I’ve been asked ad nauseam if I’m “still bullish on Conv”? So please refer to this:
Short answer: Yes, long term bullish.
Long answer:
A perfect storm of shit has hit them hard, DeFi (except DAOs) hasn’t been sexy in 7 months, the market is bleeding, moonbeam and Moonriver (which it’s tied to) are sinking and they’ve only had like 3/4 launches in 9 months, which is bad for token demand. Apy is poor & marketing could be wayyy better. All these factors have obliterated the price.
But Convergence’s value proposition is v sexy to me - Web3 Wall Street. Every decent VC got in this for a reason. Pantera, GBV, Alameda, Kenetic & NGC.
Moonbeam’s launch should give them a great uplift in the mid-term and hopefully they will have better and more regular initiatives. But really it’s a waiting game for value to find this over time. I will be holding this until the big blow off top for this bull market.
Hope that’s answers this question definitively!
Suppoman