{"id":21912,"date":"2024-06-04T00:45:50","date_gmt":"2024-06-03T21:45:50","guid":{"rendered":"https:\/\/coinengineer.io\/?p=21912"},"modified":"2024-06-03T22:49:11","modified_gmt":"2024-06-03T19:49:11","slug":"connext-rebrands-as-everclear-aims-for-innovation","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/connext-rebrands-as-everclear-aims-for-innovation\/","title":{"rendered":"Connext Rebrands as Everclear, Aims for Innovation"},"content":{"rendered":"

Rebranding Everclear<\/strong> as part of a strategic turn is blockchain<\/a> interoperability platform Connext<\/a>.<\/p>\n

Apart from the renaming, the initiative is creating a “clearing layer” for intent-based bridges, therefore addressing issues related to the rebalancing and settling of intentions.<\/p>\n

Using an open network of intent solvers and the Everclear<\/strong> chain, an optimistic roll-up of Everclear<\/strong> will form the new basis of the modular stack. Acting as its own blockchain, the so-called clearing layer will act as a backend liquidity system, helping order matching for intent-based bridges.<\/p>\n

Under this method, a user from one blockchain broadcasts their intent when wanting to engage with an application on another, allowing solvers to compete to accomplish it for a nominal charge and provide their own cash if necessary.<\/p>\n

Under an over-the-counter agreement to help with the creation and application of the clearing layer, the project has also sold $5 million in Connext (NEXT) tokens to Pantera Capital.<\/p>\n

The development of Everclear<\/strong> as an arbitrum-orbit-based roll-up chain is in progress. Operating as an actively validated service, it will be secured by Eigen Layer and use Hyperlane for permissionless communication across many chains.<\/p>\n

Everclear<\/strong> wants to enable user interactions with any application across any blockchain and asset using this method, with minimum fees and latency under 10 seconds.<\/p>\n

Currently under development by various partners, including socket, particle network, router, enzo, and others, Everclear<\/strong> has a testnet under operation. The third quarter of 2024 should see the mainnet’s launch.<\/p>\n

Connext has $1 billion locked overall over ten supported chains. The project attracted $7.5 million in strategic finance in June 2023 at a valuation of $250 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rebranding Everclear as part of a strategic turn is blockchain interoperability platform Connext. Apart from the renaming, the initiative is creating a “clearing layer” for intent-based bridges, therefore addressing issues related to the rebalancing and settling of intentions. Using an open network of intent solvers and the Everclear chain, an optimistic roll-up of Everclear will<\/p>\n","protected":false},"author":6,"featured_media":21913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6603,6604],"class_list":["post-21912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-connext","tag-everclear"],"yoast_head":"\nConnext Rebrands as Everclear, Aims for Innovation - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Connext rebrands as Everclear, introducing a clearing layer for intent-based bridges. 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