Convergence
Boosting yields across the CurveFinance ecosystem.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $1.8m | Seed | |
| Total Funding | 000k | ||
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Convergence Protocol is a decentralized finance (DeFi) platform that aims to merge real-world asset exposure with the liquidity available in the DeFi ecosystem. Launched in 2021, the project was established by a team with backgrounds in traditional finance, tokenization, and digital securities, founded on the belief that conventional finance and DeFi are increasingly intertwining.
The core of the business is a decentralized interchangeable assets protocol. It functions as an automated market maker (AMM) that facilitates the trading of real-world assets by representing them as Wrapped Security Tokens (WSTs). This mechanism allows DeFi users to gain exposure to assets that are typically difficult to access, such as shares in private or unicorn companies, by swapping utility tokens for these WSTs through the ConvergenceAMM. The protocol enables asset owners to tokenize their holdings and tap into the deep liquidity pools of the DeFi space, while investors can access new investment opportunities.
The business model is centered around its native utility token, CONV, which is used as the medium of exchange within the protocol. Transaction fees generated on the platform are partially distributed to stakers and liquidity providers in the form of CONV tokens. The protocol operates with a multi-chain compatibility approach, initially on Ethereum and later expanding to ecosystems like Moonriver and Moonbeam to enhance liquidity and reduce transaction costs. The platform's product suite includes ConvO for new offerings, ConvX which is the AMM for token swaps, and ConvPool for liquidity provision and staking rewards. Convergence has secured support from institutional investors, including Alameda Research, Hashed, OKX, and Pantera.
Keywords: decentralized finance, DeFi, real-world assets, asset tokenization, automated market maker, AMM, wrapped security tokens, private equity, DeFi liquidity, cross-chain protocol, CONV token, digital securities, crypto asset exchange, liquidity pools, staking rewards, blockchain finance, tokenized securities, investment democratization, private markets, unicorn investing