More than just a simple currency exchange, interpreting the latest upgrade of the Everclear settlement protocol

Author: Deep Tide TechFlow

After the long hibernation, the encryption market has recently been bustling. In addition to the booming concepts of MEME and Compliance, many infrastructure projects have also seen a wave of gains. Those who understand and update their own infrastructure projects in time may be more favored by the market in this enthusiastic bull run.

Today, the Cross-Chain Interaction clearing layer protocol Everclear (@EverclearOrg) announced an important upgrade plan: to upgrade NEXT Token to CLEAR, and introduce the innovative vbCLEAR (vote-bound CLEAR) mechanism.

After our investigation, we found that this is not a simple coin swap, but rather a significant upgrade for Everclear in the competition of Cross-Chain Interaction infrastructure.

Reassessing the value of the clearing layer from the data perspective

The current Cross-Chain Interaction ecosystem is facing a slightly awkward situation: the number of public chains has exceeded 250, and the traditional one-to-one Liquidity docking mode is difficult to continue. New public chains often need to invest a lot of resources to establish cooperation with various bridges and market makers at the beginning of their launch, and the inefficient Liquidity acquisition method has become a bottleneck for the ecological development.

By centrally coordinating global Settlement through the clearing layer, Everclear achieves 10x cost optimization for rebalancing. As Everclear puts it, 'Everclear is like UberPool in the world of Liquidity, making Cross-Chain Interaction transactions bid farewell to the era of high costs through scaled matching and settlement.'

During the three-month test mainnet operation, Everclear has shown good data performance: Cross-Chain InteractionMoney Laundering dropped to a historic low of 0.011%, nearly 90% lower than traditional Cross-Chain Interaction solutions; Liquidity net settlement rate reached 50%, meaning that every two Cross-Chain Interaction transactions can achieve one Hedging through the clearing layer. The triple rise in three consecutive months also proves that the clearing layer solution is not a 'false demand' in the market.

Innovation based on Arbitrum Orbit

From a technical perspective, Everclear chooses to build its clearing layer infrastructure based on Arbitrum Orbit. The Orbit technology stack not only provides high-performance transaction processing capabilities but also ensures seamless compatibility with the Ethereum ecosystem.

In terms of specific implementation, Everclear's clearing layer design adopts a unique dual-layer structure:

Basic Cross-Chain Interaction layer: Users initiate Cross-Chain Interaction transactions through traditional Cross-Chain Interaction bridges (such as Router protocol, Across, Synapse, etc.)

Clearing Optimization Layer: Professional Solvers (clearers) conduct Cross-Chain Interaction clearing through the Everclear protocol, significantly reducing funding costs

This design allows Everclear to provide more efficient clearing services for Cross-Chain Interaction infrastructure without affecting user experience.

Exchange+stake, a reimagining of the clearing layer's economic model

In this field, Everclear is not alone. Traditional Cross-Chain Interaction bridges such as Stargate and Hop Protocol are constantly optimizing their clearing mechanisms. However, Everclear's differentiated advantage lies in its focus on the clearing layer, a segmented track, to achieve ultimate efficiency through specialization. This time, it is precisely because of the rising demand for Cross-Chain Interaction that the market trend is upgraded.

Staking is a vbCLEAR mechanism for voting and earning rewards.

In addition to the 1:1 exchange of NEXT Token for CLEAR, the core of this upgrade lies in the introduction of the vbCLEAR mechanism. Under the new mechanism, CLEAR Tokenholders can obtain vbCLEAR through staking, thereby participating in ecosystem governance.

vbCLEAR mechanism has a complete Token economic cycle:

Stake Mechanism: CLEAR holders obtain vbCLEAR through staking.

Governance Voting: vbCLEAR holders participate in the decision-making of emission distribution, including voting to direct Liquidity incentives (emission) to specific chains and Slover

Incentive Distribution: According to the voting results, incentives will be distributed to Solvers on each chain.

Cost feedback: vbCLEAR holder can get two types of rewards

Protocol fees: dynamic fees paid by validators and users using the Everclear Liquidity settlement system (currently between 0.2-1 basis points based on transaction conditions)

Quarterly incentive: fixed reward pool, such as 1.75 million CLEAR in the first quarter, distributed to vbCLEAR holder

Season 1 Incentive Program

To ensure the rapid launch of the upgraded ecosystem, Everclear has launched the first quarter incentive program Season 1. In the three-month incentive season starting on December 6th, the project will release a reward pool of 1.75M CLEAR Tokens and 70 ETH.

By creating a self-driven positive flywheel: the more stake brings more accurate Liquidity configuration, thereby attracting more volume, and ultimately giving back to the ecosystem participants.

Summary

The upgrade of Everclear is essentially a strategic layout for the future. As a sub-track of the Cross-Chain Interaction infrastructure, the clearing layer has long-term value, and Everclear's innovative attempts have brought more diverse participation methods to this track.

The vbCLEAR mechanism balances governance, economic incentives, and market efficiency, providing new ideas for addressing the liquidity dilemma of Cross-Chain Interaction. Although the high incentives of Season 1 provide a good opportunity to get on board, market participants still need to carefully follow the actual operational effects after the project upgrade.