Everclear and ZERO Network Shut Down Amid DeFi Closures

Everclear and ZERO Network announced this week they will shut down after failing to find sustainable paths forward. Everclear attributed the closure to weak revenue and delays in onboarding business partners. ZERO plans to redeploy its team and technology into Zerion’s wallet and data API and has disabled bridging into the network.

Everclear built a solver for rebalancing cross-chain funds and reported monthly on-chain volume around $500 million. The team wrote that trading activity did not translate into reliable revenue. Over the past six months Everclear shifted toward a business-to-business-to-consumer model, signed several major partners and noted partner integrations took longer than expected, exhausting the company’s runway before those deals went live.

Everclear wrote: “If funds remain after all liabilities are settled, we are exploring a buyback of existing tokens — the sum of the buy back’s potential sum might be in the range of $50–200k. We will share full details and mechanics before anything is finalized. The buyback is not certain.”

ZERO framed its closure as a refocus on Zerion’s wallet and its data API. The team disabled inbound bridging and set July 31 as the deadline for bridging out to allow users to withdraw assets. A statement added, “The vision we set out to build hasn’t changed. How we deliver it is evolving. The team, the talent, and everything we learned from ZERϴ is being channeled into building the best wallet and data API experience in crypto, across every chain.”

The announcements come amid a wider downturn for crypto firms. Syndicate Labs wound down on May 21 after five years of operation. Fantasy.top said it will close at the end of June after two years. The closures have affected both infrastructure and consumer-facing projects.

Both projects outlined next steps for users and token holders. Everclear did not publish a detailed wind-down timetable beyond settling liabilities and the potential token buyback if funds remain. ZERO provided the July 31 bridge-out date and noted its personnel and technology will be redeployed to Zerion’s wallet and API. Any recoveries for token holders will depend on remaining balances after liabilities are paid.