Convex Finance
Current price
$1.88
−3.59%24h
LiveUpdated 28s ago
TodayConvex Finance falls 3.6%, in line with the market.
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View as table
| Time | Price |
|---|
Change by period
- 1 hour−0.27%
- 24 hours−3.59%
- 7 days−17.99%
- 30 days−4.08%
- 1 year−24.90%
Convex Finance's move in context
Moving with the market
−3.59% today, close to the whole market (−3.27%). Nothing specific to Convex Finance stands out in the price.
Part of a slide
−18.0% over 7 days and −4.1% over 30 days: the recent move continues the monthly direction.
This is analysis of past prices, not a prediction or financial advice.
About Convex Finance
Overview
Convex Finance is a groundbreaking decentralized finance (DeFi) platform designed to optimize and enhance the yield farming experience for users of Curve Finance. The core mission of Convex Finance is to simplify the liquidity provision process by allowing users to earn rewards on their assets while minimizing the complexity associated with staking and governance. Convex Finances stands out due to its unique approach, enabling users to maximize their earnings without requiring them to lock their assets in Curve’s native governance token, CRV. Instead, users deposit their assets into Convex, which provides liquidity to Curve while allowing them to earn additional rewards via boosted CRV yields.
Technical Features
Convex Finance operates on Ethereum and leverages the security and capabilities of the Ethereum network to provide its services. The platform utilizes a smart contract architecture that automates various processes, including yield distribution and liquidity management, ensuring transparency and security for users' funds. One of the key technical features of Convex is its innovative use of a CVX token, which is earned by users providing liquidity. CVX holders can stake their tokens to receive a portion of the platform’s fees and CRV rewards, creating a self-sustaining cycle of incentives. Convex also incorporates the unique mechanism of locking Curve’s CRV tokens to boost rewards, enhancing the returns for liquidity providers while reducing sell pressure on CRV.
Use Cases
Convex Finance primarily operates within the DeFi ecosystem, providing users with enhanced yield farming opportunities. One of its primary use cases is facilitating higher returns for liquidity providers on Curve Finance without the complexities associated with governance. Additionally, Convex makes it easier for users to participate in the liquidity provision process, as they can deposit stablecoins or other assets and receive consistently higher yields. The platform also offers governance features where CVX token holders can participate in decision-making processes affecting the future of Convex and its protocols. Furthermore, the structure of Convex makes it beneficial for institutions and individual investors looking to optimize their returns in a decentralized manner.
Development Background
Convex Finance was launched in 2021 by a team of developers with extensive experience in blockchain technology and DeFi. The project emerged out of a demand for a more user-friendly approach to earning rewards on Curve Finance. Since its inception, the platform has seen significant growth, attracting millions in liquidity and fostering a vibrant community of users. The team has continuously delivered updates and improvements, including various integrations with other DeFi protocols, further extending its capabilities and appeal in the DeFi landscape.
Community and Ecosystem
The Convex Finance ecosystem comprises a diverse community of users, developers, and liquidity providers who actively participate in the growth of the platform. Community engagement is critical, with various forums and social media channels allowing users to discuss strategies and share experiences. Moreover, Convex has established partnerships with several DeFi projects, amplifying its reach and enhancing user opportunities. Applications built around Convex include yield aggregators and analytics platforms that leverage its data to optimize users' earnings.
Future Potential
The future of Convex Finance looks promising, driven by its innovative technology and solid use cases within the DeFi space. As DeFi continues to evolve, Convex's focus on user-friendly yield farming and liquidity provision positions it well to capture a significant portion of the market. Upcoming features on its roadmap include more integrations with other DeFi protocols, potential cross-chain capabilities, and further enhancements to its governance model, all of which may contribute to the sustained growth of the platform and its community. With the increasing adoption of DeFi solutions, Convex is well-positioned to maintain its trajectory and expand its impact on the decentralized finance ecosystem.
Convex Finance market
- Position by market cap among the coins we track.
- #131
- Position by market cap among the coins we track.
- Price × coins in circulation. It measures a coin's size, not its quality.
- $187.17M
- Price × coins in circulation. It measures a coin's size, not its quality.
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- Low $1.78High $1.97
- The lowest and highest price in the last 24 hours. The dot marks the current price.
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- $60.09
- Now 3% of itReached 1 Jan 2022 · Needs +3,100% to get back
- The highest price this coin has ever reached. The bar shows today's price as a share of it.
- Coins that exist now and can be traded.
- 99.67M CVX
- 100% of max
- Coins that exist now and can be traded.
- Every coin created so far, minus any destroyed, including coins that are locked up.
- 100M CVX
- Every coin created so far, minus any destroyed, including coins that are locked up.
- The most coins that can ever exist. Some coins have no limit.
- 100M CVX
- The most coins that can ever exist. Some coins have no limit.
Convex Finance converter
1 Convex Finance = $1.88
