.

This netting effect unlocks what economists call collateral velocity — the rate at which a single unit of capital can be reused across trades.

TradFi multiplies capital through clearing.

DeFi just stacks it in vaults.

Pascal flips that.

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💡 How Pascal Enables Real Capital Compression

Pascal Protocol is a clearing engine for DeFi that allows margin to be reused across:

• Products (perps, options, RWAs, etc.)
• Protocols (vaults, platforms, DEXs)
• Timeframes (intraday, multi-session)

Here’s how it works:

✅ Portfolio-based VaR margining

✅ Netting across exposures

✅ Composable integration with external venues

✅ Deterministic liquidation and auditability

✅ Smart contract–enforced margin compression

Result?

🔁 The same collateral can power 3–10x more trades without increasing systemic risk.

That’s the Clearing Multiplier.

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🏦 What Builders and Traders Get from Pascal

If you’re building:

• You no longer have to create a margin engine from scratch.
• You inherit Pascal’s logic and integrate in days.
• Your users unlock capital efficiency on Day 1.

If you’re trading:

• You can deploy a single collateral pool across multiple venues.
• Risk is calculated holistically, not in isolation.
• You get lower liquidation risk and higher capital output.

In short: you get capital that actually works.

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🔥 Jetstream: The First Live Clearing Multiplier in DeFi

Jetstream is the first trading platform built on Pascal.

It’s not just talk — it’s clearing in production.

• Portfolio-based margin across futures and options
• Composable clearing logic with Pascal under the hood
• Real-time risk netting and on-chain transparency

Jetstream proves that Pascal’s clearing layer compresses capital and expands markets.

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🧠 Final Thought

“In TradFi, clearing made leverage possible.

In DeFi, clearing will make liquidity scalable.”

— Pascal Protocol

If you want real capital velocity, you need a multiplier.

Pascal is that multiplier — and it clears it all.