Convergence Finance has completed its integration with Moonbeam, a fully Ethereum-compatible parachain on Polkadot. The Convergence team chose to work with Moonbeam to achieve cross-chain compatibility with the technical advantages and efficiency of a parachain on Polkadot to enjoy the convenience of full Ethereum compatibility.
Through this integration, users will be able to freely move their crypto assets from Ethereum to Moonbeam on a high-transaction throughput and low gas-fee network for the end-to-end private-sale token subscription, plus the swapping of Convergence private-sale future tokens and other crypto assets.
Moonbeam’s Ethereum compatibility serves as the first step for the Convergence team to explore multichain networks and optimize the transaction fees for the end-to-end user experience. Convergence aims to democratize investment by making private markets public and enabling cross-chain compatibility to maximize liquidity across different chains so users can transact beyond the Ethereum ERC-20 token standard.
Projects building on Moonbeam can use the same smart contract languages, Ethereum-style accounts, developer tools, base-level integrations and other services they currently rely on — but in a new extended environment on Polkadot. These projects are then able to natively interact not only with Polkadot but other parachains also connected to the network.
Ivan Yeung, co-founder of Convergence Finance, said:
“The Moonbeam team has been very supportive in many aspects since the early days of Convergence, and we are grateful for the Moonbeam mainnet’s deployment. With its unique advantages, we believe Convergence will be able to be one of the top cross-chain launchpads and automated market makers (AMM) in the ecosystem.”
The Convergence Finance platform brings fundraising and early subscription of exclusive opportunities through private-sale tokens before public access. It allows users to transact the private-sale tokens with other crypto assets for price discovery and other decentralized finance-focused opportunities that allow Convergence to offer a robust launchpad ecosystem on Moonbeam, enabling early fundraising for new Polkadot-based DeFi applications.
Convergence Finance is now on Moonbeam Network and supporting token swaps via its AMM and liquidity-provision functions for liquidity providers to earn transaction fees. The Convergence protocol token, CONV, is bridged from Ethereum and minted on Moonbeam Network as a multichain token.
The Convergence team is preparing for the next private-sale token offering on Moonbeam for a fast, optimized token subscription experience for users to access the private markets. The team will also be leveraging the economical transaction fees on Moonbeam Network to improve the token subscription process and introduce a premium converger program to make private markets public via the project’s cross-chain AMM and launchpad.
Experience the power of a multichain network on the website by switching to Moonbeam Network.
About Convergence Finance
Convergence is the first AMM to make private tokens interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface. It is also composable with other DeFi protocols. Convergence enables originators to take advantage of DeFi’s liquidity, while DeFi users can access exotic private exposure previously unavailable. 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.
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About the Moonbeam Network
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and decentralized app (DApp) front ends to Moonbeam with minimal changes. Similar to Moonriver, its sister parachain on the Kusama network, Moonbeam is expected to accumulate developer and user activity from the 80-plus projects building DApps and protocols on the network. As a parachain on the Polkadot network, Moonbeam benefits from the shared security of the Polkadot Relay Chain and integrations with other chains connected to Polkadot. Learn more on its website.