Convex Finance (CVX)
- Category: Yield Aggregator
- Coin Launched: August, 2020
- Resources: White Paper
- Official Website: Convex Finance
- Reddit: Convex Finance
About Convex Finance
Convex is a protocol that simplifies Curve boosting experience in order to maximize yields. Convex allows Curve liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves. Liquidity providers can receive boosted CRV and liquidity mining rewards with minimal effort.
CONVEX History / Information / Buying / Staking
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CONVEX HISTORY
Convex Finance (CVX), which launched in 2021, is one such platform. It's an incentive-based DeFi project built on top of Curve, a community governed decentralised exchange focusing on stablecoins.
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HOW CONVEX WORKS
Convex Finance (CVX) is an inventive DeFi protocol built on top of stablecoin exchange Curve Finance. At its core, Convex rewards Curve liquidity providers and CRV stakers with additional DeFi yields. The aggressive push by Convex to lock up as much Curve liquidity as possible has thrown the protocol into a DeFi war with Yearn Finance. Both projects need all the CRV tokens they can get to keep increasing interest rates for Curve LPs.
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CAN YOU STAKE CONVEX
You can stake your CRV tokens on Convex and receive cvxCRV in return. cvxCRV tokens give you a claim to:
veCRV rewards from Curve exchange
A slice of Convex platform earnings
CVX tokens on top of everything else
Airdrops to veCRV holders -
COINS SIMILAR TO CONVEX
Direct competition to Aave which are considered similar coins are:
NEXO AAVECELSIUS NETWORK COMPOUNDCURVE FINANCE
