Convex Finance Overview

What is Convex Finance?

A DeFi yield aggregator platform built on top of Curve Finance, allowing CRV liquidity providers to boost their rewards without having to lock their own CRV tokens. The platform's native currency, CVX, can be minted pro rata for each CRV token claimed by liquidity providers on Convex Finance.

Main Features
Deposit liquidity, earn boosted CRV and rewards
Stake and earn additional CRV on top of CVX tokens and Curve trading fees
Stake CVX and earn more by staking rewards back into the platform
Earn Curve platform trading fees
Boost CRV rewards by depositing Curve LP tokens
Blockchains
Ethereum

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Frequently asked questions

To earn boosted CRV and rewards, you can follow these steps:

  1. Deposit liquidity: Deposit your Curve LP tokens to earn Curve trading fees, boosted CRV, and CVX tokens. This allows you to earn CRV with a better boost.

  2. Stake CRV: Put your CRV to work by staking it. By staking CRV, you can earn additional CRV on top of CVX tokens and Curve trading fees.

  3. Stake CVX: Stake your CVX rewards back into the platform to earn platform fees.

Here's how it works:

  • Step 01: Deposit any amount of CRV tokens into Convex.
  • Step 02: Receive cvxCRV tokens in exchange for providing CRV.
  • Step 03: Receive a share of the total CRV rewards.
  • Step 04: Earn Curve platform trading fees.

By staking cvxCRV, you can earn the usual rewards from veCRV, a share of 10% of the Convex LPs' boosted CRV earnings, and CVX tokens on top of that.

Please note that converting CRV to cvxCRV is irreversible, but you can stake and unstake cvxCRV tokens.

The benefits of staking CRV and CVX tokens include earning boosted CRV and rewards, earning additional CRV on top of CVX tokens and Curve trading fees, and earning platform fees by staking CVX rewards back into the platform. By staking cvxCRV, you can also earn a share of 10% of the Convex LPs' boosted CRV earnings and CVX tokens.

The platform distributes rewards in two ways:

  1. Share of total CRV rewards: Users receive a share of the total CRV rewards on the platform.

  2. Curve platform trading fees: Users can earn trading fees from the Curve platform.

Yes, you can earn Curve platform trading fees by depositing your Curve LP tokens and staking them on the Curve platform. By doing so, you can earn boosted CRV and CVX tokens in addition to the trading fees.

To boost your CRV rewards by depositing Curve LP tokens, you can follow these steps:

  1. Deposit any amount of CRV tokens into Convex.
  2. Receive cvxCRV tokens in exchange for providing CRV.
  3. Receive a share of the total CRV rewards.
  4. Earn Curve platform trading fees.

By staking cvxCRV, you can earn the usual rewards from veCRV, which includes the 3crv governance fee distribution from Curve and any airdrops. Additionally, you will receive a share of 10% of the Convex LPs' boosted CRV earnings and CVX tokens on top of that.

It's important to note that converting CRV to cvxCRV is irreversible. While you can stake and unstake cvxCRV tokens, you cannot convert them back to CRV. However, secondary markets exist to allow the exchange of cvxCRV for CRV at varying market rates.

To stake CVX and earn more, follow these steps:

  1. Connect your wallet to the Convex platform.
  2. Deposit any amount of CRV tokens into Convex.
  3. Receive cvxCRV tokens in exchange for providing CRV.
  4. Stake your cvxCRV tokens on the platform.
  5. Earn a share of the total CRV rewards and Curve platform trading fees.
  6. Stake your CVX rewards back into the platform to earn platform fees.

By staking CVX on Convex, you can earn a portion of the platform's revenue distributed as cvxCRV tokens.

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