Convergence Protocol

About Convergence Protocol

{"time":1704989042000,"blocks":[{"data":{"level":6,"text":"Highlights"},"type":"header"},{"data":{"items":["Convergence Finance is the first project to make real asset exposure interchangeable within the DeFi Space.","It does this by connecting private asset exposure with utility tokens on a single interface that is easy to use, adopt, and composable with other DeFi Projects.","Convergence Finance is cross-chain compatible with Ethereum and Polkadot, with Moonbeam and more coming in the future."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Product"},"type":"header"},{"data":{"level":1,"text":"Convergence Finance typically brings private assets into DeFi by democratizing and widening investment opportunities limited only to institutional investors and venture capitalists."},"type":"header"},{"type":"paragraph","data":{"text":"This is done through three platforms. ConvO offers a platform for users to subscribe to new offerings.\r\nThen you have ConvX, which is the AMM pool for swapping tokens, and ConvPool, which is the liquidity and staking pool for earning trading fees and staking rewards.\r\n"}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/6dulacfm5ictg0umnm6tii1s783o","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/6dulacfm5ictg0umnm6tii1s783o"}}},{"data":{"level":6,"text":"Problem"},"type":"header"},{"data":{"level":1,"text":"There are difficulties and barriers for retails to tap into the market for investing in fast-growing and unicorn projects."},"type":"header"},{"type":"paragraph","data":{"text":"Investing in the early stage for the fast growing and unicorn projects, as well as high-valued NFTs are typically reserved for institutional investors and family offices only. Retails rarely have a chance to tap into this space due to the investment gateway and their capital limitation."}},{"data":{"level":6,"text":"Solution"},"type":"header"},{"data":{"level":1,"text":"Through Convergence, private asset owners can wrap their assets on-chain as the \"private sales tokens\" and unveil this investment opportunity in the DeFi space."},"type":"header"},{"type":"paragraph","data":{"text":"They can also fractionalized the high-valued NFTs through Convergence and put it on ConvO for subscription and becomes tradable in the AMM pools. Convergence enables fractional exposure to these fast growing and unicorn projects and creates secondary market with unlimited liquidity for trading.\r\nFor assets owners, Convergence improves the efficiency for asset holders to fundraise. These private asset owners can tap into the DeFi space and enjoy the capital raised from investors across blockchains.\r\nFor DeFi users, Convergence allows individual investors invest in assets that have never been available to them in the past, for example private and fast-gworing unicoirn projects and and its private sales tokens. Convergence provides liquidity for trading privately owned assets, the AMM system we are building will be providing an automated market making system such that you can always trade the tokenized assets at any amount you want."}},{"data":{"level":6,"text":"Business Model"},"type":"header"},{"data":{"level":1,"text":"The funds which are raised are used under 3 categories"},"type":"header"},{"data":{"items":["Research and Development\r\nConvergence will continue maintaining and optimising the existing infrastructure and also deliver the creation of new product and service offerings.","Organic Business Growth\r\nAfter the successful launch of the ICO, we did and will continue to expand the business for hiring more professionals for the project. We also put more investment in our working capital, sales, marketing, community building and capital expenditures.","Future Acquisitions\r\nAcquisitions are costly and time-consuming. We may acquire a project/company that can deliver synergies and work mutually beneficial to each other."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Market"},"type":"header"},{"data":{"level":1,"text":"The main competitors include Uniswap, SushiSwap, and PancakeSwap."},"type":"header"},{"type":"paragraph","data":{"text":"These AMMs allow users to swap ERC20 tokens as same as Convergence. However, Convergence also allows users to swap extoic assets for example private sales tokens as well as fractionalized NFT in our AMM."}},{"data":{"level":6,"text":"Investors"},"type":"header"},{"data":{"level":1,"text":"There is a total of $3,450,000 raised, excluding IDO."},"type":"header"},{"type":"paragraph","data":{"text":"The top entities that invested include Alameda Research, Hashed, and NGC Ventures.\r\nOther notable investors include CMS, GBV, and Paul Veradittakit from Pantera Capita.\r\n"}},{"type":"image","data":{"caption":null,"stretched":false,"url":"https://assets.polkastarter.com/c01k7uta612zfenqfioqamezoll8","withBackground":false,"withBorder":false,"file":{"url":"https://assets.polkastarter.com/c01k7uta612zfenqfioqamezoll8"}}},{"data":{"level":6,"text":"Team"},"type":"header"},{"data":{"items":["Oscar Yeung (Co-Founder)\r\nOscar brings his expertise in tokenization to the world of DeFi. He was the former CSO of Liquefy, a leading security token issuance platform in Asia.","Ivan Yeung (Co-Founder)\r\nIvan is responsible for the product growth and development of the protocol. He has a strong background in tokenized assets, smart contract development and blockchain knowledge.","Tony Kwok (CTO)\r\nTony has extensive software engineering experience developing algorithmic trading systems and cryptocurrency exchange platforms. He joined BitMEX in 2018 and helped to build their exchange platform, trading billions of dollars daily."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Token Utility"},"type":"header"},{"data":{"level":1,"text":"The $CONV token is the native cryptocurrency token."},"type":"header"},{"type":"paragraph","data":{"text":"It is used for governance rights, where the token and its holders form a self-governed community.\r\nStakers and liquidity providers will also receive a split of the transaction fee in the form of $CONV tokens.\r\nHolders of the token can also receive exclusive participation access to new initial tokenized asset offerings and pre-sale events."}}],"version":"2.27.2"}