Convergence Partnership With Celer Network

Convergence Finance is excited to announce its partnership with Celer Network, a secure cross-chain bridging protocol, allowing Convergers to seamlessly bridge their assets between Ethereum and Moonbeam Network.

Key Integrations

• Convergence Finance partners with Celer Network to support new token pairings and launch yield-farming pools soon on Moonbeam Network
• $CONV tokens has been bridged from Ethereum to Moonbeam Network via Celer’s Open Canonical Token Bridge standard
• Exclusively on Moonbeam Network: In the upcoming launch of yield-farming pools, Convergers can stake LP tokens and enjoy dual-reward yield farming in $CONV and $CELR for a limited time

Convergence’s current swap pairings on Moonbeam are utilizing ceTokens and Convergers can bridge their assets on Ethereum via cBridge (Celer Bridge).They will be adding additional token pairings and pools in the upcoming Farm launch.

Convergence’s $CONV tokens have been bridged from Ethereum to Moonbeam Network via Celer’s Open Canonical Token Bridge standard. In other words, $CONV will not be limited to a single-minter canonical token contract when minted on Moonbeam and will be compatible with any other canonical token bridge — allowing multiple bridges to concurrently serve as canonical token bridges for $CONV on Moonbeam.

This enhances the flexibility and reduces the vendor lock-in risk of relying on a specific bridging solution, democratizing $CONV as a multi-chain token.

Dual-Yield Farms with $CELR and $CONV Rewards

To celebrate this partnership, in the upcoming launch of our yield-farming pools on Moonbeam, Convergers will be incentivized with additional $CELR rewards for a double-reward yield farming experience on Moonbeam Network.

Convergence liquidity providers on the Moonbeam Network will be able to enjoy dual yield of $CONV and $CELR tokens when staking their LP tokens to the farms in addition to the accruing 0.25% transaction fees generated from liquidity provision.

ABOUT Convergence 
Convergence is the first AMM to make private tokens interchangeable in the DeFi space by fractionalizing them using a single easy-to-use interface and composable with other DeFi protocols. Convergence enables originators to take advantage of DeFi’s liquidity, while DeFi users can access exotic private exposure unavailable to them before. 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 Celer Network
Celer Network is a layer-2 scaling platform that brings fast, secure, and low-cost blockchain applications on Ethereum, Polkadot and other blockchains to mass adoption. Celer launched the world’s first Generalized State Channel Network and continues to push the frontier of layer2 scaling with advanced Rollup technology. Core applications and middlewares like cBridge, layer2.finance and more ecosystem applications built on Celer have attracted more large audiences in DeFi, blockchain interoperability and gaming space.

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RESOURCES
Medium