- Lithium Finance will become the first project to conduct a pre-IDO on Convergence Finance, the next-generation AMM that features private and illiquid assets.
- While the offering will be available to all DeFi users via Convergence’s ConvO platform, the whitelist lottery is weighted in favour of eligible CONV holders.
- The Lithium team is proud to be part of the driving force that helps democratize private and illiquid assets and make them available to everyone.
Lithium Finance is thrilled to announce the launch of its pre-IDO on Convergence Finance, and it will make Lithium the first pre-IDO project on Convergence. This offering came after Lithium and Convergence entered a strategic partnership earlier this month.
Pre-IDO means the token offering that happens before the traditional Initial DEX Offering takes place. Participating investors will gain exposure to VC-style private investment on crypto projects. In Lithium’s case, investors will be able to invest in Lithium and buy LITH tokens at a VC-level rate, which offers a much more significant first-mover advantage over those who will enter in the future IDO.
Lithium’s pre-IDO will be held on June 24, 2021, and the whitelist will be opened on June 17, 2021. The offering will be available on Convergence Offering or ConvO. Eligible CONV token holders will be able to have “premium access” to the Lithium pre-IDO.
David Lighton, Co-Founder of Lithium Finance, said, “Lithium is specialized in pricing private and illiquid assets, and Convergence makes these assets tradable in the DeFi space. As two projects working hand in hand, we are proud to be the first project that can utilize this mechanism and be part of the driving force that helps democratize private and illiquid assets.”
Oscar Yeung, Co-Founder of Convergence Finance, added that “The Lithium pre-IDO is an excellent example to demonstrate the capabilities and capacity of Convergence Finance. We will continue to work closely with Lithium Finance in the future, especially in the area of pricing private assets.”
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.