| General information | |
|---|---|
| Global rank: | 235 |
| Name: |
Convex Finance |
| Symbol: | CVX |
| Current coin price (RWF): | 2 992.86 ر.س |
| Last hour: | arrow_upward1.09 % |
| Last 24 hours: | arrow_downward-1.02 % |
| Last 7 days: | -1.39 %trending_down |
| Capitalisation (RWF): | 295 231 422 294.77 ر.س |
| Volume 24h (RWF): | 21 494 516 380.53 ر.س |
| Available supply: | 98 645 388.00 CVX |
| Total coin supply: | -1 CVX |
| Start date: | 2021-05-17 |
Convex Finance/Rwandan Franc (CVX/RWF) price chart
Convex Finance/Rwandan Franc (CVX/RWF) capitalisation and volume charts
Convex Finance (CVX) is a decentralized finance (DeFi) protocol on the Ethereum blockchain, primarily aligned with Curve Finance. Its role is to enhance staking rewards and yield optimization for CRV token holders and Curve liquidity providers. The platform is noted for its approach to decentralized asset management, utilizing proof-of-stake mining and liquidity pools to distribute rewards
Convex Finance facilitates Curve liquidity providers to earn a share of trading fees on Curve without the necessity of direct staking on the Curve platform. By staking with Convex, users can potentially receive increased CRV and liquidity mining rewards. The platform's design is intended to streamline the staking process and maximize potential returns for its users, but as with any DeFi protocol, it's important to recognize the inherent risks and volatility in such platforms.
CVX, the native platform token of Convex Finance, functions as an ERC-20 governance token. It can be staked on Convex Finance, allowing users to potentially earn a portion of Curve and Frax LP's CRV and FXS earnings. The process involves the tokenization of platform fees into cvxCRV and cvxFXS, which are then distributed to CVX stakers. While this system offers a way for users to participate in the governance and benefit from the platform's strategies, it's important to acknowledge the market risks and the fluctuating nature of rewards in the DeFi space.