FTX affiliate: Trade on FTX exchange and get 5% of your trading fees back.

Categories
Derivatives

What is the CVX token is used for?

How Convex uses CVX token. Convex is a platform for tokenizing veCRV (locked voting CRV on Curve Finance) to not have to lock CRV.

What is the CVX token?

The governance and yield farming token of Convex Finance.

What is the CVX token used for?

  • Voting
  • Staking for platform fees

What is Convex Finance?

Convex is a platform for tokenizing veCRV (locked voting CRV on Curve Finance) to earn yield and not having to lock tokens.

How Convex works

Convex is built on top of Curve Finance.

  • On Curve Finance holders of Curve tokens lock them in the DAO to receive veCRV.
  • veCRV can be used to boost their APY from providing liquidity on the pools.
  • veCRV is locked for 1 week – 4 years.

More on Curve boosting here.

On Convex users can deposit CRV and receive cvxCRV which is tokenized veCRV.

cvxCRV can be staked to receive

  • Platform fees(CRV)
  • CVX
  • veCRV rewards(3Crv).

CVX can be staked to earn

  • Portion of CRV earnings
  • Fees for cvxCRV

Fees

16% fee on CRV revenue by LP’s.

  • 10% – cvxCRV stakers – as CRV
  • 5% – CVX stakers – as cvxCRV
  • 1% – Harvest caller – as CRV

Tokenomics

Max supply: 100 000 0000

  • 50% Curve LP
  • 25% Liquidity mining
  • 9.7% Treasury
  • 1% veCRV holders
  • 1% veCRV holders
  • 3.3% Investors
  • 10% Convex Team

Docs

Similar projects

CVX token price

Crypto tax affiliate

Koinly was the only service that actually solved our problem with DeFi and Crypto tax.

 

Affiliate: Learn more about blockchain and crypto with courses at Skillshare.