Mantle Teams Up with Everclear for Smooth Cross-Chain Asset Settlement

The challenge of fragmented liquidity across different forms of the same asset is a key issue for multi-chain decentralized finance. This collaboration aims to address this problem effectively.

Key Takeaways

Mantle and Everclear have partnered to tackle liquidity fragmentation in decentralized finance.
Their collaboration enables seamless cross-chain asset settlement and provides users with easy access to Mantle's ecosystem.
Everclear's infrastructure enhances transaction efficiency and cost-effectiveness, allowing quick conversions between asset forms.
This partnership signifies a move towards simplified, chain-abstracted finance, beneficial for both retail and institutional users.
The mETH protocol adds significant value to Mantle's ecosystem, driving liquidity and yield opportunities within decentralized finance platforms.

Mantle Partners With Everclear to Enable Seamless Cross-Chain Asset Settlement

Addressing Fragmentation through Cross-Chain Settlement

As blockchain ecosystems expand, assets like ETH and USD are available in many forms, such as wETH, mETH, and stETH, along with an increasing variety of stablecoins. Everclear's innovative clearing and settlement infrastructure tackles these fragmentation issues by facilitating cross-chain transactions and automatically managing inventory rebalancing. This process helps reduce liquidity duplication and lowers costs.

With this new integration, users can access Mantle using their existing assets, while Everclear manages the necessary settlement and rebalancing behind the scenes.

Quick and Efficient: Converting wETH to mETH

Users who hold wETH on compatible chains can easily select Mantle as their destination and receive mETH in a single transaction that typically takes under a minute.

Everclear's robust infrastructure efficiently processes user transactions while simultaneously netting and rebalancing cross-chain flows to maintain inventory with minimal costs. This results in better pricing, zero slippage, and swift execution.

Capital-Efficient Access to Mantle's Ecosystem

By starting with mETH, this partnership allows users to access the Mantle ecosystem without the hassle of manually bridging or trading assets, a common challenge for both novice and experienced individuals alike.

Key Benefits of this Partnership

This relationship positions Mantle as the first launch partner in Everclear's expansive cross-asset settlement project. Future plans include support for additional ETH-based assets, stablecoins, and new chains.

This partnership reflects a broader industry trend towards chain-abstracted finance, enabling users to interact with assets and applications without the complexities of bridges, liquidity pools, or fragmented representations.

Mantle serves as a prime distribution layer and access point for institutions and traditional financial entities to engage with on-chain liquidity and gain access to tangible assets. This facilitates the movement of real-world financing.

To promote widespread adoption, Mantle successfully combines credibility, liquidity, and scalability with institutional-grade infrastructure. The community holds assets totaling over $4 billion, supported by $MNT within Bybit, and further bolstered by essential ecosystem projects such as mETH, fBTC, MI4, and more. Mantle Network has also formed partnerships with notable issuers and protocols like Ethena USDe, Ondo USDY, and OP-Succinct.

Everclear, formerly known as Connext, is a protocol focused on cross-chain settlement and liquidity rebalancing for professional users, including market makers, solvers, bridges, and exchanges. As a B2B clearing and settlement layer, Everclear operates efficiently, empowering significant partners including Across, Relay, LI.FI, and Eco. It manages approximately $400 million in monthly volume across top-tier assets and stablecoins.

Everclear has recently launched its Crosschain Asset Settlement offering, providing partners with tailored interoperability solutions, such as white-label cross-chain deposits, staking, and custom flows. These options allow partners to effectively attract customers and liquidity from diverse business segments.

Developed within Mantle's ecosystem, the mETH protocol functions as a comprehensive liquid staking and restaking protocol, bridging DeFi composability with institutional-grade ETH yield access. The mETH Protocol is supported by major validator and custodian partners, including P2P, Kraken Staked, OSL, and Copper, boasting an impressive total value locked (TVL) of $2.19 billion in its inaugural year. It's embedded in treasury frameworks for decentralized autonomous organizations (DAOs) and corporations, serving as a vital liquidity and yield layer across over forty leading decentralized finance platforms, including Bybit and Ethena.