Convex FinanceCVX to IDR

What is Convex Finance?

A CRV token holder using Convex Finance can earn additional interest rewards and currency trading fees when trading their token on the Convex Finance platform. Therefore, Convex Finance enables boosted Curve staking.

The product is that - it is all there is to it. In an era when protocol offerings abound, you can expect more from Convex. Do not let this fool you, however. Convex's platform is successful because of its sheer simplicity and focused approach.

In reality, Convex is intended for only two types of people:

1. CRV holders: Tokens from the CRV platform can be staked for cvxCRV if you have them.
2. Curve liquidity providers: Curve liquid providers can boost and stake their tokens using Convex.

Convex is a better choice than Curve to see V or deposit LP tokens than Yearn. Rewards are boosted, so that's what matters.

Getting to that point will require a little knowledge of Curve Finance.

Convex Finance History (CVX)?

April 2021 marked the first introduction of the project. A simple and easy-to-navigate interface allows CRV holders and liquidity providers to maximize rewards. While the training was going on, the team launched the Convex Finance platform's native token, CVX, which would be used for airdrops, incentives, and tips.

Who created Convex Finance (CVX)?

Convex Finance's creators maintain anonymity, similar to Bitcoin. According to the company's website, blockchain technology has been attributed to several major problems. The founders of the company include experienced software developers looking for solutions. Since the platform has achieved its goal, the developers will likely reveal themselves in the future.

When the platform was launched in May 2021, total value locked (TVL) reached $21 billion in January 2022, representing $68 million in the first month of the platform's existence. Later, Convex Finance announced that in May of 2022, it had paid fees and rewards to its users totaling $872.8 million. 

 

How Does Convex Finance Work?

Curve Finance and Frax Finance are supported by Convex Finance, which runs on the Ethereum blockchain. Convex is accessed through CRV token deposits made by Curve liquidity providers. Token holders earn boosted rewards immediately by contributing funds to a liquidity pool. 

Investors can accumulate CRV rewards over time and claim them whenever they choose. Without a waiting period, investors can withdraw CRV tokens at any time. Deposits, withdrawals, and incentive tokens are free of charge at the Curve.
 

A similar boosted Curve staking reward is offered by Convex Finance. Convex Finance will provide CRV tickets to stalkers who deposit CRV tokens into their app. Shareholders can earn CVX rewards by taking part in the Convex platform fees. Through the Curve 3pool platform, stakers can also receive trading fees.

The developers of Convex Finance have found opportunities to apply the platform's technologies and features to other protocols and Curve liquidity providers and stakers. Now, Frax Finance can lock tokens by using Convex Finance. Its native cryptocurrency is the FXS token.

Is CVX a Good Investment?

In addition to providing boosted rewards to liquidity providers and stakers, Convex Finance supports Curve and Frax investments. Since it can assist other similar services in the future, it has extraordinary potential. These factors have contributed to CVX tokens' rising value since their launch and may continue to grow in value in the future.

CRV and FRX are directly linked to CVX's functionality. CRV and FXS tokens enable stakers to earn boosted rewards without long-term commitment through Convex Finance rather than requiring them to stake on Curve and Frax for long periods. This means that investors can use CVX for short-term and long-term investments without incurring expensive fees, making CVX a reasonable investment for both short-term and long-term holds.

CVX token value fluctuates considerably in the cryptocurrency market, which is common. Due to this, investors may see dips in value from time to time. To avoid taking a loss, it may be necessary to hold the tokens until the market value increases again.

Convex Finance (CVX) token matrices

Where is the Convex Finance (CVX) coin available?

Convex Finance (CVX)  is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below.

• Binance
• Coinbase
• MEXC
• Kraken
• CoinEx

You can check the whole list of exchanges here to buy Convex Finance (CVX)