Ethena Labs and Launch Layer-1 Blockchain is called Converge

Ethena Labs and Securitize It has announced the launch of the Conversge, which is a group of Layer-1 that focuses on institutional capital flows and integrating symbolic assets with Defi.

According to Ethena Labs ’17 March advertisementThe initiative aims to provide a specially designed network for authorized financial applications and not permission.

Ethena Labs and Securitize plan to issue technical documents in the coming weeks, followed by the Testnet developer. Mainnet is to be launched for the second quarter.

Institutional capital and distinctive assets

Ethina LAPS and insurance see support for Defi speculation, storage and settlement for Stablecoins and symbolic assets as two basic applications for Blockchain technology.

Although speculative activity is still a basic use, companies believe that there is a greater opportunity for institutional dependence on distinctive financial products.

Securitize has released about $ 2 billion in chain assets, including Blackrock’s Buidl Fund and Products from Apollo, Hamilton Lane and KKR. The company’s integration with Convert will make the primary version layer for distinctive assets, which expands its scope beyond the treasury products to a wide range of financial tools.

Ethena Labs will also bring a group of stablecoins and the assets that carry the return-USDEand USDTBAnd Iusde- for manipulation, facilitating the new institutional degree products.

Financial and technical framework

Convert is the ETHEREUM (EVM) virtual implementation environment. Founding Founders will secure the network with attention Ena Symbols, while USDE and USDTB will work as original gas symbols, which simplifies transactions.

Blockchain will work with three parallel application levels. The first is a DEFI ecosystem without permission that supports applications and projects that support the US dollar pure by Ethena Labs.

The second unit is demanding applications, allowing traditional financial institutions to interact with the parties compatible with your knowledge procedures using Iusde and USDTB.

The final part consists of new financial products that benefit from the distinctive securities of Securitize, credit enabling, fixed -income financial leverage, and shares trading through instant bodies and permanent bodies.

Moreover, the announcement of the protocols committed to constructive on the Christ, with a focus on DeFi solutions of the institutional degree. Horizon names include by AAVE LaboratoryPendle, Morpho Labs, MAPLE Finance, and Etherealdex.

Convert will also integrate major infrastructure service providers, including Layerzero for cross -operation, PyTH network of PRICE Oracles, and worm to fill assets.

Moreover, Blockchain has support from institutional secretaries such as Morsicopper, GrainsAnd Komainu and Zodia Custody. Companies will provide asset management and main incubation services.

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