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Everclear Launches Mainnet Beta as First DeFi Clearing Layer, Enabling Chain Abstraction

Sep 18, 2024, 02:28 PM

Everclear has launched its mainnet beta, marking a significant milestone as the first Clearing Layer in the decentralized finance (DeFi) space. This launch aims to coordinate the global settlement of liquidity between chains, dramatically reducing rebalancing costs for solvers and other actors. By introducing Chain Abstraction, Everclear addresses issues of chain and user fragmentation, enabling more efficient cross-chain applications. The mainnet beta is expected to power scalable Chain Abstraction and facilitate the development of modular blockchains. Several partners, including Synapse Protocol and Polymer Labs, have expressed their support for the project, highlighting its potential to drive down cross-chain costs and improve onchain economies. The performant solver infrastructure is set to turbocharge scaling for the next million rollups on Polymer, and projects can now create cross-chain apps powered by intents, benefiting CEXs and market makers.