Undoubtedly, most of the companies and start-ups begin their activity with the goal of continuous work for several years. However, it is impossible for a company or trading group to remain unchanged forever. Besides planning for improvement, this would make entrepreneurs to think of an evasion way for their business. By evasion, we mean the exit of founders or conversion of capital to cash. In this article we aim to take a short look at Convergence protocol as new innovation in this field.
Convergence Protocol, An Innovation in Cryptocurrencies industry
The first is Initial Public Offering, in which a part of a company will be sold in public marketplaces. Another method is to raise capital through private fund-raising rounds, which are vital to the next steps of improvement. Nevertheless, there are challenges in deciding whether to sell the stakes to others or not. One of these challenges is specific assets that selling or transferring them can be problematic. In addition, the initial public offering costs are considerable.
Now, Convergence, which is a blockchain-based company has introduced a decentralized protocol for trade-able assets. Therefore, real assets can be transferred to DeFi world through tokenization. Even specific tokens like NFTs can enter DeFi world using Convergence automated market maker.
Convergence protocol will also have a notable impact on private business activities’ continuance through providing quick liquidity and exit way for amateur stakeholders. In this method, there is no need to change the ownership. Stakeholders can easily implement their transactions. CONV is the native crypto of this protocol, which has entered the market since the end of March. Currently its price is around less than $0.03. It has been set to be a total supply of 10 billion CONV. Total supply in circulation is now less than one billion tokens. CONV market cap is also fluctuates around $23 million.