A Foundational Layer for Cross-chain Compatibility.
Clover: Easy-to-use Blockchain Infrastructure
Clover is a one-stop cross-chain DeFi bridge that provides a seamless gateway to DeFi for everyone including those who are completely new to DeFi.
Clover building a foundational layer to enable Gasless user interactions to simplify user experience for non-crypto users, reduce the development threshold for upper-layer applications, and provide a wide range of developer tools from identity-based scripting capabilities to built-in cross-chain interoperability.
The decentralized financial networks of today remain isolated in silos that cannot trustlessly communicate with each other and meaningfully exchange value. This led to some third party custodial services who make the overall ecosystem more centralized, taking away the essence of what blockchain is all about.
To achieve a new-level of interoperability, Clover created the model of built-in SPV chain simulation technology that allows seamless cross-chain communication and trustless two-ways pegs between Turing-complete blockchains.
All the communication between blockchains relayed through the Clover-native IPFS layer, stored and evaluated within the EVM context. Our SPV chain simulation technology is in-line with the Clover scripting layer, that can benefit third party dApp builders with easy-to-access opcode functionalities.
In addition to cross-chain communication we identify that today’s DeFi applications require a solid financial foundation, and donations from the community are generally insufficient to cover development expenses.
The Ethereum network for example, where the largest portion of dApps are deployed, directs the entire gas fee to miners. However, we strongly believe that dApp builders should be incentivized and benefit from making contributions to the ecosystem by receiving a part of the gas fee as passive income.
To achieve a sustainable development culture, in addition to building an EVM compatible infrastructure to easily migrate existing dApps onto Clover, we re-parameterized the gas distribution model to direct gas fees to both network maintainers and dApp builders.
Clover believe incentivizing third party developers and commons, boosts external dApp development which ultimately enlarges the Clover and Polkadot DeFi ecosystems altogether.
This is consistent with Clover’s properties of being a decentralized operating system which does not touch the inflation schedule or alter the scarcity of the CLV token, but effectively increases the security of smart contracts against bugs and software vulnerabilities by enabling external development to be properly funded.
Clover also identified that the concept of gas is unfamiliar to most non-technical users those with no prior exposure to blockchain, cryptocurrencies or DeFi applications. For example, people with no ETH in their wallet are unable to send transactions directly on EVM networks due to their lack of ability to pay for gas.
It’s no surprise that many Ethereum users complain about having ERC-20 tokens, but are unable to move them since they don’t have the base currency which is ETH, to pay for gas.
This forces new users to purchase ETH before they can start interacting with the network, which is a major hurdle in user onboarding and mass adoption for dApps.
To provide an overall frictionless user experience, Clover has redesigned feeconomics to allow relayers to act on behalf of the sender where they can cover gas price in the base currency, and receive compensation in the denominated asset.
The goal is for end-users to be able to seamlessly transact their tokens by covering the fee with the same token from the amount they transact, without depending on the base currency, ETH. Clover believe this makes the overall UX better at a significant margin.
Simplifying user experience can create the potential for a very exciting future in which Clover can grow and compete, and can reach its goal of becoming the best possible DeFi platform for all.