FAQ

Important note

This section explains what led us to build LiquidBoost, and Tangent, which is a spin-off of a previous project, called Convergence. Convergence’s products are now running under the LiquidBoost brand, which will be operated as an independent subDAO of Tangent.

Convergence dApp: https://app.cvg.finance/
Convergence documentation: https://docs.cvg.finance/

February 2024:

Convergence is launched on Ethereum mainnet, with the Stake DAO integration (liquid locker and boosted staking) fully operational.

July 2024:

The Convex Finance integration goes live, with a vlCVX wrapper, and boosted staking for cvxTKNs.

August 2024:

A vulnerability in the CvxRewardDistributor is exploited, leading to the unauthorized mint of all staking emissions. The exploiter then dumped all newly minted tokens, sending CVG to zero, and breaking some core components of the protocol.

Post-mortem: https://medium.com/@cvg_wireshark/post-mortem-08-01-2024-e80a49d108a0

Following the exploit, a vote has been proposed to the DAO, asking community members if we should organize a redemption of treasury assets to affected users, or pivot to Tangent, an entirely new project. Over 97% of voters leaned towards the pivot to Tangent.

Article explaining the vote: https://medium.com/cvgfinance/vote-for-convergences-future-c66a690ecae0

Snapshot vote: https://snapshot.box/#/s:cvg-finance.eth/proposal/0xa550dc09c2e30ee4f265dcaffa53ed412b857647aadf5e61b81e5181301f68b2

Since then, we have been developping Tangent alongside the community, and many other things have been voted by the DAO. Regarding Convergence’s staking products (liquid lockers and boosted staking), which are still functioning and safe, they are now operated under the LiquidBoost umbrella. LiquidBoost is now considered a Tangent’s sudDAO, and its products will continue to be maintained.

You can find all votes on our Snapshot space: https://snapshot.box/#/s:cvg-finance.eth.