# What is CLEAR

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This document is currently subject to review before being finalized. If you notice a revision that needs to be made or have feedback, please [request a revision](https://github.com/connext/gitbook-docs/issues/new) or start a conversation with us on Discord at <https://discord.com/invite/everclear>
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CLEAR is the new [DAO-approved](https://snapshot.box/#/s:dao.connext.eth/proposal/0x92aaead8d6231df3ea56d88bc8396b59c8aec6a9a07e8489f1be52664318279f) governance and utility token of Everclear, replacing NEXT through a 1:1 migration. CLEAR is deployed as an [xERC20](https://xerc20.com/) (crosschain native) token. Learn more about the migration process.

## How is CLEAR used?

CLEAR serves multiple functions within the Everclear ecosystem:

### Governance

CLEAR holders can participate in governing the Everclear DAO, which is responsible for allocating funding for the ongoing development of the protocol.

### Staking and Fee Sharing

Holders can stake CLEAR to participate in protocol governance and earn a share of protocol fees. Through the vote-bonding mechanism, stakers help direct incentives to where liquidity is needed most in the ecosystem. Learn more about tokenomics.

## Mainnet Token Deployments

The CLEAR token is located at [0x58b9cB810A68a7f3e1E4f8Cb45D1B9B3c79705E8](https://etherscan.io/address/0x58b9cB810A68a7f3e1E4f8Cb45D1B9B3c79705E8) across all supported chains.

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### DISCLAIMERS

*THIS IS FOR INFORMATIONAL PURPOSES ONLY AND YOU SHOULD NOT RELY ON THE CONTENT HEREIN FOR ADVICE OF ANY KIND, INCLUDING LEGAL, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVICE, AND SUCH CONTENT IS NOT A SUBSTITUTE FOR ADVICE FROM A QUALIFIED PROFESSIONAL OR YOUR OWN RESEARCH. EVERCLEAR FOUNDATION AND ITS SUBSIDIARIES MAKE NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. ANY INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE.*

*NO PARTY HAS REQUESTED ANY RULINGS OR LEGAL OPINIONS ON THE TAX CONSEQUENCES OF THE NEXT→CLEAR TOKEN UPGRADE AND WHETHER SUCH AN UPGRADE MAY CONSTITUTE A TAXABLE TRANSACTION. THE TAX CONSEQUENCES OF THE UPGRADE MAY VARY BASED ON EACH NEXT HOLDER'S CIRCUMSTANCES, INCLUDING THE TAX RESIDENCE OF THE HOLDER AND THE PARTICULAR UPGRADE PATH USED FOR SUCH HOLDER'S NEXT (AUTOMATIC UPGRADE ON L2S VS. MANUAL LOCKBOX DEPOSIT ON L1). EACH NEXT HOLDER IS URGED TO CONSULT WITH, AND MUST RELY SOLELY ON, THE ADVICE OF THEIR OWN TAX ADVISORS REGARDING THE TAX CONSEQUENCES OF THE UPGRADE AND THEIR PARTICIPATION IN IT.*
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