CLEAR token tanks 48% as Everclear winds down protocol, foundation and labs unit
The Block·
60-second summary
Everclear's CLEAR token plummets 48% as the team winds down its protocol, foundation, and labs unit due to insufficient commercial depth. Despite achieving $500 million in monthly volume, the project failed to establish a robust commercial presence. This decline highlights the challenges faced by decentralized finance (DeFi) projects in sustaining long-term viability.
Everclear achieved $500 million in monthly volume, but "never developed the commercial depth," the team said on Thursday.