Convergence Finance to Offer Series of Solana-based Private Sale Tokens On ConvO

  • Alameda Research is one of the early investors of Convergence Finance. The firm has also been well known for supporting many high-quality Solana-based projects.
  • The next patch of private sale tokens on Convergence’s ConvO will be focused on a series of Solana-based projects. A move that put cross-chain composability into action.
  • The Solana-themed offering will begin on August 12th. For premium pool access, users must stake at least 50,000 CONV tokens on ConvPool with an average holding period of 7 days before whitelisting to participate in the sale.

Convergence Finance is delighted to announce that ConvO is set to offer a series of private sale tokens from a number of Solana-based projects. The sale will include some of the most high-profile and exemplary projects growing rapidly in the Solana ecosystem. The Convergence team believes that cross-chain composability is the future of DeFi, and this series of offerings will put this long-discussed concept into reality.

The Convergence team is glad to gain support from Alameda Research on this offering plan. The highly-regarded quant trading and investment firm have been supporting Convergence Finance since the early days. At the same time, the company is famous for backing many innovative and disrupting projects in the Solana ecosystem.

The Solana-themed private sale token offerings will start on August 12th. Like our previous offerings, there will be two pools for the upcoming Solana-themed offerings on the ConvO platform — public and premium. There is no specific requirement to participate in the public pool. However, to ensure our long-term supporters have fair access to the offerings, there will be a premium pool as well. There are three main ways to qualify for premium access:

  • Stake 50,000 CONV;
  • Stake 50,000 CONV worth of CONV-ETH LP at ConvPool; or
  • Stake 50,000 CONV worth of CONV-USDT LP at ConvPool.

Regardless of how users are participating in the premium pool, users must stake their CONV/LP tokens with an average of at least seven days before whitelisting to secure a spot in the premium pool. This additional requirement is to avoid any last-minute purchase of CONV tokens only to participate in the premium pool and protect long-term CONV holders’ interest.

Please stay tuned for future announcements for the offering details, such as which Solana-based projects and the subscription timeline.

Oscar Yeung, Co-founder of Convergence Finance, said, “As a strong believer of cross-chain DeFi, we believe that crypto-assets should not be traded just on a single chain. The upcoming Solana-themed private sale token offerings set an excellent example of cross-chain composability. But, of course, this won’t happen without the support of our long-term partner — Alameda Research.”

About Convergence Finance

Convergence is the first AMM to make private token interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables originators to take advantage of DeFi’s liquidity, while DeFi users can access exotic private exposure 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 exclusive investment exposure to all DeFi users.

Official Links

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