Ethena Joins Forces with Securitize to Read Converge on the Upcoming Testnet in Three Minutes

Converge will go live on mainnet by the end of Q2 this year.

Written by: 19122212.eth, Foresight News

On April 17th, crypto project Converge jointly released its initial technical specifications and development roadmap by Ethena Labs and Securitize, as an innovative platform aimed at bridging traditional finance (TradFi) and DeFi, Converge plans to achieve mainnet launch and drive large-scale financial applications this year with high performance, institutional-grade security, and user-friendliness at its core. In this article, we’ll break down Converge’s technical specifications, roadmap highlights, and their potential impact.

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(CEO of Securitize on the left and CEO of Ethena Labs on the right)

1. Ethena Labs is a joint venture with fintech company Securitize

Jointly built by Ethena Labs and fintech company Securitize, Converge is positioned as a high-throughput blockchain network focused on supporting tokenized real-world assets and DeFi applications. The project aims to attract institutional capital into the crypto ecosystem through technological innovation and compliance design, while providing an efficient DeFi experience for retail users. Its core vision is to break down the barriers between traditional finance and crypto finance and promote the global convergence of capital flows and interest rate markets.

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Ethena Labs has a wealth of DeFi experience with USDe’s rapid growth (at one point, it was over $6 billion in market capitalization, making it the third-largest stablecoin), while Securitize has deep compliance and technical expertise in asset tokenization. The partnership gives Converge the unique advantage of meeting the stringent security and compliance requirements of institutions while providing the openness and innovation of DeFi.

Second, the high-performance EVM chain, USDe and USDtb as gas fees

The Converge network will support both permissionless DeFi applications and permissioned institutional-grade products, enabling the convergence of traditional finance and crypto infrastructure on the same chain. Converge’s technology architecture is designed around the three pillars of performance, security, and user experience, and here’s a breakdown of its core technical specifications:

High Performance EVM

Converge uses an Ethereum Virtual Machine (EVM)-based architecture to ensure compatibility with existing DeFi ecosystems, while achieving ultra-high performance through custom optimizations. The network will launch with a native block time of 100 milliseconds and a maximum throughput of 100 million gas/seconds (Mgas/s). The roadmap shows that by the fourth quarter of 2025, block times will be further reduced to 50 milliseconds, and throughput is expected to reach 1 billion gas/s (Gigagas/s). This performance metric far exceeds most existing Layer 1 and Layer 2 networks, and is sufficient to support large-scale financial transactions and complex smart contract execution.

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Arbitrum Integration with Celestia

Converge achieves low latency and high scalability by integrating Arbitrum’s Rollup technology with Celestia’s data availability layer. Arbitrum provides an efficient transaction processing and smart contract execution environment, while Celestia reduces network costs by separating data storage, ensuring stable and predictable transaction fees. This modular design allows Converge to strike a balance between performance and cost, making it ideal for institutional-grade applications.

Stablecoin as Gas Fee

To improve the user experience, Converge chose stablecoins such as USDe and USDtb as gas fee tokens, rather than traditional native tokens with high volatility. This design allows users to estimate and pay transaction fees in USD-denominated units, avoiding the uncertainty caused by fluctuations in the price of crypto assets. In addition, the network supports the ERC-7702 account abstraction standard, simplifying wallet operations and eliminating the pain points of ERC-20 token pre-authorization and complex gas management.

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Converge Validator Network (CVN)

Converge has introduced a unique Validator Network (CVN) that is staked through Ethena’s ENA token to secure the network. CVNs use a privileged validator model (PoS, permission set) combined with KYC/KYB (Know Your Customer/Business) mechanisms to ensure that validators meet compliance requirements. This design is specifically designed for institutional users to meet their risk management and compliance needs. At the same time, the network uses a two-tier architecture: the core network strictly controls access rights, and the application layer supports an optional permissionless interface to provide developers with flexibility. In order to participate in CVN, validators must stake Ethena’s governance token, ENA. According to the team, CVN will go live shortly after mainnet launch.

Custom G2 Sequencer

Converge uses a G2 sequencer custom built by Conduit, combined with the Arbitrum technology stack, to provide efficient transaction sequencing and confirmation. This sequencer is a key component in achieving 100 ms block times and ultra-high throughput, ensuring the stability of the network in high-load scenarios.

3. Testnet will be launched in the next few weeks, and mainnet is planned to be launched at the end of Q2

Converge also unveiled its 2025 roadmap, which clearly outlines key milestones from testnet deployment to mainnet launch, broken down into the following phases:

Q2 2025: Testnet Live

The testnet is expected to launch in the coming weeks, providing early onboarding opportunities for developers to test network performance, smart contract deployment, and user interaction capabilities. The testnet will focus on verifying the actual performance of 100 millisecond block times and stablecoin gas fees.

Q2 2025: Mainnet Live

Securitize CEO Carlos Domingo said in an interview that Converge plans to go live on mainnet by the end of Q2. The mainnet will support institutional and retail users, with an initial focus on promoting institutional-grade distribution of USDe (e.g., through SPVs) and the development of DeFi applications.

Q4 2025: Performance Upgrades

By the end of 2025, Converge plans to reduce block times to 50 milliseconds and increase throughput to 1 Gigagas/s to meet the needs of tokenized assets and real-time financial transactions. In addition, the network will introduce more developer tools, such as enhanced account abstraction features and smart contract templates, to lower the barrier to entry.

Fourth, Summary

The launch of Converge coincides with the wave of convergence of traditional finance and DeFi, and its high-performance architecture and compliance design give it an edge in terms of institutional adoption. For example, Franklin Templeton CEO Jenny Johnson said in January 2025 that a clear regulatory framework will drive the integration of TradFi with DeFi, and Converge’s KYC/KYB mechanism and permission validator model are a positive response to this trend.

However, Converge also faced challenges. The permission validator model may raise community concerns about the risks of centralization, and although its application-layer support does not require a permissionless interface, control of the core network is still concentrated in the hands of a small number of validators. In addition, the achievement of high-performance goals depends on the stability of Arbitrum and Celestia, and any technical bottlenecks may affect the progress of the roadmap.

Converge represents an opportunity that combines the potential of technological innovation with real-world applications. However, its success will remain to be tested over time, especially in terms of the regulatory environment, technological stability and ecological competition. In the year ahead, Converge’s performance will undoubtedly be closely watched.

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