Convex Finance: Pre-Launch Announcement

Overview

  • Deposit Curve LP tokens to the Convex system; they are automatically staked in the curve gauge with boosted reward rates.
  • Gain CRV rewards, as well as extra incentive tokens (ex. SNX, PNT, BOR, LDO, etc)
  • Rewards are periodically claimed from the gauge and moved to a synthetix inspired reward contract, with rewards tail emission of seven days.
  • Receive the Convex platform’s native token(CVX) pro rata for each CRV you receive.
  • Add or remove liquidity at any time with no deposit or withdrawal fees.
  • Deposit CRV in the platform. This CRV is locked forever. Receive cvxCRV token.
  • Deposit cvxCRV in the reward contract. (can be withdrawn at anytime)
  • Receive a share of boosted CRV.
  • All normal veCRV rewards (trading fees on Curve) are also distributed.
  • Can exchange cvxCRV for CRV at any time using the incentivized cvxCRV/CRV liquidity pool.
  • Receive the Convex platform’s native token (CVX) pro rata for each CRV you receive.
  • Deposit CVX on the platform. (can be withdrawn at anytime)
  • Receive a portion of the platform fees in cvxCRV

Convex Finance Launch Airdrop

Incentivized Liquidity Mining

  • cvxCRV/CRV
  • CVX/ETH

Motivations and Goals

Platform Fees

  • 10% to cvxCRV stakers, given as CRV
  • 5% to CVX stakers, given as cvxCRV
  • 1% to harvest caller, given as CRV

Tokenomics

cvxCRV (Tokenized veCRV)

  • Tokenized deposits, minted 1:1 for each CRV locked in the platform.
  • Stake to receive platform fees(CRV), CVX, and veCRV rewards(3Crv).

Convex Token (CVX)

Distribution

  • Max Supply: 100 million
  • 50% Curve LP rewards
    Rewarded pro-rata for CRV received on Convex
  • 25% Liquidity mining
    Distributed over 4 years. Incentives for CVX/ETH and cvxCRV/CRV pools
  • 9.7% Treasury
    Vested over 1 year. Used for future incentives or other community driven activities
  • 1% VeCrv holders
    Instantly claimable airdrop
  • 1% VeCrv holders who vote to whitelist Convex
    Instantly claimable airdrop
  • 3.3% Investors
    Vested over 1 year. 100% of investment funds used to pre-seed boost and locked forever(no cvxCRV minted).
  • 10% Convex Team
    Vested over 1 year

Other Information

  • Treasury will be held by a multisig and used for future incentives and/or rewards for community driven activities.
  • Curve LP Farming rewards are minted for each CRV claimed at a determined ratio. This ratio decreases as total supply increases.
  • Stake CVX in a reward contract to receive platform fees in cvxCRV.
  • Starting Liquidity Mining pools will be cvxCRV/CRV and CVX/ETH.

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