Convergence

<p>Happy 2022 Convergers! Hope everyone is staying safe and healthy despite the covid variant outbreak. With the crypto market reacting to the Fed news and general risk-off sentiments, in times like these, the Convergence Team is focused on building and further extending our product suites! We would like to share a quick update on what we have planned for Q1.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/766b3b692b854844af4a37e916aad6bd.jpg">
<p>Convergence aims to democratize investment by making private markets public and enable cross-chain compatibility to maximize liquidity across different chains so users can transact beyond the Ethereum ERC20 standard.</p>
<h2 id="header-0">Cross-Chain Compatibility with Moonriver and Moonbeam</h2>
<p>Convergence Finance aims to build a cross-chain ecosystem to deepen swap pool liquidity and extend the user base in the DeFi community. With the launch of <strong>Moonlit</strong>, <strong>AMM on</strong> <strong>Moonriver Network (Kusama’s EVM Chain)</strong>, we have managed to bring &gt;800K USD liquidity to the Moonriver Ecosystem while partnering with other Moonriver projects like PolkaPets and Zoombies World. Convergers got to experience the high transaction throughput and low gas costs on Moonriver while transacting on Moonlit. In Q1, we would be issuing $MLIT tokens and launching $MLIT single-sided staking pools, alongside with launching additional yield-farming pools with other Moonriver projects.</p>
<p>With the latest Moonbeam Mainnet deployment on Polkadot, the team has accelerated the development of <strong>Convergence DApp on Moonbeam Network</strong>. Convergers can expect to see ConvX and ConvPool supporting Moonbeam Network soon — with the ease of switching the network from Ethereum to Moonbeam on the same Convergence DApp to enjoy the fast confirmation and low transaction costs.</p>
<p>We listen closely to the community feedback with the latest Polygon $MATIC offering and we will also be supporting ConvO on Moonbeam Network — stay tuned for our next ConvO offering on Moonbeam.</p>
<h2 id="header-1">Cross-Chain Bridging Solution</h2>
<p>To smoothen the end-to-end user experience of moving assets across different Blockchain networks, in the beginning of Convergence DApp deployment on Moonbeam Network, we will be <strong>partnering with a prominent bridging solution provider</strong> to avail this service to Convergers, partnership details to be shared.</p>
<p>With Moonlit, the original plan was to launch Moonlit Bridge to enable asset transfer between Ethereum and Moonriver Network. However, as times go by and there has not been any official stablecoin contract deployment on Moonriver Network, the team has weighed carefully and decided not to support a vendor lock-in bridge natively on the Moonlit UI. For now, Moonlit utilizes the Anyswap token standards in terms of token pairings. We will resume the development based on demand and the growth of the Moonlit ecosystem.</p>
<h2 id="header-2">Alternative Private-Sale Token Offerings</h2>
<p>Apart from private-sale tokens of early crypto projects in incubation stage, Convergence Team is constantly seeking exclusive investment opportunities for our users. With the latest Polygon $MATIC private sale, we managed to offer $MATIC in the form of 𝑓MATIC at a premium price that’s 50% off the market price to Convergers. We understand that the expensive ETH gas fees make the offering less appealing which is why our <strong>next offering will be on Moonbeam Network</strong>.</p>
<p>We will continue to line up new quality private-sale offerings in compliance to the changing regulatory landscape and market movements in the Blockchain space. One of the pain points with new project listing on ConvO is the tradeoff between quantity VS quality, we are considering launching Asset Council first as the phase 1 of ConvDAO so that Convergers can play a part to vote on whether a project should be listed on ConvO or not.</p>
<h2 id="header-3">Premium Convergers Program</h2>
<p>Convergence Finance appreciates our project supporters and token holders that stay with us through thick and thin. We will be launching a new <strong>CONV holders premium membership program</strong> to reward users in addition to the current CONV rewards through staking pools. This premium membership program will be launched after all the Convergence DApp suites are supported on Moonbeam, as we would like to develop a cross-chain friendly membership program.</p>
<p>Premium Convergers will share the rewards not just generated by Convergence DApps on Ethereum, but also rewards from Moonlit and Convergence on Moonbeam — and of course, a higher chance of winning a Premium spot on ConvO.</p>
<h2 id="header-4">ConvDAO and Asset Council Update</h2>
<p>The development timeline for ConvDAO is postponed since Moonbeam development has taken a higher priority. A centralized development would be much more effective before the implementation of a protocol-level DAO. Hence, ConvDAO would be delayed to Q3 and the team is considering launching Asset Council in Q2 first so Convergers can vote on whether a project should be listed on ConvO or not for a decentralized listing decision.</p>
<p>Our cross-chain exploration would not stop with the Dotsama (Polkadot &amp; Kusama) ecosystem, the Convergence Team will work to strengthen our current product offerings and continue to explore other EVM or L1 chains to expand our cross-chain compatibility while bringing more private investments and innovative solutions to Convergers.</p>
<p>We will be organizing another AMA soon so the community can share their feedback directly with our founding team. Stay tuned for our upcoming product updates and stay safe!</p>

Convergence Finance Product Spotlight and Roadmap — Q1 2022

Table of Contents

Convergence

Other articles published on Jan 13, 2022

Join our free newsletter for daily crypto updates!