Everclear
Networks · InteroperabilityLow Volume
Question
A narrative description of the purpose of the project and its operation in layman's terms is provided.
Response
Everclear is the cross-chain clearing and settlement protocol that solves liquidity fragmentation for blockchains and digital assets.
Question
A narrative description of the Project's primary sources of revenue is provided, broken out by entity (e.g. Foundation, Labs, DAOs, or other).
Response
Everclear’s DAO earns its primary revenue from onchain fees, charging a variable fee on each intent depending on the route. After deducting infra costs (gas, Gelato(relayer) and messaging) costs, residual net fees go to buyback (Link to the approved DAOproposal).
Question
The Project must clearly disclose the rights, value accrual mechanisms, and distinctions between token holders and DevCo equity holders. Any value allocated specifically to equity holders (e.g., dividends, profit-sharing) must be communicated separately from value accruing to token holders.
Response
CLEAR tokenholders govern the Everclear protocol via the vote-bonding (vbCLEAR) mechanism. By staking CLEAR, they earn yield from protocol fees and direct incentive emissions to specific chains, playing a central role in shaping cross-chain liquidity growth. Value accrues to tokenholders through these governance rights and rewards. The Everclear Foundation is a shareholderless, non-profit foundation incorporated in the Cayman Islands. It holds the IP and core assets of the Everclear protocol and coordinates the DAO’s public governance and treasury processes. The Foundation does not distribute any cash flows or value to private shareholders or individuals. Connext Labs is a for-profit R&D company and a core contributor to Everclear. Labs previously developed the predecessor protocol, Connext Bridge, and transferred its IP and tokens to the Foundation before Everclear’s TGE. Since then, Labs has operated under a market-rate service agreement with the Foundation (validated by an independent appraiser), providing technical services at cost + 8% markup. While Labs holds CLEAR tokens as part of its contributor compensation, no protocol fees, DAO-controlled funds, or treasury cash flows will not accrue to Connext Labs equity holders. Any dividends or profit-sharing by Labs are funded solely from its service revenue and will not intersect with CLEAR tokenholder rights. This structure ensures a clear separation between value accruing to tokenholders (via protocol governance and staking rewards) and value accruing to equity holders of private entities like Labs.
Question
If core team members are compensated by any Tokens allocated to the Foundation through advisory services or similar agreements, or by any other payment method (i.e. fiat), these payments must be disclosed. Note, foundation team members known and exclusively compensated by the Foundation are excluded.
Response
The Connext Foundation is a shareholderless, independent entity incorporated in the Cayman Islands. It holds protocol IP and oversees Everclear DAO’s operations, funding Core Contributors, contractors, and service providers through off-chain agreements. These payments are disclosed in aggregate to the DAO as part of routine financial reporting. On average, the Foundation processes $150,000–$190,000 per month in payments to Core Contributors, R&D teams, and infrastructure providers. Key vendors include:
Question
The identities of key team members (e.g., founders, CEO, CTO, COO of Labs, President of Foundation, etc.) are publicly disclosed.
Response
Everclear is a successor of the Connext Bridge. Founding team behind Connext was Arjun Bhuptani, Layne Haber and Rahul Sethuram(Linkedin).
Question
The Project must provide publicly accessible documentation covering the Token's governance rights, rights to value accrual, any additional utility, and the mechanism by which token governance is implemented (e.g. an insider multi-sig).
Response
Everclear provides publicly accessible documentation covering the CLEAR token’s governance rights, value accrual mechanisms, utility, and DAO governance structure at dao-docs.everclear.org.
Question
Disclosed information explaining the launch and initial supply that includes: the total number of tokens issued, the category of the recipient (team, investor, foundation, community), the total supply of the token and if it is capped, and the initial vesting schedule.
Response
CLEAR has a capped total supply of 1,000,000,000 tokens. The initial allocation breakdown is: Early Backers (Investors): 224,340,000 (22.4%) Ecosystem & Strategic Backers: 132,320,000 (13.2%) Team & Advisors: 177,220,000 (17.7%) Connext Labs (Proxima Labs): 28,120,000 (2.8%) Foundation: 85,560,000 (8.6%) DAO Treasury: 175,570,000 (17.6%) Airdrop: 76,720,000 (7.7%) Ecosystem Grants: 100,150,000 (10.0%) Team, backer, and strategic allocations (53% of total supply) were initially locked for 15 months post-TGE and unlock linearly over an 18-month schedule. Foundation, Labs, and DAO allocations remain non-circulating but may be used for grants, incentives, and operational funding according to the DAO’s governance process. Full details: https://dao-docs.everclear.org/clear/token-distribution-and-circulating-supply
Question
All Insider Token allocations (team, investor, foundation) must be transparent, per the disclosed Initial Allocation. If vesting occurs at a custodian, clearly disclose the employee categories and associated vesting schedules clearly in your documentation.
