Everclear (formerly Connext) has rolled out a practical fix for one of DeFi’s thorniest problems: liquidity fragmentation. The interoperability protocol today launched cross-chain asset settlement on Mantle Network, enabling users to convert wrapped Ether (wETH) from major chains — Ethereum, Arbitrum, Base, and Polygon — directly into Mantle’s mETH token in under 60 seconds. Crucially, the integration bypasses traditional bridging entirely, marking a notable infrastructure milestone for decentralized finance.
Why it matters
As blockchains proliferate, identical assets proliferate into multiple, chain-specific representations. That fragmentation drives inefficiency, raises costs and friction, and turns off both retail and institutional users. Everclear’s clearing infrastructure addresses that by netting cross-chain flows and automatically rebalancing inventory, cutting redundant liquidity and operational overhead that would otherwise sit idle across networks.
How the settlement layer works
The process is intentionally simple for users. Holders of wETH on any supported chain choose Mantle as the destination. Everclear’s solver network immediately fills the intent, delivering mETH to the user’s wallet while handling settlement and rebalancing behind the scenes at optimized pricing. The result: near-instant execution, zero slippage and capital efficiency that conventional bridges struggle to match.
“Everclear was built to be the settlement layer for a fragmented, multi-asset future,” said Nikita Bulgakov of the Everclear Foundation. “By connecting different representations of the same asset, we enable partners like Mantle and mETH Protocol to offer a truly chain-abstracted experience to users.”
A boost for Mantle’s institutional push
Mantle has been building momentum as a liquidity hub, now anchoring over $4 billion in community-owned assets and positioning itself as a conduit for institutions seeking on-chain liquidity and real-world assets. Mantle’s mETH Protocol — its liquid staking flagship — reached a peak TVL of $2.19 billion and is integrated across 40+ major platforms including Bybit, Ethena and custody providers like P2P and Copper.
“Real-world usability of on-chain assets depends on efficient settlement across chains,” said Emily Bao, Key Advisor at Mantle. The Everclear tie-up removes onboarding friction and helps channel capital into Mantle’s ecosystem in a more scalable, institutional-grade way.
What’s next
Everclear already handles roughly $400 million in monthly volume across blue-chip assets and stablecoins and serves professional users such as market makers, solvers, bridges and exchanges. The Mantle launch is presented as the first step in a broader expansion: Everclear plans to extend settlement support to additional ETH-based assets, stablecoins and emerging networks.
Taken together, the integration underscores a shift toward chain-abstracted finance — where users and institutions interact with on-chain assets without wrestling with the underlying multi-chain complexity. For DeFi, it’s a practical step toward making cross-chain liquidity more usable and enterprise-ready.
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