What is @ConvexFinance?
Convex ( $CVX) is a yield optimization platform built on top of Curve Finance.
On Curve, liquidity providers (LPs) earn trading fees and $CRV token rewards. To boost those rewards, users must lock their CRV as veCRV (vote-escrowed CRV) for up to 4 years, a process that increases yields but requires long-term commitment and active management.
Convex simplifies this.
Instead of locking CRV yourself, you can deposit your Curve LP tokens on Convex. Convex aggregates CRV from many users, locks it as veCRV on their behalf, and uses that collective voting power to maximize boosts and yield for everyone.
In return, LPs earn boosted CRV rewards, additional CVX incentives, and don’t need to manage the complex vote-locking mechanics themselves.
844
1
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.