Apr 18, 03:14 PM

Ethena Labs and Securitize Launch Converge Blockchain on Arbitrum and Celestia with $7B Assets, 100ms Block Times, and Native DEX

Ethena Labs and Securitize have launched Converge, a new Layer 2 blockchain built on Arbitrum and powered by Celestia, designed to facilitate the tokenization of real-world assets (RWAs) with high speed and low costs. Positioned as a settlement layer for on-chain finance and RWAs, Converge aims to integrate permissioned real-world assets with permissionless decentralized finance (DeFi) on a single chain. The platform is expected to handle over $7 billion in dollarized assets, including USDe and BlackRock's BUIDL. Key technical features include validator backstops, 100-millisecond block times, and a native decentralized exchange (DEX). The project targets institutional demand from traditional finance by combining the scalability of Arbitrum with Celestia's data availability solutions.

#Ethena Labs #Securitize #Converge #Arbitrum #Celestia #USDe #BlackRock

Written with ChatGPT (GPT-4).

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Ethena Labs and Securitize Launch Converge Blockchain on Arbitrum and Celestia with $7B Assets, 100ms Block Times, and Native DEX

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