What is the Convex Finance project?
Convex Finance is a platform built to allow liquidity providers Curve.fi to earn transaction fees and claim enhanced CRV without locking themselves in CRV. Liquidity providers can get enhanced CRV and liquidity mining rewards with minimal effort. Convex Finance will simplify staking on Curve, as well as the CRV lock system.
Highlights of Convex Finance
- If you want to stake CRV, Convex allows users to receive transaction fees as well as a portion of the additional CRV received by liquidity providers. This allows for a better balance between liquidity providers and CRV providers as well as better capital efficiency.
- Convex has no withdrawal fees and minimum performance fees used to pay for gas and distribute to CVX producers.
- CRV generators and liquidity providers also receive liquidity mining rewards in the form of CVX.
For CRV Staker
Convex rewards those who have staked CRV with a portion of the enhanced CRV on the Convex platform, making it the ideal destination for those who want to stake CRV to maintain liquidity (liquid):
- Earn part of Convex platform fees in CRV
- Earn trading fees from Curve platform (3CRV)
- Get cvxCRV tokens allowing anyone to exit their staked CRV position
- Get CVX rewards
- Get Airdrop from veCRV like EPS
For liquidity providers
Convex allows liquidity providers to earn transaction fees and claim enhanced CRV without locking the CRV themselves. Liquidity providers can get enhanced CRV and liquidity mining rewards with minimal effort:
- Earn claimable CRV with high gain without locking any CRV
- Earn rewarded CVX with no deposit and withdrawal fees
- No fees for additional incentive tokens (SNX, etc.)
For Stakers CVX
CVX stakers will get more CVX
Staking instructions for LP . tokens
Get your Curve.fi LP tokens and stake them with Convex Finance
Step 1: Navigate to the tab “Stake”
Step 2: Scroll down to section “Stake Curve LP Tokens” page and select the LP token from the list you want to stake on Convex.
Step 3: Enter the amount of LP tokens you want to stake. If this is your first time using the platform, you will have to approve your LP tokens for use with the contract by pressing a button “Approve”. Once that transaction has been confirmed, you can press the . button “Deposit and Stake” to deposit your LP tokens into Convex.
Step 4: Users can withdraw their LP tokens at any time using the tab “Withdraw” on their selected group.
Guide to staking CRV
Model of Converting CRV to cvxCRV and staking on the platform
See below for detailed instructions
Step 1: Navigate to the tab “Stake”
Step 2: Scroll down to section “CRV Conversion” of the page.
Step 3: Enter the amount of CRV tokens you want to convert to cvxCRV. If this is your first time using the platform, you will have to approve your CRV token for use with the contract by pressing the “Approve” button. Once that transaction is confirmed, you can press the “Convert and Stake” button to convert your CRV to cvxCRV
Tokenomic of CVX token
What is cvxCRV (VeCRV Tokenization)?
- Tokenization of deposits to the pool, calculated at a 1:1 ratio for each CRV locked in the platform.
- Stake to get platform rewards (CRV), CVX and veCRV (3Crv)
What is Convex Token (CVX)?
CVX is the token of the Convex Finance platform. Stake to receive part of the platform fee in the form of cvxCRV. In the future, CVX will be used for voting, such as that weight.
CVX is minted at Pro-rata rate for each CRV token confirmed by CRV liquidity provider on Convex.
Mint ratio CVX/CRV was cut by 100k CVX
Code of mint model
Information about the CVX . token
- Token name: Convex Finance
- Ticker: CVX
- Blockchain: Ethereum
- Standard Tokens: ERC20
- Contract Address: 0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b
- Total supply: 100,000,000 CVX
Token Allocation
- Investors: 3%, Delivery more than 1 year. 100% of the investment fund is used to boost the pre-seed and is locked forever (no cvxCRV generated).
- Budget: 10%, Distributed gradually in 1 year. Used for future incentives or other community activities
- Team: ten%
- veCRV Voters: 1%, Airdrop can confirm instantly
- Holders of veCRV: 1%, Airdrop can confirm instantly
- Liquidity Mining: 25%, distributed over 4 years. Offers for CVX/ETH and cvxCRV/CRV nhómgroups
- Liquidity Offer Bonus: 50%, reward rate received is based on stake ratio CRV
How to earn and own CVX
Currently CVX is traded on Uniswap and on 0x protocol. In addition, you can join staking and liqudity provider on Convex to mint tokens.
Partners and investors
Updating
CVX Token storage wallet
CVX is an ERC-20 token, you can save it on exchanges that have listed this token. And you can store it in the following wallets:
- Coin98 Wallet
- Trust Wallet
- Metamask Wallet
The future of Convex Finance, should I invest in CV?
Covex Finance is a platform that allows to increase additional profits on the platform. This allows locking. All information in the article is information compiled by Coinlive and does not constitute investment advice. Coinlive is not responsible for any direct and indirect risks. Good luck!