Pantera Capital: Invested $5 million in Everclear to support its development of cross-chain settlement layer technology

ChainCatcher news, according to an official announcement, venture capital firm Pantera Capital has announced a $5 million investment in Everclear to support its development of cross-chain settlement layer technology.

It is reported that Everclear (formerly known as Connext) has been working since 2017 to solve the problem of asset transfer between blockchain networks. The company's latest settlement layer is a decentralized network designed to achieve settlement and purification of inter-chain liquidity through complex intent solutions and self-developed optimistic convolution technology, which is expected to reduce the cost and complexity of cross-chain transactions by five times.

In addition, Everclear's settlement layer supports custom settlement logic, allowing any blockchain to access seamlessly, promoting widespread growth of the network.