What is ConvergeX

ConvergeX is an ecosystem incentive coordinator that offers a unique approach to yield farming, token management, and on-chain governance. It introduces a new kind of token system, which includes $CVGX (similar to $SOLID), $vCVGX (similar to $veSOLID), and $oCVGX.

Highlights:

• An inclusive Solidly System with a new token model.

• There will be plugins to integrate any yield-bearing asset into the gauges, so ConvergeX is not just limited to the assets that are created on its own protocol like Solidly.

Compared with Solidly:

• $CVGX = $SOLID. It will be distributed through ConvergeX Bonding Curve, and will always backed by 1 ETH. The price is always >= 1 ETH/CVGX, guaranteed with by the emission schedule. The important thing is, it is NOT the emission token. Users can buy/sell CVGX from & to the bonding curve.

• $vCVGX = $veSOLID. It is the voting power token. Users will stake their $CVGX to get $vCVGX. There won't be a 2 to 4 year lock anymore, as the tokens will only be locked while votes are active. Users are able to reset their votes to 0 to be able to withdraw their locked $vCVGX to $CVGX.

• $oCVGX: It is the call option for CVGX at floor price (1 ETH/CVGX). oCVGX is emitted to gauges as liquidity incentive based on vCVGX voters. oCVGX can always be exercised at the floor price of CVGX, so no matter where the bonding curve sits at the $oCVGX holders can buy CVGX for 1 ETH.

• vCVGX earns 50% of the swap fees from ConvergeX Bonding Curve and earns voting fees (accruing yield, swaps, bribes) from gauges voted for.

• Users will be able to borrow against vCVGX with no interest and no liquidation risk. 1 CVGX can always borrow up to 1 ETH.