ConvPool Launched on Testnet
We are proud to announce our ConvPool is ready for the community to test out on Kovan. Here is the walkthrough on the ConvPool features, you can stake CONV and/ or Convergence LP tokens to earn reward for facilitating the protocol. Also you can provide liquidity to our ecosystem and receive a split of the transaction fees. In this walkthrough, we will show you how to interact with all the features.
Please join us to provide more feedback. Let’s start by going to https://convx-test.conv.finance/
1. Provide Liquidity To Split Transaction Fee
As a liquidity provider on ConvPool, you can split 0.25% of the trading fees. Your share of the trading fee will be calculated based on the proportion of your liquidity provided in relation to the whole pool.
Add / Remove Liquidity
a. Click on Pools and select Liquidity Pools at the navigation bar to provide or remove liquidity for the CONV-ETH liquidity pool.
b. Select under CONV-ETH pool, to get redirected to the corresponding liquidity pool.
c. Enter the amount of tokens you want to add to the pool, then click Add/ Remove Liquidity.
d. Last step, Confirm twice to approve and confirm the transaction via MetaMask.
2. Stake Tokens To Participate Incentive Program
CONV token is reserved for community distribution for supplying liquidity to the Convergence ecosystem. By staking CONV or LP tokens Convergence will provide CONV in return.
Step 1: Buy CONV
If you do not have CONV tokens in your wallet, click Buy CONV to swap ETH for CONV tokens from our ConvX. It will automatically direct you to the ETH-CONV pair.
Step 2: Stake CONV
a. Hover on the Pools on the left navigation bar and select Staking Pools.
b. Click Stake CONV under the respective pool.
c. Input the amount of CONV token you want to stake. If not you simply click Max to input all your available tokens, then click Stake.
d. After the transaction is confirmed, your CONV is staked successfully to the smart contract.
3. Claim Staking Rewards
Claim staking rewards from Convergence is as simple as easy as just one click.
a. Click the Claim button at the bottom and confirm the transaction via MetaMask.
b. Once the transaction is approved, you will receive CONV as your staking rewards.
Bug Bounty Program
Note the bug bounty program is applicable. Refer to our previous blog below:
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.