Ethena and Securitize Aim for Q2 Mainnet Launch of RWA Blockchain
Decentralized finance protocol Ethena and tokenization firm Securitize are collaborating to launch the Converge chain, an Ethereum-compatible blockchain focusing on real-world assets (RWA). Key details include:
- The mainnet is targeted for Q2 2023.
- A testnet is expected to launch in the coming weeks.
- The project will utilize Arbitrum's technology and Celestia's data availability network.
- Converge aims to connect tokenized RWAs with DeFi ecosystems.
- Ethena’s USDe and USDtb will serve as gas tokens, both anchored to $1.
- The Converge Validator Network (CVN) will enhance security and governance.
- Developers can create both permissionless and permissioned applications on the network.
Ethena has issued $5 billion in synthetic dollar tokens, while Securitize has nearly $4 billion in tokenized assets from major financial institutions. The collaboration aims to onboard significant institutional capital into the blockchain space.