Coins
21,049
Market Cap
$2,345.3 B USD
24H Change

-3.52%

24H Volume
$97.11 B USD
Dominance
BTC: 51.41%, ETH: 15.21%
ETH Gas
11 Gwei

CVX

Convex Finance

CVX

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$2.49 USD

N/A

(24H)

0.00003608 BTC

-1.63%

(24H)

Convex Finance Price Chart (USD)

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Market Cap (USD)

$236.34 M

24H VOLUME (USD)

$6.46 M

Circulating Supply

94.98 M CVX

Max Supply

100 M CVX

Total Supply

99.53 M CVX

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General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b


  • icon

    Solana

    BLvmrccP4g1B6SpiVvmQrLUDya1nZ4B2D1nm9jzKF7sz

About Convex Finance

Rank #246

Convex Finance Price Summaries

Latest Data

Convex Finance’s price today is US$2.49, with a 24-hour trading volume of $6.46 M. CVX is +0.00% in the last 24 hours.CVX has a circulating supply of 94.98 M CVX and a max supply of 100 M CVX.


What is Convex Finance?

Convex Finance is a platform created in response to the high transaction costs on the Ethereum network. It simplifies transactions on the Curve cryptocurrency market by providing a single interface, and allows Curve DAO Token (CRV) holders and Curve liquidity providers to earn extra interest incentives and Curve trading fees on their tokens. Using its CVX token, the platform also gives coin awards to cryptocurrency liquidity providers that use this DeFi protocol.

A brief history of Convex Finance

Convex Finance was introduced to the public in April 2021 as a DeFi platform “built to boost rewards for CRV stakers and liquidity providers alike, all in a simple and easy to use interface”. The project also introduced the Convex Token (CVX) as its in-house token, mainly used for incentives, airdrops, and rewards on the Convex Finance platform.

Out of a total maximum supply of 100 million CVX, Convex Finance allocated 50% of the amount for rewards on Curve liquidity pools, with 25% distributed over four years for liquidity mining incentives on DeFi pools such as CVX/ETH. The remaining 25% was split across the project’s treasury, investors, and team, as well as for airdrops.

The Convex Finance platform went live in May 2021 and was able to record US$68 million in total value locked (TVL) during that month. The platform reached TVL milestones of $1 billion in June 2021 and $10 billion in October 2021 before reaching its peak of about $21 billion in January 2022. The platform’s TVL as of May 2022 is above $5 billion.

In May 2022, Convex Finance announced that it had distributed a total of $872.8 million in fees and rewards to its users. The platform also became a partner of Frax Finance.

How Convex Finance works

Convex Finance is a DeFi protocol developed on top of Curve Finance with an aim to simplify staking on Curve. With the help of its native fee-earning token CVX, as well as the CRV-locking system, the platform allows Curve liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves. Convex Finance also differentiates itself from other DeFi platforms by charging no withdrawal fees and minimal performance fees.

What is Convex Finance used for?

Convex Finance is closely connected to Curve, as it seeks to boost rewards for liquidity providers. People who want to earn rewards may opt to supply liquidity, which aids the platform’s growth, and Convex Finance also offers other enticing rewards.

Specifically, Convex Finance has its own CVX token, and its users can stake CVX on the DeFi platform to earn a share of CRV earnings on Curve’s liquidity pools. People who stake CVX will receive a portion of the fees earned from Curve in the form of tokenised rewards. CVX holders can also vote on how Convex Finance allocates its tokenised rewards.

More about Convex Finance

Website

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CVX Price Statistics

Convex Finance Price

$2.49

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Currency Converter

Amount

CVX

CVX

1 CVX = 2.49 USD

Rate is for reference only. Updated

General Information

Social Channels

Contract Address

  • icon

    Ethereum

    0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b


  • icon

    Solana

    BLvmrccP4g1B6SpiVvmQrLUDya1nZ4B2D1nm9jzKF7sz

CVX Price Statistics

Convex Finance Price

$2.49

24h high / 24h low

N/A

7d high / 7d low

N/A

30d high / 30d low

N/A

90d high / 90d low

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All-time high / All-time low

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Trending

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