Convergence RFQ Partners with SEI for Revitalized Capital Markets X RFQ Infrastructures
The Convergence RFQ team is excited to be partnering with SEI to better coordinate liquidity between market-markets and protocols, accelerating the potential of on-chain OTC transactions in IBC.
SEI is the fastest Layer 1 Blockchain protocol optimized for DeFi, and this partnership will act as a stepping stone towards advancing transparency in modern capital markets.. Through this partnership with the Decentralized Nasdaq (SEI). SEI and ConvergenceRFQ are opening up new opportunities for market makers to access new protocols and provide on-demand liquidity for applications faster and more efficiently than previously possible.
Convergence’s co-founder, Uwe Cerron, remarked:
“We are very excited to partner with Sei. Sei is at the bleeding edge of crypto and is specially designed for use-cases like ours. We believe that integrating them into our RFQ network will provide significant benefits to our users. This partnership will help us to enhance the efficiency, security, and accessibility of our network, and we are looking forward to working with SEI to make this happen.
What this Partnership Means For DeFi
Shared Liquidity Model
Convergence brings to market a single-integration RFQ solution for market makers to trade native instruments from any protocol. SEI, on the other hand, brings in better back-end integrations where ecosystems will be able to attract and interact with liquidity from “foreign chains.” The Share liquidity model and robust order matching engine enables defi protocols to thrive
Cross-chain Interactions
While Convergence brings a fully on-chain RFQ platform with higher transaction speeds, an on-chain risk engine for capital efficient trades. Convergence RFQ plans to leverage SEI’s order-book specific optimizations to offer best execution and fast finality to its network of market makers.
Who are the Backers Behind SEI?
About SEI
Sei serves as the infrastructure for the future financial system to support capital markets, starting with exchanges. As the first Layer 1 specialized for trading, Sei is the fastest chain to finality, optimizing every layer of the stack to give exchanges an unfair advantage. Exchanges are the killer app of crypto, but current Layer 1s hold them back. Most L1s fall into two extremes, general-purpose and app-specific. Sei unlocks a new design space in between as a sector-specific L1. There are currently 90+ teams from Solana, Polkadot, Terra, and NEAR building on top of Sei going into mainnet. The team is backed by Multicoin, Delphi, Tangent, and several MMs like Hudson River Trading, and GSR.
About ConvergenceRFQ
Convergence is the first fully on-chain RFQ solution optimized for liquidity providers, protocols & market makers. Convergence platform solves the bottleneck of integrating 1:1 with Defi protocols by allowing 1 smooth integration through their on-chain infrastructure. Transparency is one of the protocol's key benefits, allowing everyone to verify data fully on-chain. Convergence RFQ brings the ability to trade and swap tokens without incurring Convergence protocol fees. Convergence RFQ users enjoy a capital efficient network, platform, and protocol in one that allows under and cross-asset collateralized RFQs. These features help Convergence RFQ build a growing network of DeFi clearing venues that connect makers and takers.
