Lithium Finance Join Hands with Convergence Finance to Price Illiquid Assets
- The partnership will put Lithium into action for the first time, assisting Convergence in pricing illiquid assets more effectively using Lithium’s collective intelligence mechanism.
- The price discovery process of private assets in the Convergence system is expected to improve significantly with the help of Lithium.
- The Lithium-Convergence collaboration sets a solid foundation for bringing real assets into the DeFi space.
Lithium Finance is thrilled to announce the partnership with Convergence Finance, the first AMM to make private assets interchangeable in the DeFi space. Lithium will help Convergence to regularly price illiquid private assets using collective intelligence. This is powered by the DMI mechanism or Determinant-based Mutual Information mechanism. This method allows participants to seek pricing information on specific private assets and incentivized pricing providers to give accurate and honest answers.
Lithium Finance will give much fairer pricing on private assets across the Convergence system. It’s expected to improve the overall price discovery process of such assets significantly. On top of that, this partnership is a critical part of bridging the gap between the real asset world and the DeFi space because there will be no trade of private assets when they cannot be priced correctly and reasonably.
Steve Derezinski, Co-Founder of Lithium Finance, added that “Convergence will be the first real application of Lithium Finance, and it will put years of academic research into real action. We can foresee the synergy between Lithium and Convergence will be huge, and this partnership could set an excellent example to showcase how powerful this technology can be.”
Oscar Yeung, Co-Founder of Convergence Finance, said, “A cutting edge private asset pricing oracle marries with an innovative private asset offering and trading platform, this partnership makes Convergence and Lithium a perfect duo in the DeFi space. We are truly excited about the partnership with Lithium.”
About Lithium Finance
Lithium Finance is the first collective-intelligence pricing oracle to give precise and timely pricing on private, illiquid assets. It rewards analysts who provide truthful information and punish those who offer false pricing data. As a result, Lithium’s users will get the pricing for all hard-to-value assets such as pre-IPO stocks, private equity, and other illiquid assets effectively.
About Convergence Finance
Convergence will be the first AMM to make private assets interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables asset owners to take advantage of DeFi’s liquidity, while DeFi users can access exotic real-world assets 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 real-world asset exposure to all DeFi users.