Carefully read the entire technical description, directly summarizing a few key points, and briefly explaining their impact on $ENA .
Token related
USDe and USDtb serve as the underlying Gas tokens for Converge
sENA serves as the staked asset for the Converge Validator Network (CVN)
Converge, as a blockchain, will not issue new tokens
The goal is to introduce institutional capital from traditional finance to achieve the integration of RWA and DeFi.
US dollar-pegged stablecoins eliminate price volatility risk and are conceptually friendly, undoubtedly becoming the best choice for traditional finance entering on-chain finance in terms of underlying assets.
As always, the function of governance tokens always falls on protecting the validator network.
Potential positive factors, such as protocol transaction fees and Converge ecosystem project airdrops, but more information is still needed for verification.
Technical related
Simplifying development difficulty; in addition to the commonly used Solidity in EVM, programming languages familiar to developers such as C++ and Rust can also be used
User-friendly, providing account abstraction functionality through ERC-7702
Strengthening cross-chain liquidity with USDe, USDtb, and RWA assets across EVM and Solana
On-chain technical support, achieving high throughput and low costs based on Arbitrum Orbit + Celestia DA
Considerations have been made from various aspects including developers (on-chain construction experience), users (usage experience), and assets (security), a typical top-down design (with clear goals).
Summary
Regarding the impact on coin prices, I can only say: there is insufficient information to make a judgment.
However, looking at recent developments, Ethena's third-quarter airdrop should be ready to be released (originally scheduled for April at the latest), so ENA is expected to have more volatility in the next two weeks (airdrop + sENA unstaking time).
Ethereal was originally scheduled to end the test net in May, and the current TVL has soared to 900M. Currently, USDe has no particularly attractive destinations, so many people are betting on the Ethereal airdrop.
Finally, I particularly want to talk about the technical development of Converge. As I mentioned before, I have always highly appreciated Ethena's business operations.
From this announcement, it can be seen that they have strong integration capabilities in terms of goal setting, supporting establishment, and resource operation.
Unlike many RWA track projects, which increase extreme throughput and low latency based on PayFi applications; Converge's technology is clearly based on financial applications while also considering ecosystem development.
If only looking at data such as TPS, bandwidth, and costs, it is easy to fall into a cognitive misunderstanding.
Looking at the essence of the needs of both, each has its demands and strengths, but Converge has indeed done well.
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※ Ethena code:
eu54u
※ Ethereal code:
R7AH81
I have placed the Ethereal link in the pinned comment.
※ The above content does not constitute investment advice; users should operate based on their own risk tolerance, DYOR and participate in the investment market cautiously.
※ The attached image is from Converge