Cross-Chain Intent Settlement Layer Everclear: Solving the Three Hard Dilemmas of Crypto Assets Cross-Chain Transfers

With the rapid development of the blockchain ecosystem, the number of L1 and L2 networks has exploded. This growth has led to an urgent need for cross-chain asset transfers to achieve value interconnectivity and improve user experience. However, current cross-chain solutions face a trilemma of speed, cost, and decentralization.

The Current Status of cross-chain Bridging

Currently, there are three main types of cross-chain bridges:

1. Custody Bridge: Achieved through centralized exchanges, it is fast and cost-effective, but lacks decentralized characteristics.

2. Permissionless bridges: such as Hyperlane, Portal, etc., are faster but more expensive. These bridges can be decentralized, relying on liquidity providers or trusted miners.

3. Intent Bridge: Highly decentralized, but due to the rebalancing mechanism, it is relatively slow and not cost-effective.

Everclear's Innovative Solutions

Everclear has proposed a new clearing layer concept aimed at addressing key issues in cross-chain transfers:

• Liquidity Fragmentation
• Standardization Missing
• High rebalancing costs

Through this innovative approach, Everclear is expected to significantly reduce the friction of cross-chain transfers, lower costs for developers and users, and simplify the overall user experience.

The Principle of Intent Settlement

Everclear has noticed that in cross-chain transactions, about 80% of the funds will "flow back" to the original network within 24 hours. Everclear leverages this characteristic to achieve cross-chain transfers by exchanging liquidity across chains rather than bridging directly.

For example, if a user on a certain platform needs to transfer 100 USD from chain A to chain B, while another user needs to transfer 100 USD from chain B to chain A, the platform can support both users to directly transfer tokens on their respective chains, avoiding the high costs of traditional bridging.

Core Advantages of Everclear

Everclear's innovation lies in solving the problem of perfect matching scarcity. It deploys standardized contracts on each chain, allowing users to generate "invoices" for cross-chain intentions, which market makers can "balance" these intentions with each other.

If no market maker executes a certain intention within a period of time, the system will initiate a Dutch auction mechanism, gradually lowering the price until a market maker accepts it. This mechanism ensures that all cross-chain intentions can ultimately be executed, while providing profit opportunities for market makers.

Earnings of Ecosystem Participants

Everclear's design allows all parties in the ecosystem to benefit:

• The blockchain network can quickly integrate standardized bridging solutions.
• The protocol can aggregate more order flow.
• Market makers have more opportunities to execute cross-chain intentions.

This standardized approach creates a decentralized system that can aggregate order flows from different applications, maximizing the profits of market makers and supporting any blockchain that adopts this standard smart contract.

Partners and Future Development

Everclear has established collaborations with multiple projects, including aori, StaFi Protocol, Tokka Labs, Renzo, and Anera. These collaborations will help improve the efficiency of the entire market, bringing users lower cross-chain transfer costs.

Everclear's mainnet officially launched on September 18, marking the beginning of a new era for the cross-chain intention settlement layer. This innovation is expected to bring groundbreaking liquidity solutions to the modular blockchain ecosystem, driving the entire Crypto Assets industry towards a more interconnected and efficient direction.