Decentralized finance (DeFi) protocol Ethena and tokenization firm Securitize said they will use part of Arbitrum's tech and data availability network Celestia for their real-world asset focused, Ethereum-compatible blockchain, aiming to launch mainnet in the second quarter of this year.
The Converge chain is setting out to have fast blocktimes, allowing users to pay gas fees through Ethena's USDe and USDtb, while creating security and guardrails via its Converge Validator Network, the two protocols behind the project explained in a tech update shared with CoinDesk.
"The idea is that we go on a testnet very soon, in the next few weeks, because we've already been working on this for a while," Carlos Domingo, co-founder and CEO of Securitize, said in an exclusive interview with CoinDesk. "Then, the mainnet: the goal is to do it before the end of Q2."
The exact timing of the public rollout also depends on third-party integrations such as Anchorage for custody support, Fireblocks for key management and other DeFi apps the project partnered with, Domingo added. #ethena
