What’s up in the Void?

Convergers,

A few things happened this week, so it might be the right time for a What’s up in the Void? post!

We’ll address a few topics, one by one!

1️⃣ The new CVG/WETH pool:

Following the CIP #8 execution, the main liquidity has been shifted towards a CVG/WETH pool on Curve. The CVG/FRAXBP pool will be kept for farming purposes, according to the POL strategy. We’ll seek a gauge on Frax for it, and keep incentivizing it, so feel free to LP there!

CVG/WETH pool: https://curve.fi/#/ethereum/pools/factory-twocrypto-0/swap

This pool is a first of its kind. It is a cryptoswap-ng pool, which is the new implementation of Curve crypto pools. It is more secure (no naked $ETH), and way more gas efficient than old pools (about 3x cheaper). Our pool is now one of the cheapest crypto pools to use on Curve.

However, even if we used the UI to deploy the pool, the Curve front end wasn’t entirely ready for it:

• the router is unable to wrap $ETH to $WETH when using the swap page ➡️ this issue should be fixed soon;
• UI doesn’t show TVL or volume ➡️ same, it should be fixed soon.

As mentionned in yesterday’s tweet (https://twitter.com/Convergence_fi/status/1765811024630784406), until the router is fixed, you need to use $WETH to buy $CVG.

Following the liquidity shift, we deployed an upgraded version of the cvgOracle, so it can properly fetch $CVG price on-chain.

The price on the dapp dashboard now reflects the $CVG price in the new CVG/WETH pool.

Regarding charts viewer tools (GeckoTerminal mostly):

• they need to implement these new cryptoswap-ng pool and it requires some work on their side;
• we’re pushing as much as we can so it can be integrated ASAP.

Meanwhile, trust our front end!

The no chart viewer and no router issues are annoying, but both will be fixed soon. That’s part of the journey, and now at least, we’re officially part of Curve history!

2️⃣ UI updates:

In the “Stake” section of the dapp, you can now see for each staking pool if:

• Stake DAO rewards are streaming;
• Rewards have been harvested on Convergence.

For a few days, projected vAPRs were wrong (long story short, our indexer stopped indexing, but it is now back on track). It is now fixed, the vAPRs displayed on the UI are right, and we’re monitoring it closely.

3️⃣ WL & IBO boost:

The 5% boost for WLs and IBO buyers is now live! Go into the Position section of the dapp, select your token, and click the Boost button!

4️⃣ Convex integration:

We estimate the code base should be ready in 2 to 3 weeks. Once again, we’ll need to go through an audit process once the code is done.

A full breakdown of the integration will be dropped soon, stay tuned, and be ready for some world-class financial engineering!

5️⃣ Metagovernance:

The metagovernance for veSDT is now activated, and the first gauge votes are live! If you own some mgCVG, be sure to cast your votes!

Gauge votes LPs: https://snapshot.org/#/convergence-mgcvg.eth/proposal/0x70255b9dfb1a40dffde8e6e3552321de52d4f1c6381a5b8a483d12774349c40b

Gauge votes Vote bounties: https://snapshot.org/#/convergence-mgcvg.eth/proposal/0xab17c67fcd6ffb5d381f96aef41156588a59f643c2b4b2603253798c8bfec846

A new dedicated channel has been opened in our Discord.

6️⃣ New features:

We should soon propose a new feature for $CVG, which will accrue more value to the token.

7️⃣ New staking pools:

Since the deployment of the protocol, 3 new pools have been added. As for now, the strategy is to open new staking in partnership with other protocols. We’ll continue to work it this way, and add new pools along the way.

If you have a suggestion for a pool that you’d like to see on Convergence, let us know!

8️⃣ Debank:

Our beloved Debank app is now fetching the value of staking and locking positions in Convergence!

And that’s it for now! Stay tuned, thanks for reading!

Website: https://cvg.finance/
Twitter: https://twitter.com/Convergence_fi
Discord: https://discord.gg/convergencefinance