TechFlow News — Cross-chain communication protocol Connext is undergoing a strategic transformation, rebranding as Everclear and introducing the first settlement layer to address modularity fragmentation.
The project aims to resolve intent-centric rebalancing and related challenges by providing a modular stack and a new Everclear chain. The testnet has already launched, with the mainnet expected to roll out in Q3 2024.
The project has also sold $5 million worth of Connext tokens to Pantera Capital to support the development of the settlement layer.
Everclear is additionally building a Rollup chain based on Arbitrum Orbit, designed to enable users to interact seamlessly with applications across any blockchain and asset.
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