Convex Finance (CVX) is a decentralized finance (DeFi) platform built on Curve Finance, designed to optimize rewards for liquidity providers and CRV stakers.
Launched in 2021, Convex Finance allows users to maximize their yields in the Curve ecosystem without the need to lock their CRV tokens directly in Curve.
Main features:
Yield optimization:
Convex Finance allows Curve liquidity providers and CRV stakers to earn additional yields without the restrictions associated with traditional staking in Curve.No withdrawal fees:
The platform does not charge fees for withdrawing funds, making it more attractive for users seeking flexibility in their investments.User-friendly interface:
Convex offers a simple and easy-to-use interface, facilitating user participation in yield farming and staking opportunities.
Utilities:
CVX Token:
It is the native token of Convex Finance, used to reward platform users. CVX holders can also participate in the governance of the protocol and receive a share of the generated profits.cvxCRV:
Users who stake CRV in Convex receive cvxCRV, a token that represents their stake in the platform and can be used in strategies within the DeFi ecosystem.
Technical document:
Convex Finance has a whitepaper that details the architecture of the protocol, its features, and economic mechanisms on its official website.
Annual price evolution of Convex Finance (CVX):
This is a list of the approximate price of CVX at the end of each year since its launch:
2021: $50.00
2022: $3.00
2023: $5.92
2024: $6.15 (as of December 15)
* Convex Finance has established itself as a key tool for Curve Finance users looking to maximize their yields efficiently and without complications.
Thanks to its innovative model and integration with Curve, Convex remains a relevant platform in the DeFi ecosystem.
