Ethena and Securitize will jointly launch the Converge Chain, with mainnet launch in Q2

According to CoinDesk, Ethena and tokenization firm Securitize said they will use part of Arbitrum’s technology and data availability network, Celestia, as their real-world asset-focused, Ethereum-compatible blockchain, with plans to launch mainnet in the second quarter of this year. The goal of the Converge Chain is to achieve fast block times, allowing users to pay gas fees through Ethena’s USDe and USDtb while creating security and guardrails through its Converge Validator Network. Converge will soon go live with a testnet in the next few weeks, followed by mainnet, with the goal of completing it by the end of Q2. The exact timing of the public launch also depends on third-party integrations, such as Anchorage for hosting support, Fireblocks for key management, and other DeFi applications that the project works with. The network will use Ethena’s USDe and USDtb as gas tokens to cover transaction costs across the network. In order to participate in CVN, validators must stake ENA, Ethena’s governance token. According to the team, CVN will go live shortly after mainnet launch.