Chain abstraction has always been a track we pay close attention to. In the current era of hundreds of chains competing, we are trapped in a cage: choosing the right network, bridging assets, obtaining gas tokens, etc.; fragmentation and PVP with each other. The user experience is painful, and inter-chain coordination is cumbersome! EverclearOrg is changing all this, introducing the first clearing layer to solve the problem of modular blockchain fragmentation and providing a perfect interoperability infrastructure.

Pain points:
In an era where hundreds of chains are competing (various L1, L2, Rollup) and modularization (execution layer, settlement layer, consensus layer, DA layer) is prevalent, value islands between chains and modular fragmentation are extremely serious.

This causes many problems, such as decentralized liquidity, unfriendly users (GAS fees, multiple wallets, network switching), and high R&D costs for developers across multiple chains.

And we need a strong infrastructure to solve the above problems.

Project Introduction
NEXT (@EverclearOrg) is the industry's first multi-chain Clearing Layers. The Clearing Layers feature is a decentralized network for global net settlement and settlement of capital flows between chains. By integrating and settling inter-chain liquidity, it solves the liquidity fragmentation problem caused by modular blockchains.

Modular fragments:
•There are currently 53 Rollups (over 250 chains in total), and this number is growing exponentially.
•Caused widespread fragmentation in mobility and UX.
•Cross-chain bridges do not solve the above problems. They are limited by liquidity/solver bottlenecks and cannot effectively balance cost, security, and centralization.

Pain points of traditional cross-chain:
Solvers provide user assets to the target chain and get reimbursed on the original chain, so solvers face many challenges:
• Path dependence: In order to make profits, solvers focus more on cross-chain assets with large flows, which is unfriendly to new chains and further disperses liquidity. ​
• High balancing costs: Solvers invest funds on the target chain but get reimbursed on the origin chain, thus requiring frequent and expensive rebalancing costs. ​
• Centralization: Top solvers hold large balances on each chain in order to reduce rebalancing costs, while small solvers have no choice but to centralize in order to make a profit.


In order to better solve the above problems, make each chain have better asset flow, and make chain abstraction play a better role.

Everclear found that when you zoom in and look at global money flows between blockchains, more than 80% of them are netted. In other words, for every $1 transferred in, $0.8 is transferred out on average every day.

So we don’t need more cross-chain bridges, but we need an underlying clearing layer to make up for each other’s net settlement.

Everclear reduces rebalancing costs and complexity for solvers, market makers, and CEXs by up to 10x by netting and integrating across any given asset or ecosystem.

A simple analogy: Visa payments. When a user buys a cup of coffee with a Visa card, the funds do not move instantly between banks. Instead:
• Visa instantly authorizes the transaction with the coffee shop and you get your coffee right away.
• Behind the scenes, Visa collects all transactions over a period of time and combines them into a net flow of funds.
• Finally, Visa coordinates the final settlement of the amount between the banks.

core advantages:
•Net settlement: enables inter-chain settlement, no bridging and no wear, reducing costs and complexity by 10 times
• Programmable Settlement: Everclear supports programmable settlement, allowing anyone to establish connections and coordinate messaging protocols, standardize bridges, etc.
• Permissionless liquidity and chain extension: Everclear provides permissionless liquidity for new chains and arbitrary intent chain abstraction extension services.

Partner:
Key infrastructure: Hyperlane, Graph, Celestia, Eigenlayer
Chains and RaaS providers: Arbitrum, Linea, Optimism, Gnosis, XLayer, Fuel, Gelato, and AltLayer
Wallets and apps: Renzo, Safe, Metamask, LiFi
Chain abstraction protocols: Near, Socket, Particle Network, Aori, Enso, Frontier, Khalani, Orb Labs, etc.

Everclear supports L2 native re-staking solutions, allowing LRT providers to provide one-click L2 re-staking without requiring users to pay mainnet gas fees. @RenzoProtocol is leveraging Everclear technology to achieve rapid growth in TVL re-staking data.

data:
Currently#Everclearhas $1.17 billion TVL
But the market value is only 31 million US dollars
MC/TVL=0.026, lower than 98% of protocols and DEFI
Processing up to $250 million in bridging volume per month, supporting 20 public chains
Currently, the entire cross-chain track ranks 5th, with a monthly growth of up to 34% (Defillama data)
Overall, the recent data growth is rapid, and the price of the currency has not yet shown any signs of improvement, so it is worth noting.

team
Arjun Bhuptani is the founder of Everclear and co-founder of Moloch DAO. He is a physicist and a veteran Web3 entrepreneur.
Dima Khanarin is the CEO of Everclear and previously worked at Fuel Labs and McKinsey.
Layne is one of the co-founders of Everclear and has worked on Ethereum for two years, focusing on state channels and state channel networks.

Investment agency
The total amount of financing is as high as 26.7 million US dollars.
Investment institutions include: @polychain, @panteracapital, @1kxnetwork, @consensys, @hashed_official, @polygonventures, @cbventures, @ngc_ventures and other mainstream well-known institutions.

Valuations remain low
Everclear is still undervalued in the cross-chain interoperability race, compared to competitors such as Wormhole and AxelarNetwork.

• $NEXT: MC $31 million, FDV $290 million, $250 million in monthly bridge volume
• $W: MC $1.13 billion, FDV $6.27 billion, $125 million in monthly bridge volume
• $AXL: MC $580 million, FDV $980 million, $148 million in monthly bridge volume

future:
Everclear is an aggregation of Arbitrum Orbit with the Gelato RaaS and uses Hyperlane and its Eigenlayer AVS to connect to other chains.

In essence, it can be understood as ETH L2, using EigenLayer as the consensus layer, Hyperlane as the transport layer, and Everclear as the clearing layer.

The testnet is now live. The Alpha mainnet will be launched in early Q3, so stay tuned!

Summarize:
As the first multi-chain Clearing Layers, Everclear is providing a more ambitious underlying settlement layer with a concept that goes beyond the abstraction of traditional chains. It provides users and project parties with the best interoperability experience, reduces user usage costs, and improves convenience. As more and more projects use and cooperate, it is expected to become a monopoly in the field of infrastructure clearing layers in the future, which is worth value discovery and expectation!