ChainCatcher news, the decentralized interchangeable asset protocol Convergence has announced its latest roadmap after transforming into an AI trading algorithm platform. According to the plan,Convergence will undergo a rebranding in Q3 2024, develop a prototype of the AI trading platform, and focus on expanding into the South Korean market.In Q4, a trading DAO will be established, governance tokens will be introduced, and the development of AI trading algorithms will begin.In Q1 2025, AI algorithm optimization and platform beta testing will take place, and in Q2, fully homomorphic encryption (FHE) technology will be introduced to enhance security and confidentiality.In the second half of the year, Convergence plans to expand its global market share, establish strategic alliances, and continuously optimize algorithms and trading tools.

ChainCatcher news, according to the monitoring by Shield, the DeFi protocol Convergence has been attacked, resulting in a loss of approximately $210,000. The hacker minted about 58 million CVG, which were then exchanged for 60 WETH and 15,900 crvFRAX.The vulnerability is part of the CvxRewardDistributor contract, which did not validate (untrusted) user input for claiming rewards.

ChainCatcher news, according to The Block, the Solana-based crypto trading platform Convergence RFQ has completed a $2.5 million Pre-Seed funding round at a valuation of $30 million, led by C² Ventures, with participation from Big Brain Holdings, the Israel Blockchain Association, Auros Global, and others, using the Simple Agreement for Future Tokens (SAFT) format. Convergence RFQ is currently building its platform on Solana and plans to support Arbitrum, with a launch expected in early next month.

ChainCatcher news, Mesh's parent company, the fintech incubator and investment group 42Markets Group, announced that it has secured $10 million in growth funding from Convergence Partners to promote the growth and development of its portfolio companies, including Mesh, Andile, and FXFlow.Mesh (Mesh.trade) was co-founded in 2019 by Managing Director Connie Bloem and 42Markets Group CEO Andries Brink, aiming to bridge the gap between TradFi, AltFi, and DeFi, allowing market participants to issue, tokenize, trade, settle, and manage various digital securities. Mesh was initially launched on the Stellar blockchain and is currently working on integrations with other L1 blockchains to introduce a new range of asset classes. (source link)