Exploring Innovations in Cross-Chain Intent Settlement Layer: Everclear's Solutions

In today's increasingly complex cryptocurrency ecosystem, the demand for cross-chain asset transfers is becoming more prominent. With the active development of numerous L1 public chains and the emergence of L2 scaling solutions, how to achieve efficient, low-cost, and permissionless cross-chain operations has become an urgent issue that needs to be addressed.

Currently, there are three main types of cross-chain bridges: custodial bridges, permissionless bridges, and intent bridges. Custodial bridges are fast and low-cost, but lack decentralization features. Permissionless bridges are fast but expensive. Intent bridges, while permissionless, tend to be slow due to the rebalancing process and do not significantly reduce costs.

In this context, Everclear has proposed an innovative clearing layer solution aimed at addressing various pain points in cross-chain transfers, including liquidity fragmentation, lack of standardization, and rebalancing costs.

Everclear has noticed that about 80% of funds in cross-chain transactions "flow back to the network" within 24 hours. Based on this observation, they have designed a mechanism to profit by exchanging liquidity across chains rather than directly bridging. For example, when two users need to swap $100 between Arbitrum and Polygon, the system can support them in directly transferring tokens locally, significantly reducing costs.

However, perfect matching situations are not common. To address this, Everclear has introduced a standardized contract system. Users can generate the "invoices" they intend, while market makers (Solvers) can "balance" these intentions with each other. If no one claims the invoice within a certain period, the system will initiate a Dutch auction mechanism, gradually lowering the price until someone accepts it.

This innovative approach brings significant benefits to various participants in blockchain, protocols, and market makers. It not only standardizes the cross-chain operation process but also creates a permissionless system that can aggregate order flows from various applications, providing market makers with more profit opportunities while supporting any blockchain that adopts this standard smart contract set.

Everclear has established partnerships with several partners, including aori, StaFi Protocol, Tokka Labs, Renzo, and Anera. These partners cover multiple fields such as rebalancers and liquid staking applications, further expanding the influence of the Everclear ecosystem.

As the first clearing layer to facilitate global settlement of coordinated cross-chain order flows, Everclear not only addresses the liquidity fragmentation issues of modular blockchains but also brings new possibilities to the entire cryptocurrency ecosystem. With its mainnet officially launched on September 18, we have reason to expect that Everclear will bring revolutionary changes to cross-chain operations, driving the entire industry towards more efficient and economical directions.