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Convex Finance  


CVX Price:
$7.2 M
All Time High:
Market Cap:
$0.3 B

Circulating Supply:
Total Supply:
Max Supply:


The price of #CVX today is $4.94 USD.

The lowest CVX price for this period was $0, the highest was $4.94, and the exact current price of one CVX crypto coin is $4.93597.

The all-time high CVX coin price was $60.15.

Use our custom price calculator to see the hypothetical price of CVX with market cap of ETH or other crypto coins.


The code for Convex Finance is #CVX.

Convex Finance is 1.4 years old.


The current market capitalization for Convex Finance is $341,432,862.

Convex Finance is ranked #103 out of all coins, by market cap (and other factors).


The trading volume is big today for #CVX.

Today's 24-hour trading volume across all exchanges for Convex Finance is $7,187,846.


The circulating supply of CVX is 69,172,390 coins, which is 73% of the total coin supply.


CVX is a token on the Ethereum blockchain.


CVX is integrated with many pairings with other cryptocurrencies and is listed on at least 34 crypto exchanges.

View #CVX trading pairs and crypto exchanges that currently support #CVX purchase.



Post-Mortem of Events June 23

Initial Disclosure. — On June 23, 2022, on Twitter reported some abnormal activity on the Convex Finance website. Suspicious contract approvals were suspected. Shortly after this, sent a direct-message to the Convex Twitter account with the same suspicions. Convex Twitter issued this initial warning tweet as a result of the two similar notifications. — Summary of Attack. — After some initial investigation, it was confirmed that the DNS of had been hijacked, taking users to a copy of the website containing malicious contracts. The attack replaced web elements that interact with smart-contracts across varying portions of the site to new contracts under the attackers control. Unsuspecting users could have clicked familiar buttons in the UI, but been prompted to approve new, malicious contracts. Many contract addresses even contained the same first and last 4 characters, making it easier to glance at these new contracts and potentially accept them as the originals. Furthermore, the malicious contracts did not seem to be presented to all users, nor were they always presented on the same web elements. Convex used NameCheap as it’s domain registrar for . The attacker was able to access the NameCheap account, even with 2-factor authentication enabled, a strong password, and security alerts. Convex team still had access to the account; 2FA was still enabled, the password was the same, but the attacker was still able to access the account, change the DNS to point to the malicious website, and disable security alerts. Convex team immediately changed the DNS back to point to the real website, and re-enabled security alerts, but it was still unknown how the attacker gained access in the first place. After this, Convex immediately reached out to Namecheap support, and after some short discussion about the incident, was told the domain may be disabled entirely for an unknown time period. Since the attack vector was not entirely understood, and the domain could potentially go offline, a new, temporary domain was deployed using a new registrar, at which time Convex Twitter tweeted the new domain. Several individuals pointed out that the Convex Twitter account could have also been compromised, and this tweet may also have linked to malicious websites. In retrospect, this was a fair criticism. An attempt at alleviating those fears was made later, with signing a message confirming the temporary URLs were indeed coming from the Convex team. Additional Defi Protocol Front-Ends were also targets. Word began to spread on Twitter about additional Defi protocols being targeted simultaneously. , , and all experienced similar attacks, with DNS records being altered. All had registered their DNS with Namecheap. Working together with these teams and the initial security response team, all protocols were able to regain control of their front-ends and mitigate further damage. Additionally, communication with NameCheap’s CEO on Twitter confirmed the attack vector; a customer support agent at NameCheap altered the DNS records. Having regained control of the website, and a root cause confirmed, Convex Twitter communicated again with a brief summary of events. As stated on June 24, the original is back to normal operation. The website is now using a new DNS registrar., Multiple layers of DNS monitoring are enabled to help identify these types of attacks in the future., If you used in any capacity from June 20th — June 23rd, please review your contract approvals using , , or similar tools, and remove any unknown approvals. Review and compare approvals with this list from the Convex Finance Docs. As of today, there are 40 known addresses that approved malicious contracts as a result of this incident. In total, an estimated 15,968 and 433 are suspected of being stolen from users. Only 3 of the 40 addresses listed had funds taken. Please review if you have not already, and revoke malicious contract approvals if your address is listed here. Convex Finance will attempt to compensate losses stemming from the DNS hijacking from June 20–23, 2022, sourced from the treasury, and paid in tokens equivalent to the USD values at time of loss. Funds will go directly to the addresses affected once approvals have been revoked to the malicious contracts. Payouts will go directly to the affected address after confirming revoked approvals., Payments will not be forwarded/sent to different addresses., If you are one of the addresses affected and need help with revoking the approval, please reach out to the team via or , and be prepared to provide your Ethereum address where funds were affected. Otherwise, we will be sending the funds shortly; no need to contact the team if you have already revoked the approval. If you do need to reach out, be absolutely certain you are communicating with a Convex team member, as this type of interaction is sure to attract scammers/phishing attempts. You may be asked to revoke approvals, but you will need to do any new approvals to receive compensation., You will need to send any tokens anywhere to receive compensation., Special thanks to the following individuals and teams for their quick collaboration and assistance. , , , , , , , , , , ,

Year-in-Review: Convex Turns 1!

