What is Convex Finance?

Symbol: CVX · Market cap rank: #247

Short answer

Convex Finance (CVX) is a cryptocurrency currently ranked #247 by market capitalisation. It is classified as DeFi yield aggregator.

Source: isthiscoinascam.com

Overview

Convex Finance is a protocol designed to simplify Curve boosting. It lets Curve liquidity providers earn trading fees and claim boosted CRV without locking CRV themselves. Curve LP tokens can be deposited into Convex to receive enhanced CRV earnings and related liquidity mining rewards.

The protocol also supports CRV staking such that stakers receive trading fees and a share of boosted CRV received by liquidity providers. Curve DAO token stakers can earn additional boosted CRV and CVX tokens through Convex.

Scam-risk analysis

Convex Finance is rated BB on isthiscoinascam.com. Is Convex Finance a scam?

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