The Convergence Protocol is the first to make real world asset exposure interchangeable in the DeFi space by connecting Wrapped Security Tokens (WSTs) with UTs on a single interface that is easy to use, adopt and composable with other DeFi protocols.

Today we have Oscar Yeung as Co-Founder of Convergence joining us to answer our questions for the next hour.

I’m Oscar Yeung. I’m the Co-founder of Convergence, and have been a strong advocate of bringing real world assets onto the blockchain. I’m also the COO of Liquefy, a leading security token issuance platform in Asia. Prior to my ventures in the blockchain space, I worked as a Global Markets Analyst at Deutsche Bank.

I am also a active investor in the venture capital and private equity space. Spending time in traditional finance and now moving into DeFi, I really saw first hand both the innovations and limitations of security tokens as well as now seeing the growth and demand for real world assets in the DeFi.

Question from the CryptoRank team

#1. Could you please tell us more about yourself and your experiences?

Oscar: – Alongside Liquefy, I am also the co-founder of DAO Ventures, a high-growth ventures focused firm focused on token investment (e.g. Oxygen) and Pre-IPO investments, and Venture Partner of EONXI Ventures, a venture capital firm and startup studio founded by Spencer Dinwiddie (star player of NBA Brooklyn Nets).

I received a bachelor’s degree in science with a dual major in Finance and International Business from N.Y.U. Stern School of Business, and obtained a certificate in Blockchain Strategy from Oxford Saïd Business School.

#2. What upcoming development are you most excited about?

Oscar: – So far, we’re proud that we have received investments led by Hashed, and followed by investors such as Alameda Research, CMS Group, Kenetic Capital, Pantera’s partner Paul Veradittakit, Divergence Ventures (founded by Compound’s strategic lead Calvin Liu), etc. We are excited to announce our second batch of investment soon

Product wise, we’ve recently released our litepaper and are working hard to get more information out to you guys as soon as possible. The product team is working extremely hard to bring the product live as soon as possible and we are making great strides everyday.

There’s a lot happening, so make sure to join TG, follow Twitter and read our Medium for more details!

Questions from Telegram

#1. What are the main products of Convergence ? Does the project have a plan to launch new products in the future?

Oscar: – The Convergence protocol consists of the token wrapping module, Convergence AMM infrastructure, Convergence Pools and ConvergenceDAO.

The token wrapping modules is our proprietary asset to offer wrapped security tokens to be traded on the Convergence AMM.

Convergence AMM infrastructure enables and facilitates
trading of wrapped security tokens (WSTs) and real asset price discovery.

Convergence Pool is gives assets owners the flexibility to easily create and manage their our pool.

Convergence DAO offers greater transparency and decentralization to the Convergence protocol.

#2. What are the advantages of Convergence compared to most projects currently on the market? Will there be some innovation?

Oscar: – There are many amazing projects that are trying to bring real world assets into the DeFi ecosystem. Most people have mentioned mirror protocol as a recent project trying to solve similar problems.

For comparison, we provide access to real world asset exposure while Mirror is a synthetic asset exchange to mimic the price for the underlying. For synthetic asset exchanges they are focused on public and liquid products such as stocks and indexes. For Convergence, you can directly swap utility tokens and wrapped security tokens (WSTs) with our proprietary AMM model. Often these WSTs are private company exposure that is not available on Mirror. Think about you can swap DOGE <> SpaceX exposure, Flow<>Dapper Labs, for example.

Our vision is to democratize investment into the alternative investment space, with opportunities typically reserved for institutional players.

#3. “Staking” is one of the strategies to attract users and achieve mass adoption. Does your great project have plan about Staking?

Oscar: – Staking certainly has benefits and we plan to implement staking mechanism to accrued value to the Convergence native tokens. For user who have staked Convergence tokens, they are entitled to the following functions:

Governance Rights: voting on matters such as new assets, listing on exchange, rewards for specific token pairs

Split of transactions fees: CONV holders will receive a split of trading fees from the AMM

Privileged Access: perhaps the most important feature is gain priority access to exclusive participation rights to new initial WST offerings and pre-sale events.

Questions from Twitter

#1. From where you get the project name? What does it means to you? And why you choose this name for your project?

Oscar: – Convergence means the act of converging and especially moving toward union or uniformity. Private company valuation are structured as in rounds where the valuation changes in terms of series A, B, C. In Convergence protocol, wrapped security token prices changes depending on price curve in the AMM pool and will typically be at a premium or discount. At a liquidation event, such as a private company going IPO, the real world asset prices would then converge to the convergence digital price, hence the name of the project.

#2. Where do you expect Convergence Finance to immediately find utility from digitising real world assets?

Oscar: – Digitizing real world asset, also commonly known as Security Token, has been a hot topic that the blockchain community has tried to solve. However, this space have not taken off like many expected due to lack of secondary market liquidity. This is quite evident when contrasting the trading volume of Defi AMM like Uniswap vs STO exchange across the world. We believe Convergence is the missing piece to truly unlock the potential of real world assets exposure on blockchain.

#3. Only getting users, holders etc is not everything. In my opinion, a project needs to deal with solving a real world issue or problem What is the problem that your project primarily focuses on?

Oscar: – The problem Convergence is trying to solve is the lack of access to alternative investments. These opportunities are typically reserved for institutional investors and family offices. Pre-IPO companies for example, offers a great risk to return profile (especially in this stock market) that would be great from an investment point of view. Convergence enables fractional exposure to these private companies and creates secondary market with unlimited liquidity for trading.