Convergence RFQ is Set to Pioneer Institutional DeFi Trading with Public Testnet Launch

Singapore, Singapore–(Newsfile Corp. – March 29, 2024) – Convergence RFQ, an on-chain liquidity network tailored for institutions, market makers, and protocols, announced the launch of its highly anticipated public testnet. This milestone marks a significant step towards helping DAOs and institutions adapt to the realm of decentralized finance (DeFi).

Figure 1: Convergence RFQ Public Testnet Beta Now Live

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The public testnet will provide a secure and robust environment for institutional traders, hedge funds, market makers, and protocols to experience Convergence RFQ’s platform first-hand. Designed with capital efficiency as a core tenet, the platform offers a sophisticated Request for Quote (RFQ) system, enabling multi-leg buy, sell, and two-way quoting for intricate structures, spanning spot, options contracts, and additional instruments, like futures or delta-one derivatives(coming soon), for any Solana wallet.

Convergence RFQ aims to be the one-stop solution for any DeFi Institutions, whether it be a DAO, a start-up treasury in a multisig wallet, or a DeFi hedge fund, with over 614 DAOs actively identified by a Convergence foundation contributor and winner of the Solana Scribes Challenge. Convergence RFQ aims to be the block trading solution whenever a DAO aims to sell in size without the need to dollar cost average or TWAP out of their positions. With more DAOs launching on Solana this summer, and the meme culture movement taking off, convergence RFQ is poised to help any DAO with infrastructure for portfolio and treasury management needs.

“Our public testnet represents a pivotal moment in our journey towards democratizing institutional access to any on-chain actor in the Solana ecosystem,” said Uwe Cerron, Founder of Convergence RFQ. “This launch empowers on-chain DAOs, and empowers founders to unlock liquidity for any altcoin, enhancing price discovery, with the aim of better execution than a CLOB or AMM.”

To grow and support the community along Testnet phase, Convergence RFQ have also introduced Ambassador and Points programs to identify and validate meaningful community contributions.

Convergence believes that through meaningful participation and collaboration, users can collectively shape the future of institutional DeFi trading and create a platform that truly resonates with the needs of its users.

Institutions, market makers, and DeFi enthusiasts are invited to join the Convergence RFQ public testnet, explore the platform’s capabilities, and experience the platform first-hand.

Together, Convergence RFQ aims to redefine the standards of institutional trading within the decentralized finance (DeFi) landscape.

Follow Convergence RFQ’s media channels to keep updated with the latest updates:

Website: https://www.convergence.so/
Twitter: https://twitter.com/ConvergenceRfq
Telegram: https://t.me/convergencerfq

Media contact:

Company name: Convergence RFQ
Contact name: Uwe Cerron
Email: Uwe@tradersguild.so
Website: https://www.convergence.so/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194057