TechFlow reports that Everclear (formerly Connext), an intent-based cross-chain bridging settlement layer, has published a token upgrade proposal on its governance forum to upgrade its native token from NEXT to CLEAR, introducing a vote-locked system specifically designed for the settlement protocol.
The new system will allow users to lock CLEAR for up to two years to receive non-transferable vbCLEAR, which can be used for voting and sharing in system revenues. Unlike traditional ve-tokens, vbCLEAR can be unlocked early but requires an exit fee.
This mechanism aims to incentivize solvers and intent protocols to participate, increasing transaction volume through the settlement layer.
The new system also introduces a rewards distribution model based on settlement volume, avoiding the issue of large holders monopolizing rewards seen in traditional DeFi projects.
The proposal is currently open for community feedback, and further simulation testing and development are required before final implementation.
Previous report: Connext rebranded to Everclear, introducing the first settlement layer to address modularity fragmentation.
