What is Convergence RFQ?

Convergence RFQ is an on-chain crypto trading platform that will support both spot and derivatives.

RFQ, short for request for quote, is a method where buyers request price quotes from sellers. This method differs from the central limit order book approach used by centralized exchanges and the automated market maker method used by decentralized exchanges. In CLOB, buyers and sellers place orders at specific prices, and trades are executed when matching orders meet. AMM, on the other hand, is an algorithmic system that facilitates peer-to-peer trading by automatically adjusting asset prices in response to fluctuations in supply and demand.