Convergent

LST backed stablecoin ⚞ • powered by @jito_sol and @PythNetwork on @solana
📍CA: B7zNKphr8fjczB71oi9uF9pCd5XSNJvBn78TVF7kpump

[Convergent @convergent_so]

Convergent's Fair Launch: Redefining Stablecoin on Solana

With over $8B in LST value and JitoSOL leading at 41.5% market share, @Solana has quietly become the most efficient yield machine in crypto. But until now, that power has been capped.

We’re building Convergent to fix that.

[SolanaFloor @SolanaFloor]

📊Solana Data Insights: Liquid staked $SOL hits a record 57M, now 13.6% of all staked SOL

@jito_sol faces rising competition from bnSOL as CEX-issued LSTs surge past $2.8B TVL

Full breakdown by @ario_57_ 👇

• Solana’s LST market cap grew 93.6% from $6.02B in March to $11.66B in August, a new high since January.

• LST penetration rose to 13.65% of all staked SOL (418M), up 0.43% month-over-month.

• LST pools lead with 51.4% market share; CEX-issued LSTs hold 24.1%, validator-issued LSTs 18.8%.

• $bnSOL surged to $2.3B market cap (20.2%), challenging $JitoSOL’s $2.97B lead (26%).

• @LayerZero_Core's $dzSOL jumped to $620M market cap, reaching 5.4% share since January launch.

• Over 561K $bnSOL added in 7 days; $dzSOL up 5.6K. $JitoSOL supply fell 143K, $dSOL dropped 126K.

• In 90 days, $dzSOL supply grew by 3M, $bnSOL up 2.4M. $JitoSOL lost over 3M, leading declines.

• CEX-issued LST TVL surpassed $2.8B, with Bybit’s bbSOL and @binance's bnSOL fueling growth.

• LST adoption in DeFi, lending, and trading is rising, but native staking remains dominant.

Subscribe for the full breakdown👇
https://t.co/pk3rYTIYPv

[Convergent @convergent_so]

Big month for @jito_sol →
• VanEck JitoSOL ETF S-1 filed
• BAM live on testnet
• JIP-24 proposes 100% Block Engine fees to DAO
• JitoSOL now integrated with Anchorage & SollPay

JitoSOL is core to $USV. More infra, more legitimacy, more composability.

[Jito @jito_sol]

August Monthly Roundup is LIVE on the Jito Network blog!

TL;DR
✅ VanEck JitoSOL ETF S-1 Filing
✅ BAM testnet LIVE
✅ Signed DEF letter to Congress
✅ New JIPs in community discussion
✅ Anchorage Digital's Porto added JitoSOL
✅ SollPay integrated JitoSOL staking
& more!

[Solana @solana]

BREAKING: The U.S. Commerce Department will begin distributing GDP data on Bitcoin, Ethereum, and Solana 🔥🔥🔥

Pyth Network will help verify economic data onchain.

[Convergent @convergent_so]

Both unlock $SOL staking + MEV rewards. But only Convergent lets you mint a stablecoin ($USV) with those rewards still flowing in.

🔹 Stake with Jito → You get $JitoSOL, a liquid staking token that earns yield.
🔹 Mint $USV with Convergent → You deposit $SOL and mint a stablecoin backed by $JitoSOL. No interest. No reward haircut. Fully composable in DeFi.

💠 0% Interest, 100% Yield
Mint $USV at 0% interest while your SOL keeps earning. Your staking + MEV rewards flow back to you automatically, no fees taken.

💠 USD Stability + SOL Exposure
USV gives you the best of both worlds: stablecoin liquidity + native SOL yield. It’s non-rebasing, yield-bearing, and natively DeFi-ready.

💠 Plug into Solana DeFi
Use $USV across lending markets, LPs, or yield strategies. It acts like a stablecoin, but works like a yield engine, powered by $JitoSOL.

💠 Jito x Convergent: Stronger Together
USV is collateralised by $JitoSOL, fusing Jito’s staking infra with Convergent’s stable liquidity layer. It’s how we move toward a faster, yield-native Solana economy.

[Convergent @convergent_so]

The launch of FRNT, the first U.S. state-issued stablecoin on Solana, marks a major regulatory milestone.

For $USV, it signals what’s ahead: more compliant, onchain dollar primitives.

As states innovate with tokens like FRNT, $USV continues building programmable stablecoin infra for a truly decentralised future.

[Solana Daily @solana_daily]

🚨 The first U.S. state-issued #stablecoin is launching on #Solana.

The Frontier Stable Token (FRNT) - fully backed by the U.S. dollar - is developed and issued by the Wyoming Stable Token Commission.

[Convergent @convergent_so]

Solana just hit 104,529 TPS, driven by a single validator.

