Convergence Secure Their Ecosystem with a CertiK Partnership

CertiK | Apr 26, 2021

Convergence Secure Their Ecosystem  with a CertiK Partnership

CertiK has set out on a joint strategic venture alongside Convergence Finance to ensure the security of their protocol and wider ecosystem. With Converge Finance’s security-centric approach, something which is naturally shared by CertiK, we’re confident that the team have paved the way for a deep level of trust and reliability in their project.

Convergence - Secured by CertiK

As part of the strategic partnership, the Convergence protocol underwent a thorough audit by a team of security experts at CertiK HQ. The audit leveraged a combination of static analysis and manual review and was focused on ConvX, Convergence’s decentralized interchangeable asset protocol.

Our team of security experts were pleased to have highlighted only 5 issues, each of which were informational and present no threat to the security of the protocol. The Convergence Finance team have acknowledged each of these whilst implementing an immediate resolution for one.

Ultimately, the codebase underpinning ConvX is secure, robust, and bug-free. The nature of our partnership will enable us to continue to ensure that Convergence is able to iterate on their product offering securely, deliver innovation to the DeFi space, and move forward with confidence in their code.

Ivan, Co-Founder and Head of Product at Convergence, said, "This strategic partnership is essential to us not just on a product level but also from our business values. Convergence Finance is about bringing real-world asset exposure to DeFi and bringing real-world assets that may not be typically accessible to regular investors. As such, we emphasize building an accessible, user-first, and safe protocol. DeFi is about inclusion, but such inclusion must be responsible. That's why we're extremely pleased to secure this partnership."

Daryl Hok, Chief Operating Officer at CertiK adds, “The Convergence product suite is made of several distinct product shoots where security and verification processes must be implemented. We’re excited to embark on this journey with Convergence Finance and to contribute our expertise with our seasoned engineers and auditors. With a view to the long term, we’re looking forward to exploring how this partnership may strengthen and evolve over time.”

About Convergence

Convergence Finance is a decentralized interchangeable assets protocol designed to bridge real-world asset exposure with the liquidity of decentralized finance (DeFi). It essentially allows DeFi participants to gain exposure to real-world assets.

Convergence will be the first automated market maker (AMM) to make real-world asset exposure interchangeable in the DeFi space by connecting novel Wrapped Security Tokens (WSTs) with utility tokens on a single interface that is easy to use, adaptable, and composable with other DeFi protocols.

So far, we're proud that we have received investments led by Hashed, and followed by investors such as Alameda Research, CMS Group, Kenetic Capital, Pantera's partner Paul Veradittakit, Divergence Ventures (founded by Compound's strategic lead Calvin Liu), etc

About CertiK

CertiK is an edge-standards cybersecurity firm founded by Computer Science professors hailing from Yale and Columbia University respectively, aiming to improve the security and correctness of smart contracts and blockchain protocols on a global scale.

Leveraging a seasoned team of multi-skilled engineers and security auditors, CertiK’s mission is to apply a plethora of high-level industry practices, covering the entire spectrum of static, manual, and dynamic analyses, in order to ensure each project subject to a formal audit is up-to-date with modern security standards while offering their services to the broader DLT community.

Over the past few years, CertiK has serviced more than 100 top-shelf blockchains, DeFi protocols, among other complex and/or custom smart contracts, including but not limited to Binance, Tera, Bancor, Shapeshift, and Blockstack.

Consult with one of our experts at bd@certik.io

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