Liquidity providers deposit funds into Everclear and receive transfer fees from users (supply-side fees).

Everclear is a cross-chain liquidity network that enables fully non-custodial transfers between EVM-compatible chains and L2 systems. Everclear was co-founded by  Arjun Bhuptani, Rahul Sethuram, and Layne Haber and launched in 2021.

Everclear team & investors own and govern the protocol. They do not currently take a cut of the total transfer fees paid by users (revenue).

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Everclear

# Everclear Transfer volume Methodology

## 1. Overview

Transfer volume measures the total USD value of assets transferred through Connext's cross-chain bridge protocol on a daily basis. This metric captures the aggregate volume flowing through both Connext V1 (the original version) and Amarok (V2) bridge implementations across multiple blockchain networks. The calculation aggregates transfer amounts from completed bridge transactions and converts them to USD using end-of-day price feeds.

## 2. Data sources

The calculation relies on several types of blockchain and external data sources:

- **V1 bridge events**: Parsed `TransactionManager_TransactionPrepared_event` logs from Ethereum, Arbitrum, Avalanche, BSC, Fantom, Gnosis, Optimism, and Polygon networks, along with similar events from V2 and V3 contract versions on some chains
- **V1 fulfillment validation**: Parsed `TransactionManager_TransactionFulfilled_event` logs from the same networks to create an allowlist ensuring only completed transactions are counted
- **Amarok bridge events**: Parsed `ConnextDiamond_XCalled_event` logs from Ethereum, Arbitrum, Optimism, Gnosis, BSC, and Polygon networks
- **End-of-day price feeds**: Token pricing data used for USD conversion of transfer amounts
- **Token metadata**: Information about token decimals and contract addresses for proper amount calculation
- **Chain mapping data**: Static mappings between domain IDs and chain names for Amarok transactions
- **NextToken mappings**: Static mappings between Connext's nextToken addresses and their underlying asset addresses for accurate pricing

## 3. Step-by-step calculation

### Component A: V1 bridge transfers

- **Purpose**: Extract and validate transfer volume from Connext V1 bridge transactions
- **Logic**: The system retrieves `TransactionManager_TransactionPrepared_event` logs from eight blockchain networks, capturing key transfer details including `sendingAssetId`, `receivingAssetId`, `sendingChainId`, `receivingChainId`, and `amount`. These prepared transactions are then filtered against an allowlist created from `TransactionManager_TransactionFulfilled_event` logs to ensure only completed bridge transactions are included in the volume calculation. The system handles null token addresses (representing native assets) by mapping them to their corresponding wrapped asset addresses: WETH for Ethereum/Arbitrum/Optimism, and WXDAI for Gnosis. Origin chain metadata is added by joining with chain ID mappings, and a standard fee tier of 0.0005 is applied to all V1 transactions
- **Key fields**: `transaction_id` for matching prepared and fulfilled events, `amount` for transfer volume, `sendingAssetId` and `receivingAssetId` for token addresses, `sendingChainId` and `receivingChainId` for cross-chain routing

### Component B: Amarok bridge transfers  

- **Purpose**: Extract transfer volume from Connext Amarok (V2) bridge transactions
- **Logic**: The system processes `ConnextDiamond_XCalled_event` logs from six blockchain networks, extracting transfer details including `originDomain`, `destinationDomain`, `asset`, `amount`, and `bridgedAmt`. Domain IDs are mapped to human-readable chain names using a static lookup table. A critical transformation involves replacing Connext's nextToken addresses with their underlying asset addresses using a predefined mapping table, ensuring accurate price lookup for volume calculation. The system applies the same 0.0005 fee tier used in V1 transactions
- **Key fields**: `amount` for gross transfer volume, `bridgedAmt` for net amount after fees, `asset` for token address, `originDomain` and `destinationDomain` for cross-chain routing

### Component C: Transfer unification

- **Purpose**: Combine V1 and Amarok transfers into a unified dataset for volume calculation  
- **Logic**: Both V1 and Amarok transfer datasets are merged using a union operation, with each record standardized to include timestamp truncated to day level, chain ID, token address, and transfer amount. V1 transfers are tracked using the destination chain (where funds are received), while Amarok transfers are tracked using the origin chain (where funds are sent). Each record is tagged with 'bridges' as the market sector and 'amm' as the business segment
- **Key fields**: `timestamp` truncated to day, `chain_id` for the relevant blockchain, `token_address` for the asset being transferred, `transfer_volume` for the amount

### Final aggregation

- **Combining components**: The unified transfer data from both V1 and Amarok implementations flows into a single bridge transfers table where each row represents a daily transfer amount for a specific token on a specific chain
- **Currency conversion**: Transfer amounts are converted to USD using end-of-day price feeds via the `convert_to_usd_and_correct_decimals` macro, which also adjusts for token decimal places to ensure accurate volume calculation
- **Time aggregation**: All timestamps are truncated to day boundaries, creating daily volume aggregates
- **Final calculation**: The final metric value represents the total daily USD volume of assets transferred through Connext's bridge infrastructure, with missing data points filled with zeros to ensure complete time series coverage

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value of assets moved across chains through a bridge.

EverclearCLEAR

Transfer volume

Transfer volume

Competitive landscape

Chain breakdown