The CVX price update as of now is $2.76. In the previous 24 hours, its trading volume was $26,660,020, and its value has increased by 14.08%. As of now, CVX's live market cap is $274,481,071, and it is ranked as the #223 on the Coincu. CVX has a circulating supply of 99,770,773 and a maximum supply of 99,770,773.

About Convex Finance

Convex Finance (CVX) is a protocol that has been developed to optimize CRV staking and increase profits for users.

Distinctive Features of Convex Finance

The Project's Objective

The main objective of Convex Finance is to simplify staking on Curve and improve the CRV lock system. It provides an opportunity for Curve.fi LPs to earn transaction fees and claim enhanced CRV without the need to lock their own CRV. This allows LPs to receive amplified CRV and liquidity mining rewards with minimal effort.

Unique Aspects Setting Convex Finance Apart

Convex Finance sets itself apart through its distinctive incentive structure. It focuses on accumulating as much Total Value Locked (TVL) as possible to establish a significant stake in Curve Finance. Convex Finance primarily caters to CRV holders and Curve liquidity providers, providing the following benefits:

1. CRV holders receive cvxCRV tokens for their CRV staking.
2. Curve LPs receive increased rewards for staking their LP tokens with Convex.

With the issuance of veCRV (vote-escrowed CRV) to liquidity providers, Convex Finance offers time-locked CRV tokens that offer augmented voting power and rewards. The duration of the lock-up period for the underlying CRV determines the level of rewards. Maximum rewards can reach up to 2.5 times the initial rewards, but it requires a substantial amount of liquidity. Convex Finance acts as a collective entity that pools the assets of individual stakers, enabling even small-scale investors to enjoy enhanced rewards that would otherwise be unattainable. Stakers earn interest on their provided liquidity, a portion of the Curve trading fees, and the boosted rewards provided by Convex.

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