Response
All insider token allocations—including those to the team, advisors, and investors—are transparently disclosed in Everclear’s Token Distribution and Circulating Supplydocumentation. Management of these grants (vesting, settlement) is handled offchain for operational and tax compliance reasons.
Question
Addresses that hold any Unissued Tokens (e.g. foundation, future contributors, treasury) must be publicly labelled (address listed in docs) and be held in distinct wallets. This includes the foundation allocation. The party (e.g. team, foundation, DAO) that controls the funds must also be disclosed.
Response
Everclear’s unissued token allocations are held in publicly labeled, distinct wallets, and all addresses are controlled by the respective entities as detailed below. These wallets are used to manage token allocations, employee and contributor grants, and OTC transactions. Foundation SAFEs & Coinbase (Controlled by the Connext Foundation)
Question
The project must disclose all airdrop eligibility criteria clearly and provide a full CSV list of recipients, including addresses and amount received.
Response
Everclear (previously Connext) conducted the NEXT token airdrop based on a points-based eligibility system designed to reward early users and active contributors across the ecosystem. Eligibility Criteria Summary: Users could qualify by participating in any of the following activities before the cutoff date:
Question
Disclose information on insiders (Team, Investors, Foundation, Advisors) tokens that are locked and can earn rewards.
Response
Locked tokens could not be staked.
Question
The project commits that any future token issuance (e.g., minting or emissions outside scheduled vesting) will be publicly disclosed and justified on an official platform (e.g., governance forum, blog, or docs).
Response
There are no plans to launch any governance or protocol tokens which dilutes the economics of CLEAR. If one were to occur, it would need to occur through Everclear DAO governance and the Everclear DAO forum, as only Everclear DAO governance can enact the protocol changes to mint new tokens.
Question
The team discloses all tokens launched by its key team members in the past and explicitly lays out its philosophy around launching new tokens, related to the project or otherwise. (e.g. "We do not plan to launch additional tokens" or "Any additional tokens will be given 1:1 to existing token holders who can then vote on proposals submitted by the management team.")
Response
Core contributors do not plan to launch additional tokens. Core contributors are unaware of any key team members having previously launched tokens
Question
The project commits to disclosing any material Related Party & Insider Transaction within 30 days and includes: The nature of the transaction, the Related Person, the basis on which the person is a Related Person, and the number of tokens involved in the transaction. This includes tokens issued by the foundation.
Response
The Everclear project commits to disclosing related party transactions within 30 days.
Question
Disclosed information of previous fundraising rounds, material OTC rounds to investors, or discounted market maker sales involving the Project and its Token that includes: the date of sale, number of tokens sold, and the vesting schedule of these tokens. The Project commits to disclosing any material OTC deal involving token sales and purchases by the foundation within 30 days.
Response
April 2024: 20M CLEAR sold to Pantera Capital in at $0.25, fully unlocked, from Foundation treasury Announcement: https://panteracapital.com/blog-investing-in-everclear/
Question
Projects must disclose key details of market making and centralized exchange agreements affecting token liquidity, including: names of all market makers & centralized exchanges involved, the token allocation for each (as % of total supply), and the duration of each agreement.
Response
The primary source of CLEAR liquidity is the CLEAR/WETH Uniswap v3 pool, managed by Arrakis Finance as a Protocol Owned Liquidity (POL) position. This position is maintained by the DAO and is fully transparent and verifiable on-chain: https://dashboard.arrakis.finance/?network=ethereum&vault=0xfe2a079e068f78884a36a2adb4cb1712706822ae In addition, CLEAR is listed on several centralized exchanges, including Gate.io, MEXC, and Bitkub. These listings were conducted without any signed liquidity provision or market-making agreements. The Everclear DAO may explore formal liquidity partnerships or additional listings in the future, but no such agreements exist at this time.
Question
The Project commits to providing updates to token holders on a quarterly basis via forum posts, live dashboards, or reports that cover core project KPIs, changes to Token supply or allocations, and disclosure of top line revenue and expenses. The Project may engage third-party contractors to prepare and deliver these updates.
Response
Everclear commits to providing updates to token holders on a quarterly basis. Public analytics dashboard is available: https://explorer.everclear.org/analytics Quarterly updates are posted on X and TG Community group https://t.me/EverclearCommunity
Question
The foundation's assets or working capital are held onchain and publicly labelled, providing the ability to track asset holdings, revenue, and expenses. Or, the foundation publishes a quarterly, publicly available financial report of its assets, working capital, revenue and expenses.
Response
Everclear protocol fees are accumulated on these wallets:
This Token Transparency Filing is provided for general informational purposes only. Blockworks reviews completeness only and does not verify or warrant the accuracy of individual answers. Everclear is solely responsible for the content, accuracy, and legality of its disclosures.
