Everclear, ZERO Network to cease operations amid DeFi downturn

Everclear and ZERO Network announced they will cease operations this week. Everclear pointed to weak commercial depth and delayed business-to-business-to-consumer partnerships. Zerion will fold ZERO into its wallet and API; incoming bridging is disabled and outgoing transfers are allowed until July 31.

Everclear built a solver to rebalance assets across multiple blockchains. The project reported about $500 million in monthly trading volume but reported that trading activity did not produce reliable revenue. Over the past six months the team shifted to a B2B2C model and signed several partners, but it underestimated partner onboarding timelines and ran out of runway before those integrations launched.

On funds and tokens, Everclear intends to settle liabilities and then evaluate options for any remaining assets. In its post the team 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.”

Zerion described ZERO’s closure as a strategic refocus. The company will move the ZERO team and technology into its wallet and data API. The bridge into ZERO is closed for incoming transfers; outgoing transfers will remain open until July 31 to allow users time to withdraw assets.

Zerion 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 follow several DeFi shutdowns in 2026. Syndicate Labs wound down on May 21. Fantasy.top said it will close at the end of June. The closures include both infrastructure projects and consumer-facing applications.

Everclear indicated it will provide further details on how it will settle obligations and any potential token actions. Zerion set the July 31 deadline for outgoing bridging and advised users to withdraw assets before that date.