Everclear, the innovative Clearing Layer designed to address crosschain liquidity fragmentation in the blockchain space, has announced substantial developments in its ecosystem. The Everclear DAO has approved crucial proposals for new tokenomics and a token migration from NEXT to CLEAR, coinciding with impressive performance metrics from its Mainnet Beta.
The blockchain landscape has seen rapid expansion, with over 250 chains currently active and more in development. This growth has led to significant challenges in liquidity distribution and user experience across different chains. Everclear’s Mainnet Beta has demonstrated promising results in tackling these issues, achieving crosschain transaction fees as low as 0.02% and netting up to 50% of transactions. The protocol has also experienced a threefold month-over-month growth, indicating strong adoption and efficiency gains.
Arjun Bhuptani, Founder of the Everclear Foundation, emphasized the significance of these early results, stating, ‘The strong early results from the Mainnet Beta validate Everclear’s approach to building the first clearing layer to solve liquidity fragmentation.’ He added that the DAO’s approval of the new proposals marks a crucial step towards creating a sustainable, decentralized system for efficient global settlement coordination.
The newly approved tokenomics introduce a vote-bonding system designed to incentivize ecosystem growth and reward active participants. CLEAR token holders can stake their tokens for up to two years, enabling participation in protocol governance and fee sharing. This model allows participants to direct emissions to specific chains, ensuring optimal liquidity distribution across the ecosystem while creating a marketplace for chains to incentivize solver support.
A comprehensive rewards program, Season 1, is set to launch on December 6, 2024, at 13:00 UTC, running for three months. The program boasts a total rewards pool of 70 ETH and 6.25 million CLEAR tokens, structured to drive early participation and ecosystem growth. Tokens are allocated to solver incentives based on settlement activity, ensuring that active contributors are rewarded for scaling liquidity flows.
Everclear has attracted prominent ecosystem participants, including Synapse Protocol, Router Protocol, Tokka Labs, and Aori, who are actively engaging as rebalancers and solvers in the system’s coordinated settlement marketplace. The protocol has also garnered support from leading investors such as Polychain Capital, Pantera Capital, NGC Ventures, 1kx, Polygon Ventures, Coinbase Ventures, and Ethereal Ventures.
The token migration from NEXT to CLEAR is scheduled to begin on December 6th at 13:00 UTC. Holders of NEXT tokens on Layer 2 networks (Arbitrum, Optimism, Polygon, BNB, Gnosis) will be automatically upgraded to CLEAR without any required action. Ethereum Mainnet NEXT holders can manually migrate their tokens to CLEAR on a 1:1 basis through a process outlined in Everclear’s official announcement.
Everclear’s innovative approach to netting and settlement aims to reduce costs and complexity for cross-chain operations while enabling seamless liquidity flow and permissionless chain expansion. As the foundation of the Chain Abstraction stack, Everclear is positioning itself to power the next generation of blockchain interoperability, potentially revolutionizing how liquidity is managed and distributed across the rapidly expanding blockchain ecosystem.
For more information about Everclear and its developments, interested parties can visit https://everclear.org or explore their blog for detailed insights and updates.
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