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Convex Finance

CVX

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About Convex Finance

CVX is the ERC-20 utility token of Convex Finance, which permits Curve Finance liquidity providers to earn boosted rewards. CVX tokens function as Convex Finance’s governance token, and can be locked in exchange for a portion of the platform's earnings.

Convex Finance (CVX) is a decentralized finance (DeFi) protocol that strives to compensate Curve liquidity providers for their participation on Curve without the need for staking liquidity there. Instead, liquidity providers can stake with Convex and receive boosted CRV and liquidity mining rewards. This approach seeks to provide CRV stakers with improved capital efficiency and positions Convex Finance as a participant in the ongoing "Curve wars". The protocol's function is to manage Total Value Locked (TVL) to gain control over Curve Finance, a large decentralized exchange (DEX) by TVL.

Convex Finance operates through a unique incentive structure. It targets CRV holders and Curve liquidity providers in two ways: CRV holders receive cvxCRV for staking their CRV, and Curve liquidity providers receive boosted rewards for staking their LP tokens with Convex. Convex Finance acts as a pool that aggregates the assets of individual stakers, allowing even low-level investors to stake their Curve Finance LPs with Convex and receive boosted rewards. Stakers are compensated for their provided liquidity, a share of the Curve trading activity, the boosted rewards from Convex, and CVX tokens. Additionally, CRV tokens can be staked to receive cvxCRV, which yields veCRV rewards, Convex trading activity, CVX tokens, and airdrops going to veCRV token holders.

The primary use case for Convex Finance is to provide a platform for Curve liquidity providers and CRV holders to earn rewards. By staking their CRV or LP tokens with Convex, users can receive boosted rewards that may not be attainable otherwise. This includes compensation for their provided liquidity, a share of the Curve trading activity, and the boosted rewards from Convex. Additionally, users can stake their CRV tokens to receive cvxCRV, which provides further rewards such as veCRV rewards, Convex trading activity, CVX tokens, and airdrops going to veCRV token holders. CVX tokens can also be used to participate in proposals in the Convex Finance protocol, providing users with a say in the protocol's governance.

Convex Finance was developed by an anonymous team of developers. Despite the anonymity of its creators, Convex Finance is a known protocol in decentralized finance. The protocol plays a role in the ongoing "Curve wars", a competitive race to gain control over Curve Finance, a large DEX by TVL. Convex Finance was audited by MixBytes to aim for its security. However, a bug in one of the smart contracts led to the re-deployment of the vote-locking contract and a temporary fluctuation in the value of CVX.

Market

Market stats

Market cap

$193.6M

Volume (24h)

$9.6M

Circulating supply

98.8M CVX

Typical hold time

16 days

Popularity

#243

All time high

$49.81

Market performance

Price change (1h)

+0.18%

Price change (1d)

-2.59%

Price change (1w)

-6.86%

Price change (2w)

-10.08%

Price change (1m)

-5.15%

Price change (1y)

-32.13%

Market benchmarks

Performance (1Y)

-31.13%

Vs. Market (1Y)

-65.22%

Vs. BTC (1Y)

-69.26%

Vs. ETH (1Y)

-53.82%

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Social

Some highlights about Convex Finance on social media

1,117 unique individuals are talking about Convex Finance and it is ranked #316 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Convex Finance has an average sentiment score of 3.3 out of 5. Finally, Convex Finance is becoming more newsworthy, with 0 news articles published about Convex Finance. This is a 0% increase in news volume compared to yesterday.

On Twitter, people are mostly bullish about Convex Finance. There were 51.52% of tweets with bullish sentiment compared to 14.14% of tweets with a bearish sentiment about Convex Finance. 34.34% of tweets were neutral about Convex Finance. These sentiments are based on 99 tweets.

On Reddit, Convex Finance was mentioned in 6 Reddit posts and there were 11 comments about Convex Finance. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.

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Overview

Contributors

1,117 people

Posts

125 posts

Dominance

0.06%

Volume rank

#316

Average Sentiment

3.3 out of 5

Twitter

Reddit

Comments

11

Coinbase Bytes

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Convex Finance is on the decline this week.

The price of Convex Finance has increased by 0.18% in the last hour and decreased by 2.59% in the past 24 hours. Convex Finance’s price has also fallen by 6.86% in the past week. The current price is $1.96 per CVX with a 24-hour trading volume of $9.63M. Currently, Convex Finance is valued at 96.07% below its all time high of $49.81. This all-time high was the highest price paid for Convex Finance since its launch.

The current circulating supply of Convex Finance is 98,773,939.98 CVX which means that Convex Finance has as total market cap of 98,773,939.98.

FAQ

What is the current price of Convex Finance?

We update our Convex Finance to USD currency in real-time. Get the live price of Convex Finance on Coinbase.

What is the market cap of Convex Finance?

The current market cap of Convex Finance is $193.64M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Convex Finance?

The all-time high of Convex Finance is $49.81. This all-time high is highest price paid for Convex Finance since it was launched.

What is the 24 hour trading volume of Convex Finance?

Over the last 24 hours, the trading volume of Convex Finance is $9.63M.

What other assets are similar to Convex Finance?

Assets that have a similar market cap to Convex Finance include Gas, Stride, Ocean Protocol, and many others. To see a full list, see our comparable market cap assets.

How many Convex Finance are there?

The current circulating supply of Convex Finance is 99 million.

What is the typical holding time of Convex Finance?

The median time that Coinbase customers hold Convex Finance before selling it or sending it to another account or address is 16 days.

What is the relative popularity of Convex Finance?

Convex Finance ranks 255 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Convex Finance?

Currently, 100% of Coinbase users are buying Convex Finance. In other words, 100% of Coinbase customers have increased their net position in Convex Finance over the past 24 hours through trading.

Can I buy Convex Finance on Coinbase?

Yes, Convex Finance is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Convex Finance guide.