Convex Finance is a return optimization and automation protocol built on Curve Finance. It allows users to receive increased CRV and liquidity mining rewards. CVX is Convex Finance’s native token for staking, charging performance fees, and voting for governance.
Convex Finance (CVX Coin) is a decentralized platform. You can make transactions in the decentralized application of the Curve, view transactions, and have a boost in Curve rewards.
The distribution of the CVX cryptocurrency in the Convex is like a reward to liquidity providers, alongside the interest they get. In addition, the distribution of the transaction fees in Convex is toward CVX Token and CRV token holders.
It is also possible to benefit from the Curve “Boost” mechanism from the CRV cryptocurrencies owned by Convex DAO at a certain commission rate.
Convex Finance (CVX) is a creative DeFi protocol built on stablecoin exchange Curve Finance. In essence, Convex rewards Curve liquidity providers and CRV stakers with additional DeFi returns. Convex Finance offers increased Curve staking.
The simplicity and single-minded focus of offerings from Convex make this platform successful. In addition, there are two types of investors that Convex is targeting:
To understand Convex Finance it is necessary to know Curve DAO Token, a fixed value crypto exchange. The Curve Token earns transaction fees for holders and aims to distribute Curve (CRV) rewards for 350 years.
Convex Finance facilitates transactions on Curve crypto exchange and partially Yearn Finance (YFI) and offers a single interface. It also distributes CVX crypto rewards to cryptocurrency liquidity providers for using this protocol.
Convex Finance is the product of the Curve team due to transaction fees on the Ethereum network. The team has also reduced transaction fees by consolidating complex transactions on a single platform.
A user-friendly interface has been created by reducing the operations performed in tens of tabs in Curve to a few tabs in Convex. This interface is possible to manage, and these transaction fees are easy to save.
Holders can make investments, which you can do in three or four transactions in Curve. It has the CRV reward boost mechanism. This mechanism is absent even in Curve.
You can give your fixed-value cryptocurrencies (USD, USDT, USDC, BUSD, LUSD, ALUSD, etc.) and synthetic Ethereum (ETH) and Bitcoins to this platform and get both CRV and CVX rewards.
One hundred million copies of Convex are getting issued in total. 10% of the CVX tokens are for the team, but they will get distributed to almost all users using this platform.
Decentralization has been achieved in the crypto money launched by airdrop distribution on the Curve platform and to users who have locked Curve.
Although this platform became locked with three billion dollars in the first two weeks has managed to attract many users. The platform, which managed to collect three billion of the approximately ten billion dollars locked in Curve in just two weeks, also offers a high-profit promise with its rewards.
The functions promised by the content are pretty straightforward, but all aim to provide a simple alternative channel for Curve contributors to get more giveaways with minimal effort.
CRV holders get gifts for staking in this protocol if they hold their CRV token. The benefits are listed below:
Liquidity creators can earn structured amounts of income and request raised CRV before pausing the CRV for themselves. Liquidity generators can gain CRV and liquidity mining gifts optimized with minimal effort;
CVX is the native token abbreviation symbol of the network protocol. Cryptocurrency has the following usage purposes;