According to an official announcement from TechFlow, venture capital firm Pantera Capital announced a $5 million investment in Everclear to support its development of cross-chain clearing layer technology.

Everclear (formerly Connext) has been working on solving the problem of asset transfer between blockchain networks since 2017. The company’s newly launched clearing layer is a decentralized network that aims to achieve settlement and purification of inter-chain liquidity through complex intent resolution and self-developed optimistic convolution technology, which is expected to reduce the cost and complexity of cross-chain transactions by five times.

In addition, Everclear’s clearing layer supports custom settlement logic, allowing barrier-free access to any blockchain, driving broad growth of the network.