On 25th January 2025, Rhino.Fi partnered with Everclear to efficiently rebalance their solver capital after filling users transactions on the rhino.fi bridge.
The results of this partnership speak for themselves: $12.9 million in transaction volume within just five weeks, with average transaction sizes of $250,000 settled in minutes rather than days.
This case study explores how Everclear's Clearing Layer technology transformed rhino.fi's bridging capabilities, reducing rebalancing costs by 97% and powering expansion to more chains.
Background
The Cross Chain Rebalancing Challenge
Bridging via a solver provides great UX for users but presents significant operational challenges for protocols like rhino.fi because of the need to rebalance inventory.
Rebalancing means having to navigate:
- Lengthy Capital Lockups: Native bridges can take anywhere from 8 hours to 7 days, locking up solver liquidity and causing missed opportunities.
- Prohibitive Costs: High gas fees and processing costs make smaller transactions uneconomical. This is particularly true for routes that involve Ethereum mainnet: transactions can easily cost $20+ which ruins the economics for small transactoins.
- Technical Complexity: Supporting rebalancing between multiple chains and routes means building and maintaining technical integrations to a growing list of bridges, CEXs, and aggregators.
- Operational Overhead: Managing inventory of liquidity across multiple networks is operationally intensive, often requiring dedicated staff.
Rhino.Fi needed a solution to rebalancing that could handle large transaction volumes efficiently while supporting a growing number of chains and asset pathways without compromising on security.
Everclear's Clearing Layer
Everclear's Clearing Layer coordinates the global netting and settlement of liquidity between chains. Everclear addresses liquidity fragmentation for intent protocols, market makers, CEXs, and other institutional actors by operating a liquidity marketplace L2 that nets off and auctions interchain flows.
Everclear is additionally able to expand to new chains rapidly, adding 12 new chains over February alone (Unichain, Taiko, Blast, ZkSync, Ronin, Zircuit, Linea, etc.) in response to rhino and other users’ needs.
Impact and Results
Within just five weeks of the integration, rhino.fi achieved remarkable results:
Transaction Volume and Efficiency
- Over 8 chains
- $12.9 million in cross chain volume
- Over 52 individual transactions
- With a $250,000 average transaction size
Cost Reduction
With Everclear, Rhino achieved a 96% total cost reduction in rebalancing!
- Rhino paid a total of $1,752.37 to rebalance over the case study.
- We estimate the team would have paid $82,316 to do the same rebalancing flows on other bridges.
- Rhino achieved their greatest cost savings on underserved pathways where few liquid alternatives exist, such as Blast->Ethereum(WETH) and Base->Ethereum(USDT).
Settlement Speed
While Everclear was more expensive than canonical bridges (0 cost), it provided remarkably shorter settlement times, freeing up capital to be reused in Rhino's system.
- 30 minutes median settlement time with Everclear vs 8 hours to 7 days with native bridges
- Up to 15x faster settlements on critical routes
Key Technical Advantages
Netting Technology
The core of Everclear's efficiency lies in its netting technology. When multiple solvers are moving assets in opposite directions (e.g., ETH from Ethereum to Base and ETH from Base to Ethereum), Everclear's Clearing Layer identifies and nets these flows, dramatically reducing the actual assets that need to be bridged.
This approach:
- Reduces gas fees by minimizing on-chain transactions
- Increases capital efficiency
- Enables faster settlements without sacrificing security
- Creates a more sustainable economic model for cross chain operations
Overflow Handling
For volumes that cannot be netted, Everclear leverages a network of market makers to handle overflow, ensuring consistent liquidity even during periods of imbalanced flows. This hybrid approach combines the efficiency of netting with the reliability of active market making.
Security and Reliability
Despite handling large individual transactions averaging $250,000, Everclear's solution maintained 100% uptime and security throughout the integration period, processing all transactions without incidents.
Feedback from rhino.fi
Technical Implementation Details
rhino.fi's integration leveraged Everclear's bridging UI, which connects to the underlying Clearing Layer infrastructure. This integration required minimal technical resources and maintenance from rhino.fi, while delivering substantial benefits:
- Comprehensive Chain Support: The integration immediately enabled support for multiple chains without additional development work
- Seamless User Experience: Users select their origin chain, destination chain, and asset, with all complexity handled behind the scenes
- Automated Settlement: Everclear's infrastructure handles all settlement logic, allowing rhino.fi to focus on their core business
A deeper integration into the Everclear API to automate these flows is in the works!
Future Opportunities
With the success of the initial integration, several expansion opportunities are being explored:
- Additional Chain Support: Expanding to non-EVM chains and other L2s
- Further settlement improvements: Improving settlement times and ability to facilitate peak demand
Conclusion
The partnership between rhino.fi and Everclear demonstrates the transformative potential of the Clearing Layer in the crosschain space. By drastically reducing costs and settlement times while supporting a wide range of chains, Everclear has helped rhino.fi enhance their user experience.
As the blockchain ecosystem continues to fragment across hundreds of chains, solutions like Everclear's Clearing Layer will be essential for maintaining liquidity efficiency and delivering seamless user experiences.
About Everclear
Everclear coordinates the global settlement of liquidity between chains, solving fragmentation for modular blockchains. As the first Clearing Layer, Everclear is the foundation of the Chain Abstraction stack, powering optimal liquidity settlement for intent protocols and solvers.
