Convex Finance is currently trading at $3.5598, after a price change of 2.75% in the last 24 hours.
Ranked as cryptocurrency #106 by capitalization today, CVX market cap is valued at $258,751,166. CVX trading volume reached $7,952,196 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on CVX coin price prediction page.
What is Convex Finance?
Convex Finance is a DeFi protocol based on Curve that offers returns to liquidity providers and token stakers. The platform enables Curve.fi liquidity providers to earn trading fees and boosted liquidity without fixing CRV. Convex Finance also runs on the Ethereum blockchain. The decentralized application is thus supported on Ethereum wallets.
CVX is the native token powering Convex Finance. There are 52,623,714.24 circulating CVX from a total supply of 85,496,227 and a maximum hard cap of 100 million. The tokens are minted whenever users redeem CRV. The coin is used for paying liquidity providers with mining rewards.
CVX holders can participate in the governance of the Curve system courtesy of the veCRV tokens held by Curve Finance. The protocol also hosts cvxCRV; a tokenized veCRV pegged at a 1:1 ratio. The voting is held through Snapshot, and a voter must fix CVX coins for a specific period to be eligible. The locked assets are not accessible until 16 epochs have passed. The voting rights can equally be delegated to other addresses or to the Convex Finance team.
Convex Finance was launched in 2021