CONV

Convergence price

CONV
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4.0/5
CyberScope
4.0
05/20/2024
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USD
USD
$0.0013047
+2.59%
1h
24h
1W
1M
1Y
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Convergence price live data

The current price of Convergence is $0.0013047. Since 00:00 UTC, Convergence has increased by +2.60%. It currently has a circulating supply of 1,998,946,315 CONV and a maximum supply of 10,000,000,000 CONV, giving it a fully diluted market cap of $2.59M. At present, Convergence holds the 283 position in market cap rankings. The Convergence/USD price is updated in real-time.

Convergence price performance in USD

Time periodChange amount%Chg
Today$0.000033018 +2.59%
7 days-$0.00009 -6.61%
30 days$0.00045873 +54.22%
3 months$0.00039473 +43.37%

Convergence market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.0012507
Last price $0.0013047
24h high$0.0013888
Heat index ranking
73
Market cap ranking
283
Market cap
$2.59M
Favorited rate
Percentage of users who favorited this asset to all users
1.08%
All-time high
$0.23700
-99.45% (-$0.23570)
Mar 27, 2021 (3 years ago)
All-time low
$0.00042200
+209.17% ($0.00088273)
Nov 22, 2022 (2 years ago)
ICO date
03/25/2021
ICO price
The price at which this crypto was first traded
$0.0050000
Circulating supply
The amount of this crypto that is publicly available in the market
1,998,946,315 CONV
Market cap at circulating supply
Market cap = Circulating supply × Last price
$12.94M
Audits
The audit data comes from partners that we have integrated with via API. Our partners conduct security assessments on the provided source code.
CertiK
Last audit: 06/22/2021

About Convergence (CONV)

Convergence is a decentralized protocol allowing users to swap real-world assets and DeFi tokens. With its interchangeable and compatible asset protocol, Convergence unlocks liquidity, incentivizes token holders, and opens up new possibilities to support stablecoins and other protocols in the ecosystem.

CONV is the native ERC-20 token of the Convergence Protocol and can be used to pay for transactions, vote on governance proposals, and access early and private deals on Convergence Finance.

Unlike other decentralized exchanges (DEX), Convergence Finance creates a market for real-world assets on the blockchain using Wrapped Security Tokens (WSTs). Security tokens are tokens that represent a real-world asset like a stock, bond, or shares of a company. Owners of security tokens also have ownership of the asset the token represents and are overseen and regulated by governments, just like other financial markets.

On Convergence Finance, people can exchange their crypto utility tokens for WSTs, providing an affordable and straightforward way to own traditional financial assets. The protocol eliminates the need for intermediaries or central exchanges by connecting the WSTs with Unit Trusts (UTs) on a single network. Furthermore, unlike traditional markets, the Convergence protocol considers both on-chain and off-chain perspectives to help direct liquidity sources and allow accurate price discovery for users.

The main functionality of the protocol lies in its ability to wrap tokens. Convergence's token wrapping module creates a wrapping layer to convert a normal sheet into a wrapped asset. These converted tokens are introduced to the protocol's Automated Market Maker (AMM) infrastructure.

Convergence is built on Ethereum, and its infrastructure eases the whole process of asset exposure to the end user. As EVM is also compatible with chains like Binance Smart Chain, it can effortlessly release more liquidity into the network. The decentralization element of this protocol is its pools and DAOs. With a DAO, CONV token holders will get governance rights and can decide on future WSTs that should be added.

By integrating Convergence with Moonbeam, Convergence will be the first interchangeable AMM in the Polkadot ecosystem. For liquidity purposes, they partnered with 1inch network. To make the protocol more transparent, they announced to incorporate Chainlink VRF.

CONV price and tokenomics

The native token of the Convergence protocol, CONV, has a total supply of 10 billion. The Convergence team unlocked 60 million CONV tokens by hosting a public sale via an IDO. The platform used is Polkastarter, a cross-chain built on Polkadot. CONV tokens were priced at $0.005 per token, raising $300,000.

In token distribution and release, 40 percent of the total supply will go to the Convergence ecosystem, 10 percent to early supporters in the community, and 20 percent to maintaining liquidity and developing strategic sales. Additionally, founders and other advisors will get a combined 15 percent of the supply while the remaining is allocated to buyers who participated in the seed sale.

About the founders

Convergence Protocol is co-founded by Oscar and Ivan Yeung. Oscar started his career as a research analyst for hedge funds and global equity markets. Before starting Convergence, he was a co-founder at a company called Liquefy.

Ivan Yeung obtained his degree in Computer Science from Simon Fraser University. After working at IBM, he led product development roles at Axon Driver Solutions and Liquefy. In 2021, Ivan met with Oscar and started working towards building the Convergence protocol.

Soon after launching, an initial DEX offering (IDO) was held for the CONV token to make it available to the public and raise money for developing Convergence Finance. The IDO was held on Polkastarter, a decentralized exchange built on the Polkadot blockchain that focuses on helping new crypto projects hold auctions for their tokens.

This project is backed by several well-known backers, including NGC Ventures, Genesis Block Ventures, Alameda Research, CMS Group, Kinetic Capital, and Pantera's partner Paul Veradittakit. The seed round helped the team raise a total of $1.5 million.

CONV FAQ

What is Convergence (CONV)?

Convergence Finance has a one-of-a-kind interchangeable asset protocol, mainly because the wrapped tokens are compatible with other DeFi protocols. Moreover, its AMM is designed to remove the complexity and give users economic exposure to previously inaccessible assets.

How does Convergence work?

The Convergence protocol helps swap real, value-driven assets with DeFi utility tokens. Its wrapping module and AMM enable this seamless exchange. The former adds wrapping features, while the latter deals with liquidity and price discovery. Convergence also offers the required flexibility for native token holders and others to create their own markets using pools.

What are security tokens?

Security tokens function as digital representations of assets in the real world on the blockchain. Security tokens can represent anything from stocks to a company's shares.

Can CONV tokens be mined?

No, they cannot be mined. The protocol creates and controls all CONV tokens, and there is no mining process.

Where can I buy CONV?

Easily buy CONV tokens on the OKX TR cryptocurrency platform. OKX TR’s spot trading terminal includes the CONV/USDT trading pair.

You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for CONV with zero fees and no price slippage by using OKX TR Convert.