Convergence priceCONV

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CONV price live data

The current price of Convergence is --, with a 24-hour trading volume of --. In the last 24 hours, the price of Convergence decreased by 13.08%. With a circulating supply of 1,684,455,879 CONV, Convergence's fully diluted market cap stands at --. Currently, Convergence ranks No.316 by market cap. The CONV to price is updated in real-time.

Convergence market information

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1,684,455,879 CONV
Market cap at circulating supply

About Convergence (CONV)

Convergence is a decentralized protocol that will allow its users to swap real-world assets and DeFi tokens. With its interchangeable and compatible asset protocol, Convergence unlocks liquidity, incentivizes token holders, and opens up new possibilities to support stablecoins and other protocols in the ecosystem.

CONV is the native ERC-20 token of the Convergence Protocol and can be used to pay for transactions, vote on proposals, and gain access to early and private deals on Convergence Finance.

Unlike other decentralized exchanges, Convergence Finance creates a market for real-world assets on the blockchain using Wrapped Security Tokens (WSTs). Security tokens are tokens that represent a real-world asset like a stock, bond, or shares of a company.

Owners of security tokens also have ownership of the asset the token represents and are overseen and regulated by governments, just like other financial markets.

On Convergence Finance, people can exchange their crypto utility tokens for WSTs, providing people with an affordable and straightforward way to invest in traditional financial assets.

The protocol eliminates the need for intermediaries or central exchanges by connecting the WSTs with UTs on a single network. This solves the liquidity issue and removes entry barriers for retail investors. Furthermore, unlike traditional markets, the Convergence protocol considers both on-chain and off-chain perspectives to help direct liquidity sources and allow accurate price discovery for users.

The main functionality of the protocol lies in its ability to wrap tokens. Convergence's token wrapping module creates a wrapping layer to convert a normal sheet into a wrapped asset. These converted tokens are introduced to the protocol's Automated Market Maker (AMM) infrastructure.

Convergence is built on Ethereum, and its infrastructure eases the whole process of asset exposure to the end user. As EVM is also compatible with chains like Binance Smart Chain, it can effortlessly release more liquidity into the network. The decentralization element of this protocol is its pools and DAOs.

With a DAO, CONV token holders will get governance rights and can decide on future WSTs that should be added.

By integrating Convergence with Moonbeam, Convergence will be the first interchangeable AMM in the Polkadot ecosystem. For liquidity purposes, they partnered with 1inch network. To make the protocol more transparent, they announced to incorporate Chainlink VRF.

CONV price and tokenomics

The native token of the Convergence protocol, CONV, has a total supply of 10 billion. The Convergence team unlocked 60 million CONV tokens by hosting a public sale via an IDO. The platform used is Polkastarter, a cross-chain built on Polkadot. CONV tokens were priced at $0.005 per token, raising $300,000.

In token distribution and release, 40% of the total supply will go into the Convergence ecosystem, 10% to early supporters in the community, and 20% to maintaining liquidity and developing strategic sales. Additionally, founders and other advisors will get a combined 15% of the supply while the remaining is allocated to investors who participated in the seed sale.

As the protocol is still in its early stages, the price of CONV tokens depends mainly on partnerships with other protocols and user growth every quarter.

About the founders

Convergence Protocol is co-founded by Oscar and Ivan Yeung. Oscar started his career as a research analyst for hedge funds and global equity markets. Before starting Convergence, he was a co-founder at a company called Liquefy.

Ivan Yeung obtained his degree in Computer Science from Simon Fraser University. After working at IBM, he led product development roles at Axon Driver Solutions and Liquefy. In 2021, Ivan met with Oscar and started working towards building the Convergence protocol.

Soon after launching, an initial DEX offering (IDO) was held for the CONV token to make it available to the public and raise money for developing Convergence Finance. The IDO was held on Polkastarter, a decentralized exchange built on the Polkadot blockchain that focuses on helping new crypto projects hold auctions for their tokens.

This project is backed by several well-known investors, including NGC Ventures, Genesis Block Ventures, Alameda Research, CMS Group, Kinetic Capital, and Pantera's partner Paul Veradittakit. The seed round helped the team raise a total of $1.5 million.

Learn more about Convergence (CONV)

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Convergence FAQ

What is CONV?

Convergence Finance has a one-of-a-kind interchangeable asset protocol, mainly because the wrapped tokens are compatible with other DeFi protocols. Moreover, its AMM is designed to remove the complexity and give users economic exposure to previously inaccessible assets.

The protocol's uniqueness lies in its ability to provide value to all stakeholders, as they can benefit from the underlying asset of the wrapped token.

How does CONV work?
The underlying Convergence protocol helps swap real, value-driven assets with DeFi utility tokens. Its wrapping module and AMM enable this seamless exchange. The former adds wrapping features, while the latter deals with liquidity and price discovery. Convergence also offers the required flexibility for native token holders and others to create their own markets using pools.
What are security tokens?
Security tokens function as digital representations of assets in the real world on the blockchain. Security tokens can represent anything from stocks to a company's shares.
Can CONV tokens be mined?
No, they cannot be mined. The protocol creates and controls all CONV tokens, and there is no mining process.
Where can I buy CONV?

You can buy CONV from OKX exchange. OKX offers the CONV/USDT trading pair.

Before you begin trading with OKX, you need to create an account. Then, to trade CONV/USDT, click "Basic trading" under "Trade" on the top navigation bar.

If you do not have USDT, you may buy USDT with your preferred fiat before swapping it for CONV in the trading terminal.

Alternatively, visit our new OKX Crypto Calculator. Select CONV and the desired fiat that you would like to convert to view the estimated live conversion price.