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Convex Finance

Vote locking is here!

CVX voting is finally here! CVX holders can now have their say in how Convex Finance allocates it’s veCRV voting power in the bi-weekly Curve.fi gauge weight votes. You can lock your CVX tokens in order to participate in the voting and receive the extra 1% fee from locking (5%+1%).

If you missed our previous article on the voting system and vote locking, please be sure to read it here. You can also read up in our docs to learn how the vote system functions. In summary:

  • Lock your CVX tokens for a fixed period of time and gain voting…


Plenty has happened since we launched Convex Finance in May, and we wanted to give a comprehensive update on everything that’s changed and what’s coming next. Additionally, we’ll provide some insight into the upcoming CVX token voting system and how that will work.

  • We’ve seen TVL between $3.5B-$4B for over a month, and approaching the $5 billion mark as of this writing! Really great news for cvxCRV and CVX stakers! Platform revenue recently crossed the $50 million mark in under 3 months, and we now have over 70M CRV locked!


Delicious Sushi!

First, the bad news…

Since launch, cvxCRV / CRV and CVX / ETH LPs have been receiving double CVX rewards during a two-week bonus period. This period is set to end soon.

At block 12541245, CVX rewards for cvxCRV / CRV and CVX / ETH Sushiswap pools will be cut in half.

OK, now the good news!

Sushiswap has agreed to give our LPs sushi rewards! Within the coming days, our Sushiswap LPs will be eligible for these new incentives. To accommodate this, we will also be creating a new reward contract to fit on top of these sushi rewards. …


Wen launch? Now! Yes, Convex Finance has launched, and you can now use the dApp at convexfinance.com to claim your airdrop(if any) and stake in the Convex Finance pools.

To get started, head over to convexfinance.com, read our gitbook, or check out our original pre-launch announcement for details on what you can do with the Convex Finance platform.

Please note using Convex Finance is not without risk, please do your own research and read the audit before using the platform. Never invest more than you can afford to lose.

Lastly, join the conversation on twitter, Discord, or Telegram. …


As we get closer to the launch of Convex Finance, we wanted to provide more information on the upcoming CVX token airdrop. As of now, Convex Finance is still slated for launch in early May.

As stated in the pre-launch announcement, CVX tokens will be airdropped to addresses who held veCRV during the snapshot block, and also veCRV users who voted for Convex Finance to be whitelisted on Curve.

veCRV Holder Airdrop

Distribution will be weighted by the amount of veCRV held at snapshot for the total of 1% of CVX supply. Snapshot was taken at block 12296676 on April 23rd 2021.

Platforms…


Overview

Introducing Convex Finance, a platform built to boost rewards for CRV stakers and liquidity providers alike, all in a simple and easy to use interface. Convex aims to simplify staking on Curve, as well as the CRV-locking system with the help of its native fee-earning token: CVX.

If you’ve ever been a Curve LP, you know it is somewhat non-trivial to maximize your boost by depositing/maintaining your veCRV balance. If you’ve never been a Curve LP, it may be intimidating to do so without being a DeFi power user. …

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