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Everclear to Wind Down Foundation and Products After Funding Runs Out

2026-05-23 16:41:18

Abstract generation in progress

Everclear said it will phase out its foundation, development company, and products after funding ran out, despite once reaching $500 million in monthly trading volume. The team said a six-month B2B push did not secure revenue before the project's funds were depleted. The protocol has been terminated, users and partners withdrew all remaining deposits, and the Everclear UI and chain are offline. The team said it is considering a $50,000–$200,000 token buyback if funds remain after debts, but nothing has been confirmed.

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