Product Spotlight and Roadmap
Introduction
Following on from the great momentum of our IDO, we’re excited to introduce Convergence Finance from a product perspective with the community alongside our roadmap. The Convergence Finance team will be building four components: ConvO, ConvX, ConvPool and ConvDAO. This post will briefly introduce them in that order and share our upcoming product roadmap.
ConvO:
ConvO will enable asset owners seeking to fundraise to conduct initial token offerings. Asset owners will set the subscription price for their tokens and set up their corresponding swap pool. A portion of the tokens issued in the token offering will be reserved for the Convergence Finance protocol to seed liquidity for ConvX. Beyond asset owners, ConvO also enables CONV holders to access premium investment assets not typically available. To ensure that only quality assets are originated, asset owners setting up their initial token offering will need to pass through checks from the Convergence team to begin with, with final approval from ConvDAO to list the asset.
ConvX:
ConvX is an Automated Market Maker (“AMM”) that allows swapping of assets and CONV on the Ethereum Chain. Convergence applies a 0.30% fee for each trade; 0.25% goes to liquidity providers and 0.05% to the protocol.
ConvPool:
ConvPool aims to incentivise CONV and / or CONV-LP holders to stake their CONV in the protocol, in other words, to provide liquidity to the ecosystem. In return, liquidity providers will receive 0.25% of the trading fees from Convergence X. Additionally, CONV and / or CONV-LP holders can stake CONV and/or CONV-LP and in return receive CONV rewards based on specific pool rate.
ConvDAO:
Convergence is managed by a decentralized community of CONV token-holders and their delegates who will propose and vote on upgrades to the protocol. CONV holders with 2% of CONV delegated to their address can propose a governance action.
Looking ahead, more product shoots will be built and rolled out for the community, the details of which will be revealed in the future so stay tuned!
Product Roadmap
We want to provide the best trading experience in the DeFi space for our users, and our product roadmap reflects this.
- Mid April: ConvX deployed on testnet. The Convergence team will be gathering more user experience feedback from the community, and will release a bug bounty program to test the protocol’s robustness.
- Late April: ConvPool launched on testnet.
- Early May: ConvX and ConvPool launched on Ethereum mainnet.
- Early June: First token to be offered on ConvO and subsequently traded on ConvX announced.
- Mid June: First token offering on ConvO structured and tradable on ConvX.
Conclusion
That’s all for now. We’re extremely pleased to share our product suite and our roadmap with the community. Thank you for your fantastic support so far.
Until next time,
Convergence Team.
