What is Convex Finance? Convex Finance is a platform that enables Curve Finance liquidity providers to earn increased rewards without locking up CRV tokens. In this article Kriptokoin.com we will answer the question “What is Convex Finance”. In addition, we will also touch on other curious details about the platform.
What is Convex Finance?
Decentralized finance (DeFi) offers crypto asset holders the opportunity to generate passive income. DeFi does this through an automated market maker (AMM). The decentralized exchange Curve Finance, which enables the unauthorized exchange of digital assets, has included AMM in its protocol. Accordingly, the CRV token can be added to different liquidity pools by users and earn money by staking.
Convex Finance is the project to offer an innovative DeFi protocol, built on top of the fixed currency exchange Curve Finance. It provides additional income to its user with minimum effort. Thanks to the project, liquidity providers and CRV stakers are rewarded. CRV holders and liquidity providers receive rewards in the form of CVX. Additionally, Convex Finance has no withdrawal fees.
What is CVX Token?
Convex Finance’s cryptocurrency is CVX. Curve’s liquidity providers prorated for each CRV token requested from Convex. The CVX token offers its holders a share of Convex platform fees. However, in the future, token holders will also be included in Convex’s governance mechanism and will be able to vote on various issues.
What is the total supply and current price of Concex?
According to Coinecko data, the maximum supply of Convex Finance (CVX) is 100,000,000 CVX. The total supply of the project is 90,526,017 CVX, and the circulating supply of the project is 62,107,391 CVX. However, the last 24-hour trading volume of the project is $7,253,213 while its market cap is CVX of 595,065,608. The CVX token is currently trading at $9.75 on cryptocurrency exchanges. However, in January 2022, it rose as high as $60.09 and broke its own price record.
What is Convex Finance? How to get CVX?
The platform is currently traded on many major cryptocurrency exchanges. Users wishing to invest in the platform should open an account on one of the exchanges where Convex is traded. Exchanges that Convex is currently trading on are as follows: Binance, KuCoin, Gate.io, Huobi Global, Kraken, Poloniex, Phemex, MEXC, OKX, Crypto.com, Bitrue, Bitmart and CoinEx. People who want to invest in the platform should open an account in one of these exchanges we have mentioned above. Additionally, investors can deposit USDT etc into their wallets. must add a cryptocurrency.