For Convergent, it’s a reminder that infra at this scale needs to stay composable, decentralized, and production-grade under pressure.

[dr cavey phd ∿ @cavemanloverboy]

At 11:39:21 UTC today, the Cavey Cool validator produced several blocks on Solana Mainnet-Beta with a large number of transactions, resulting in a peak burst of 104,529 TPS.

[Convergent @convergent_so]

Congrats to @jito_labs and Solana core contributors on the BAM testnet launch.

- BAM’s TEEs and attestations enable tamper-proof transaction ordering, shielding $USV from MEV and mempool attacks, boosting institutional security.
- Programmable sequencing means future $USV plugins could optimise routing, capital efficiency, or FX logic.
- BAM fits Convergent’s mission: build decentralised, yield-native money that can compete with CeFi on speed, execution, and security.

Let’s build 🧱

[Jito @jito_sol]

BAM is live on testnet

We’ve rolled out with an initial set of validators!

This is the first step toward bringing private, verifiable block building to Solana.

🌐 Open testnet → coming soon
🔥 Mainnet → right after

Get involved 👇 https://t.co/67C3UZ2tI4

[Convergent @convergent_so]

Liquid staking = not a security, says the SEC.

This clears a path for institutional adoption of yield-backed assets like JitoSOL and stablecoins like $USV that are built on top of it.

Decentralised, compliant, and DeFi-native.

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 SEC declares crypto liquid staking activities are not considered securities.

[Convergent @convergent_so]

Why does MEV reform matter for stablecoins?

Because every $USV is backed by JitoSOL, and every JitoSOL is exposed to MEV.

BAM secures that flow, giving Convergent a fairer, more predictable yield layer to build on.👇

[Jito @jito_sol]

𝘽𝘼𝙈 𝙧𝙚-𝙞𝙢𝙖𝙜𝙞𝙣𝙚𝙨 𝙎𝙤𝙡𝙖𝙣𝙖.

To understand how, let's first go through the current state of MEV on Solana:
• Modified validator clients are sandwiching trades.
• Private mempools hide predatory behavior.
• Bad validators are nearly impossible to remove.
• Institutional players can't touch DeFi because there's no transaction safety.

𝙏𝙝𝙚 𝙎𝙤𝙡𝙪𝙩𝙞𝙤𝙣:

BAM Node Operators - a second set of nodes running TEEs (Trusted Execution Environments) aka secure hardware that processes transactions in cryptographic enclaves. Transaction ordering moves from validators to BAM operators, where it happens inside these protected environments that attackers can't penetrate.

Cryptographic Attestations - every transaction bundle comes with a tamper-proof receipt showing exact ordering. When validators try to reorder for profit, the entire network sees it.

Value-Adding Plugins - instead of extracting value, developers can now create value. As an example, the Market Cancel Priority plugin lets market makers cancel stale orders faster when markets move. Resulting in tighter spreads, better liquidity, more efficient markets for everyone.

🔗 to "Understanding BAM" article 💥 👇️

[Convergent @convergent_so]

JitoSOL just became the first liquid staking token integrated into a U.S. ETF via the REX-Osprey Solana + Staking ETF (SSK)

That same yield engine backs $USV. Convergent uses JitoSOL to back $USV: a yield-native, decentralized stablecoin built for the next era of onchain finance.

[Jito @jito_sol]

JUST IN 🚨
JitoSOL is now integrated in the REX-Osprey Solana + Staking ETF!

Making it the first LST integrated into a U.S. ETF!

@REXShares $SSK remains the only U.S.-listed ETF offering direct Solana exposure with protocol-level staking rewards.

More details ⤵️

[Convergent @convergent_so]

@NdnAChUhLlfogkx Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

With mainnet just around the corner, $CVGT — the Solana-native protocol behind the decentralized stablecoin $USV — is getting noticed, including some of the biggest names in the Mandarin-speaking community.

We're launching a giveaway open to everyone: whether you're already a holder or brand-new to $CVGT:
1. Follow our official X @convergent_so
2. Drop your SOL wallet address
3. Share a screenshot of any $CVGT transaction you've made
You'll be eligible for a random airdrop ($CVGT or $SOL).
Plus, on July 29, 2025, we're randomly selecting one lucky $CVGT holder to win a bonus of 10 SOL!

Expect more holder-exclusive rewards as we roll out the mainnet.
Stay tuned for updates: we're almost there!

[Convergent @convergent_so]

@aimi560115 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@KeHenryA8 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@caoyiff9644 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@kaikee40758986 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@zgwsbtc Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@jssr021118 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@LaurenChar67741 Check your airdrop on Streamflow! 🥳

[Convergent @convergent_so]

@icebeer03223446 Check your airdrop on Streamflow! 🥳