Convex Finance is a "one-stop CRV pledge and liquidity mining platform" dedicated to simplifying the process of using Curve. As another revenue aggregator on the Ethereum chain, Convex Finance aims to promote the CRV ecosystem through CVX tokens, simplifying the process of CRV lock-in and pledge, and improving the rewards of CRV holders and liquidity providers through an easy-to-use interface.

The vision of Convex Finance aims to facilitate the development of the CRV ecosystem by simplifying the process of Curve and CRV lock-in and pledge through CVX tokens, and improving the compensation of CRV holders and liquidity providers through an easy-to-use interface.

The total lock-up volume of Curve, the leading project of stablecoin exchange circuit, has also been rising all the way up to 10 billion usd. Especially since "May 19", even though the secondary market fluctuates obviously, the amplitude of lock-up volume of Curve is smaller than that of other DeFi leading protocols, and the lost ground is quickly recovered after the market stabilizes. Curve hasn't been perfect, though, and its aesthetically retro UI and anti-human pledge logic have long put off users. Launched on May 18 last year, Convex Finance aims to make up for Curve's shortcomings in user experience.

As the DeFi market approaches maturity, more and more projects with large lock-in volumes and stable interest rates have been established. Curve.fi is one of the leading representatives of stable returns, and Convex Finance has further optimized curve. fi's returns. Convex Finance is a platform to reward CRV shareholders and liquidity providers, all inan easy-to-use interface. 1. Users can pledge a CRV on the Convex platform to obtain a cvxCRV immediately, eliminating the time function of veCRV, and freeing liquidity for users. 2. The Convex agreement allowed cvxCRV to flow, and the CVX token was used as an incentive to build a cvxCRV/CRV liquidity pool to improve liquidity.

Token name: CVX Total tokens: 100 million Token distribution: 50% (50 million) are Curve LP awards, distributed directly on a pro rata basis; 25% (25 million) for liquidity mining awards, support CVX/ETH and cvxCRV/CRV trading pools, distribution period of 4 years; 10% (10 million) is the incentive for the Founding team of Convex, which will be locked for one year after the launch of the product; 9.7% (9.7 million) for Treasury reserve, locked in for one year for future community incentives or other community activities; 3.3% (3.3 million pieces) were distributed to investors, all locked up for one year (this part of CVX is not cast by cvxCRV); 1% (1 million CVX) were airdropped to veCRV token holders; 1% (1 million CVX) was awarded to the users who participated in the Governance vote for Convex to be included in the Curve.fi whitelist.

By pledging CVX, users can obtain part of the Convex Platform Fee (cvxCRV) and governance rights (including the decision on the weight of the issuance of Curve Gauge liquidity rewards).

1. Earn transaction fees: Users deposit their Curve LP tokens to earn Curve transaction fees, enhanced CRV and CVX tokens. Boost is pooled by CRV pledgers, so users don't have to worry about locking themselves out. 2. Pledge reward: To make CRV tokens work, users can pledge and earn additional CRV in addition to CVX tokens and Curve transaction fees. 3. Platform fees: Pledge CVX and earn more, put your CVX rewards back on the platform and earn platform fees.

1. Convex allows the liquidity provider to earn transaction fees and receive accelerated CRV benefits without locking the CRV itself. Liquidity providers can earn increased CRV returns and liquidity mining rewards with minimal effort. 2. Convex has no withdrawal fee, and has the lowest management fee compared with other platforms. LPs will receive a 16 per cent fee from LPs, while LPs will receive a 2 per cent management fee and 20 per cent of profits from LPs. 3. CRV pledgers and liquidity providers also receive liquidity mining rewards in the form of CVX.

The advantage of Convex Finance lies not only in the improvement of the liquidity of cvxCRV compared with veCRV, but also in the fact that Multiple funds can be collected to improve the liquidity returns in Curve. This is not difficult to understand. Small retail investors could not obtain enough veCRV to improve the returns of the liquidity pool. Once again, Convex Finance acts as a bank to bring together scattered funds and focus on "big things", enabling users to enjoy accelerated returns without even locking up CRV.

When The LPS was launched in May, the DeFi community noted the similarities between LPS and Yearn and saw them as competitors. Because Curve is such a powerful source of DeFi revenue, so much of The Vault relied on CRV's strategy. There even seems to be a race between the two agreements to see who can attract more CRVS. In less than a month, The number of CRVS that Had been locked exceeded that of Yearn. The value proposition offered by Convex is clear -- it can improve returns for pledge-holders of CRV and Curve LP at a lower cost than Yearn, with the added benefit of CVX liquidity mining incentives. The disadvantage of LPS over Yearn is that its returns do not automatically compound.

CVX is the Native platform token for Convex Finance. Pledge CVX to obtain platform fees. Binance has been confirmed to be on the shelves at present. It is just a matter of time, and the potential cannot be underestimated.

By resolving the pain points of using Curve, Convex Finance has attracted more and more users. At the same time, the emergence of Convex Finance will also promote the continuous increase in the number of CRV lockers, and people's optimistic expectation of CRV coin price will further increase the number of users.