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What is Convergence Finance (CONV)?
Convergence is founded on the background of an increasingly close relationship between traditional finance and DeFi. The team believes that the real asset world and traditional finance could benefit from DeFi and its massive liquidity, radical innovation, and creative composability. The DeFi space could also take advantage of these real assets and gain new investment opportunities that they've never had before.
Convergence Finance bridges these two worlds via Convergence Offering (ConvO) and Convergence AMM (ConvX). The protocol enables seamless interchange between wrapped real assets and utility tokens in DeFi. It's the first to make real-world assets interchangeable in the DeFi space by connecting asset-backed governance tokens with utility tokens on a single interface that is easy to use, adopt, and composable with other DeFi protocols.
The Convergence AMM token pool will enable users to execute counterparty-less token swaps between utility tokens and wrapped asset-backed governance tokens with minimal slippage, low gas fees on a platform with familiar user experience, and skill floor as popular existing AMMs such as Uniswap.
What makes Convergence Finance (CONV) unique?
Appetite for alternative investments has grown considerably in recent years, reaching a worldwide assets under management (AUM) value of around USD 13.4 trillion. Traditional assets account for over USD 102 trillion. Between 2005 and 2011, the AUM of alternative assets grew by 14.2% compared to just 1.9% for traditional assets.
Convergence protocol aims to provide liquidity to asset owners with tokenized pre-IPO, real estate, or even exotic assets exposure while providing new investing exposures to DeFi users. Offering Initial Decentralized Offerings (IDO), Automated Market Makers (AMM) specifically for both stakeholders.
For IDO, depending on the deal, a fixed portion of the tokens will be owned by Convergence to provide further liquidity in AMM. The rest will be allocated for the IDO. For AMM, Convergence protocol charges users a flat percentage of the fee for every trade that takes place on the platform and automatically sends it to a liquidity reserve. Whenever a liquidity provider decides they want to exit, they receive a portion of the total fees from the reserve relative to their staked amount in that pool.
What is Convergence Finance (CONV) roadmap?
Convergence Finance (CONV) revenue streams
How does Convergence Finance (CONV) work?
Convergence will be the first AMM to make private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables asset owners to take advantage of DeFi's liquidity, while DeFi users can access exotic real-world assets unavailable to them before. Convergence Finance combines the edge of a lowered investment entry barrier with the liquidity, automation, and transparency features of DeFi to bring real-world asset exposure to all DeFi users.
Convergence consists of four major modules: Convergence Offering (ConvX), Convergence AMM (ConvX), Convergence Pools, and ConvergenceDAO.
Convergence Offering (ConvO)
ConvO is a part of the Convergence dApps suite. The launchpad makes private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface. It enables asset owners to take advantage of DeFi's liquidity, while DeFi users can access exotic real-world assets unavailable to them before. Our offering platform aims to provide quality investments opportunities that are traditionally hard to access, such as private-sale tokens, private unicorn companies' shares, and fractionalized NFTs.
Convergence AMM (ConvX)
Convergence AMM enables trading of wrapped real assets 24/7 and real asset price discovery. The feature intelligently finds the best order routing from aggregated liquidity sources to give traders the best prices. It eliminates complexities and allows ease of access for retail investors, fund managers, and digital-native investors worldwide to freely provide liquidity and trade amongst the pools.
Convergence Pools give asset owners the flexibility to easily create and manage their market-making strategies. By creating their pools, asset owners can perform initial offerings alongside providing liquidity for further trading for DeFi users. It eliminates complexities and allows ease of access for retail investors, fund managers, and digital-native investors worldwide to freely provide liquidity and trade amongst the pools.
The purpose of setting up the ConvergenceDAO is to provide greater transparency and decentralization to Convergence Finance. CONV tokens holders will have governance rights to vote on various proposals. For example, the types of real-world assets to be included in Convergence AMM and utility tokens can be used to swap certain private assets. Users are the decision-makers on whether DOGE <> SpaceX can happen.
What technologies Convergence Finance (CONV) created and used?
Built on Ethereum and being EVM-compatible with other chains (ie. Binance Smart Chain, Moonbeam and more), Convergence AMM enables trading and real asset price discovery with Automated Market Maker.
React with the front end development React Native, the open-source mobile application framework to develop applications for Android, iOS and Web, by enabling developers to use React's framework along with native platform capabilities. Along with the Graph and GraphQL, the indexing protocol for organizing blockchain data and making it easily accessible with GraphQL.
What is Convergence Finance (CONV) marketing strategy?
The core marketing primarily revolved around promoting through social media platforms (Twitter, Telegram, Discord, and Medium) and making several grassroots efforts consisting of AMA's in popular TG groups with a large captive and certain geographical audiences. In addition, convergence has also engaged media agencies to promote its frequently published Medium "thought pieces" and other announcements.
Also, it has engaged several KOL's and influencers to help with promotion and community growth.
Convergence publishes weekly updates regarding development with an emphasis on partnerships, technology roadmap, and pipeline deals. Convergence is already on mainnet and performed its first asset offering, the pre-IDO of Lithium Finance. In the long run, the team believes that the increased liquidity and investor pool will cultivate an entirely different market - a true liquidity market for alternative investment.
What is Convergence Finance (CONV) tokenomics?