Chain abstraction is the next core narrative under the modular development path. With the rise of Rollup solutions and RaaS, it has become very simple to develop L2, such as Op Stack or Arbitrum Orbit or ZK Stack. With the help of modular solutions, L2 can be easily built, which has also led to an exponential growth in the number of L2. Currently, there are 74 L2s online in the market, and more are coming soon, which has led to widespread fragmentation of liquidity and user experience. Users are forced to choose the right network, bridge assets, obtain Gas tokens, etc. However, liquidity does not flow between each other, and LP pools cannot achieve effective value acquisition.
#Everclear ( @EverclearOrg ), as the first clearing layer of Web3, is effectively solving the above pain points. Today, the Everclear mainnet beta version is officially launched, which will effectively solve the liquidity fragmentation problem of modular blockchains and become the infrastructure of the chain abstraction stack.
As the master of chain abstraction, it simplifies cross-chain intent and realizes modular settlement and clearing network. This architecture is applicable to any cross-chain intent product. All intent systems follow the same three main steps:
• Auction: Users express their intent to trade across chains. This intent is broadcast to an open ecosystem of solvers, who compete based on time, pricing, or other parameters.
• Execution: The winning solver uses its own funds to execute the intent on the target chain.
• Settlement: The Intent Protocol then reimburses the Solver using the original funds from the user on the source chain.
The five core modules of execution intention are:
1. Permission layer: express user intent and grant permissions to execute those intents.
2. Auction layer: selects which solver should fill a given intent.
3. Solver: Executes intent on the target chain.
4. Clearing layer: Netting solver invoices and selecting the best settlement path.
5. Settlement layer: The final funds are allocated back to the solver.
Core advantages:
• 10x Cost Reduction through Netting: By netting transactions, Everclear reduces settlement costs and complexity by up to 10x.
• Programmable Settlement: Everclear supports programmable settlement, allowing anyone to build connections and coordinate messaging protocols, token standards, specification bridges, and any other mechanisms for settling users.
• Permissionless Liquidity and Chain Scaling: Everclear can provide permissionless liquidity to new chains from day one, which can serve as the foundation for intent-based bridge and chain abstraction application launch support.
Strong Ecosystem Adoption:
Key Infrastructure: Celestia, EigenLayer, Hyperlane, The Graph, Nektar Network, Frontier Research
Rollup/RaaS：Arbitrum、Linea、Optimism、Gnosis、X Layer、AltLayer、Gelato、Router etc.
Aggregators/bridges: LIFI, Router, Symbiosis, Synapse
Chain abstraction protocols: Kontos, Orb Labs, Particle, Socket, Aori, NEAR, Enso, Khalani, etc.
Actual data growth example #Renzo:
#Renzo gains over $1B in additional TVL growth after integrating with#Everclear's chain abstraction tech, powering "L2 Restaking"!
Through#Renzoand #Everclear's "Restaking Anywhere" partnership,#Renzodata has grown rapidly, with 19.9% of ezETH supply on #Everclear's integrated L2. The "Restaking Anywhere" products are a strong case for #Everclear's fit in the market, as they allow L2 users to directly participate in ETH's largest hotspot (Eigenlayer) while avoiding unnecessary high fees and complex bridges. The success of "Restaking Anywhere" and the broader xERC20s will surely lead to more L2 and DEFI partnerships with#Everclearto achieve rapid growth and value capture in the future.
Token Economics:
After the DAO proposal was approved, Everclear is upgrading the $NEXT token and introducing a novel voting-bonded token mechanism. In order to better support the realization of the great vision of chain abstraction, the team extended the token unlocking plan from 12 months to 18 months. The new unlocking start date is December 2024, which fully demonstrates the team's confidence and long-termism.
According to the DAO vote, the new token economics is designed to incentivize solvers, market makers, and arbitrageurs to maintain efficient liquidation behavior:
1. $NEXT holders can stake the token and earn $vBNEXT, which can be used to guide token issuance to underutilized paths or chains.
2. Incentive solvers and intention protocols solve chain abstraction activities through Everclear, thereby increasing liquidity and improving the efficiency of the network.
3. The reward system will be established in advance to balance token supply growth and ensure strong incentives for rebalancing activities to prevent large liquidity providers from monopolizing rewards.
Summarize:
#Everclear, as the first player in the clearing layer and settlement field, has great significance and opportunity value, and will effectively realize the beneficial value integration of L2 and DEFI applications and even the entire ecosystem. With the increase of partners, a certain network effect will be formed, and settlement will become more and more efficient as you get real value flow between all bridges and amortize transaction fees over larger amounts.
Let's assume that if all other bridges are already using #Everclear, why would competitors build their own settlement layer in-house? We are very optimistic about the chain abstraction track and look forward to#Everclearplaying an important role in the modularization of multi-billion dollar crypto clearing in the near future, as well as playing a key role in ETH expansion and Web3 user experience. Worth looking forward to!
If you are building a chain abstraction project or are a solver/market maker/CEX, get in touch with#Everclear( @EverclearOrg ). Join the DAO and build a chain abstracted future with#Everclear.
