Mantle, the Ethereum Layer-2 solution, today announced a new collaboration with Everclear, introducing cross-chain asset settlement to the Mantle ecosystem. This partnership allows users to swap wETH from Ethereum, Arbitrum, Base, or Polygon directly into mETH on Mantle, without the friction of traditional bridging.
Addressing Liquidity Fragmentation
This integration tackles one of the most significant challenges in multi-chain Decentralized Finance (DeFi): the fragmentation of liquidity across various representations of the same asset. As blockchain ecosystems expand, assets like ETH and USD emerge in multiple forms, including wETH, mETH, stETH, and a growing array of stablecoins.
Everclear's clearing and settlement infrastructure aims to resolve this fragmentation by netting cross-chain flows and automatically rebalancing inventory. This process reduces redundant liquidity and ultimately lowers transaction costs for users.
Seamless User Experience
With the launch of this integration, users can now access Mantle directly using assets they already possess. Everclear manages the underlying settlement and rebalancing operations discreetly, ensuring a smooth experience.
Users who hold wETH on supported chains can now select Mantle as their destination and receive mETH on Mantle in a single transaction. This process is designed to be rapid, typically completing in under one minute.
Future Expansion and Industry Shift
Mantle is the inaugural launch partner for Everclear’s expanded cross-asset settlement initiative. Future plans for this initiative include support for additional ETH-based assets, stablecoins, and the integration of new blockchain chains.
This collaboration signifies a broader trend within the industry towards chain-abstracted finance. This paradigm shift aims to enable users to interact with assets and applications without the need to manage the complexities of bridges, liquidity pools, or dealing with fragmented asset representations.