What’s Convergence (CONV)

The hole between conventional and trendy finance is narrowing, bridged by the innovation in blockchain expertise and decentralised finance (DeFi) that takes place on daily basis. Personal property are getting digitised, and authorized possession rights are redefined with utility tokens that profit from excessive liquidity and artistic composability. 

The Convergence Protocol is a pioneer in making non-public property interchangeable within the DeFi house by fractionalising them with an easy-to-use interface and composable with different DeFi protocols. This permits originators to reap the benefits of deep DeFi liquidity, whereas DeFi customers can entry non-public publicity unavailable to them earlier than.

We’re pleased to announce that we’re going to conduct a Convergence Staking Airdrop. Learn extra concerning the marketing campaign right here.

Convergence (CONV)

The Convergence Protocol goals to resolve clients’ issues by creating a sturdy DeFi ecosystem to supply entry to high quality initiatives and Preliminary Dex Choices (IDO) in a safe and compliant surroundings, utilising infrastructure constructed on its native CONV tokens. It permits cross-chain compatibility to maximise liquidity throughout totally different chains so customers can work together with initiatives and transact past the ERC20 normal.

How does Convergence work

The product suite of Convergence Finance consists of 4 important elements (ConvO “Convergence Providing”, ConvX “Convergence Swap”, ConvPool “Convergence Pool”, and ConvDAO “Convergence Decentralised Autonomous Organisation”) and is out there on Ethereum and Moonbeam Community.

• The ConvO platform goals to supply funding alternatives which might be historically inaccessible to retail buyers, comparable to crypto initiatives which might be within the incubation stage and personal gross sales of current outstanding initiatives at a reduced value. 
• ConvX and ConvPool, in flip, carry out value discovery and buying and selling for distinctive property and introduce them, or converge them, into the world of DeFi.

• ConvDAO and Asset Council are supposed to behave as protocol governance and decision-maker to resolve on the brand new asset providing and Convergence Protocol growth. 

Aiming to resolve the issue of low throughput and excessive transaction charges within the Ethereum community, Convergence constructed its merchandise with EVM-compatible options and different native chains comparable to Moonbeam and Solana. The upper transaction throughput and quicker block time of the choice blockchains make value oracle updates synchronise in real-time and mitigate the front-running danger in ConvX. On high of this, this cross-chain ecosystem deepens the whole liquidity and extends Convergence’s consumer base within the DeFi universe.

In the long run, Convergence Finance will proceed to tokenise as many property as potential and democratise them to DeFi customers. By combining non-public property with the liquidity, automation and transparency options of DeFi, the Convergence Protocol synthesises the worlds of conventional finance and DeFi.

Why is Convergence distinctive

Many non-public property, together with pre-IDO tokens, non-public sale tokens, NFTs, and different historically hard-to-access property are illiquid. Convergence’s purpose on this state of affairs is to deliver or ‘converge’ these non-public property with DeFi liquidity. 

The Convergence crew has a imaginative and prescient that each asset homeowners and DeFi customers can entry the benefits of DeFi liquidity. The Convergence Protocol goals to enhance the effectivity of liquidity and capital utilization. Asset holders can acquire extra publicity to fundraising, enhance buying and selling quantity, liquidity and value discovery by wrapping their property on a blockchain (the wrapped property will be traded on Convergence AMM). 

Furthermore, particular person buyers can have entry to property that haven’t been out there to them earlier than: for instance, funding alternatives of pre-IDO tokens that haven’t been publicly listed on the exchanges from the non-public vested tokens’ buyers. By means of Convergence choices (ConvO) and Convergence Swap (ConvX), DeFi customers can commerce the token property on the Convergence Protocol.

What’s CONV token

CONV is a multi-utility token used because the medium of trade between members on the Convergence Protocol. In holding CONV, holders and stakers could make use of the totally different points of the Convergence ecosystem. As an entry token, CONV entitles customers to sure unique privileges inside the protocol. Relying on the quantities staked, customers are categorised into totally different tiers and granted a unique set of privileges to utilise the protocol.

Convergence Protocol itself is a blockchain protocol which, by design, doesn’t provide any assets for utilisation. So to supply customers quick access to CONV and for the mission to run effectively, customers must be incentivised to play the position of liquidity suppliers and stake their digital asset pairs into liquidity swimming pools to supply the mandatory liquidity for transactions. As compensation for alternative value, these liquidity suppliers that assist promote adoption will probably be rewarded with CONV, in keeping with every consumer’s relative contribution after numerous adjustment and correction parameters.

Apart from, CONV tokens empower holders to create and vote on on-chain governance proposals to find out future options and parameters of Convergence Protocol (e.g. voting on new property, itemizing on exchanges, and any liquidity thresholds to be maintained). 

Final however not least, because the native protocol token, CONV could also be used as a fundamental unit of account for peer-to-peer (P2P) transactions, settlement of cross-chain trades and kickstart the AMM expertise on EVM suitable AMMs. 

Convergence Tokenonomics and Provide

Convergence Roadmap

Q1 2022 

• ConvX & ConvPool on Moonbeam; 
• Yield-Farming of CONV on Moonbeam; 
• ConvO on Moonbeam with ƒLUNA private-sale; 
• Discord server roles.

Q2 2022

• Premium Convergers Program launch; 
• Biconomy Buying and selling Competitors.

Q3 2022

• ConvO on Moonbeam with ƒGLMR private-sale; 
• Subgraph Migration from Ethereum to The Graph’s mainnet; 
• Bitfinex Trade Itemizing.

This fall 2022 

• ConvDAO and Asset Council arrange; 
• ConvO 2.0 improve; 
• Personal-sale token choices.

Convergence Crew

The Convergence core crew presently primarily based in Hong Kong consists of greater than 20 folks. It’s led by two mission co-founders, Oscar Yeung and Ivan Yeung.

Oscar Yeung — Co-Founder — brings his experience in tokenisation to the world of DeFi. He’s additionally an lively investor within the enterprise capital and personal fairness house. Spending time in conventional finance and now shifting into DeFi, he has skilled each the innovation and limitations of safety tokens and now sees the expansion and demand for real-world property within the DeFi.

Ivan Yeung — Co-Founder — is answerable for the product progress and growth of the protocol. He has a robust background in Safety Token Choices, good contract growth and blockchain information. He developed his software program product information from his time at an autonomous driving simulation startup, the place he began the primary driving simulator centre within the metropolis. 

Convergence Companions

• Celer Community
• 1Inch
• The Graph
• Chainlink
• Biconomy
• Cere Community
• Moonbeam
• Ellipti
• Masks Community
• Hex Belief
• Certik