Though it feels like a lot longer, one year has passed since the launch of Convex Finance. Let’s highlight some statistics on the growth of the protocol since last May! Over 31,000 individual wallets have interacted with Convex, and Convex has captured, on average, approximately 100% of all CRV emissions over the last year!Convex recently passed 200M CRV locked!Whitelisted DAO’s locked CRV tokens (and “Other” independent CRV lockers) CVX lockers continue to grow. Over 80% of circulating CVX tokens are vote-locked at the time of this writing. CVX lockers get to participate in governance and gauge-weight votes, and receive additional protocol fees.Note the “un-lockening” in March 2022; CVX locks continued higher afterwards! Aligned incentives for other DAOs and Convex means CVX distribution continues to expand. Continuing decentralized governance power is a net positive for the protocol!DAO-owned CVX continues to grow Convex protocol fees and rewards are distributed to ecosystem participants. Curve LPs, cvxCRV stakers, and CVX stakers/lockers all benefit from the Convex protocol’s continued success. Incentives are designed to be aligned between all participants. External incentives to CVX gauge-weight voters (via Votium or other avenues) are not included in these figures, an additional ~195M so far!Fees + reward distribution to Convex users.Convex Community The growth and success of Convex is bolstered by its strong community. Huge thanks to early contributors who had faith in the protocol during the early days. Whether it’s providing tooling, education, or exposure, Convex has had significant community member contributions. We wanted to give shout-outs to some standout community members. — CurveCap. — With near-daily updates, CurveCap provides significant value to the Curve and Convex ecosystem. A lot can happen in 24 hours, but the important bits are always captured in CurveCaps updates. Follow CurveCap and consider subscribing to the Substack as well to stay ahead of the Curve! — LazyGuac. — There are lots of questions for newcomers to Curve and Convex, with multi-faceted and potentially complex answers. Lazyguac has created, a one-stop-shop for all your questions regarding the ecosystem. It also contains useful links to helpful videos, articles, and resources. — CryptoRiskTeam. — As Curve grows, additional pools and gauges are being proposed and added at an ever-increasing rate. The CryptoRiskTeam was created in order to evaluate proposed pools, and offer insights to individuals who may be less technical, or simply not have the time/resources to fully vet before voting. — MarcoV. — MarcoV’s DuneAnalytics dashboard continues to provide value, allowing users to glean information regarding CVX tokenomics, locked CRV tokens, revenue figures, and more. — DefiDividends. — DefiDividends contributes tooling to Curve and Convex. They’ve launched, illustrating DAO-owned CVX tokens and analytics behind them. They’ve also created, which provides insights into Curve’s v2 Additionally, significant supporters on Twitter keep the conversation around Convex alive and thriving. Convex appreciates the effort and insights provided by our loudest supporters on social media. Some special shout-outs:DefiMoonCryptoCondomTetranodeValkyrieProtocol Integrations Convex launched with the goal of being a “DeFi-Lego”, allowing other protocols permissionless and seamless integration where possible. This benefits Convex and DeFi in general, as we’ve seen many instances of integration and additional layers of complexity added to Convex building blocks. We wanted to give shout-outs to some standout protocols that have contributed significant value to Convex and the ecosystem as whole. — Votium. — A standout in this category is Votium. Created by early Convex community members @0xtommygenesis and @itsrabas, Votium changed the landscape of vlCVX voting, opening up a marketplace to rent out voting power. Protocols are able to incentivize vlCVX holders to vote for their pools in Curve gauge-weight votes, which tends to drive deeper liquidity. Votium has brought significant value-add to the Convex ecosystem! — LLama.Airforce. — A one stop shop for all things Curve+Convex, LLama.Airforce is a powerhouse of analytical tools. Created by early Convex community members @0xAlunara and Benny, LLama.Airforce hosts a suite of tools to help make sense of an otherwise complicated landscape of Curve pools, Convex votes, Votium incentives, and more. Additionally, with the creation of the Union, smaller vlCVX voters have an opportunity for gas-optimized earnings. Users can opt to join the Union to convert their earned incentive tokens into cvxCRV, and potentially earn additional cvxCRV via auto-compounding in the process. — Convex Community Subgraph. — While not a protocol itself, the creation of the Convex Community Subgraph has significantly reduced friction for other contributors to add value. Thank you to the creators for empowering others with open-source tooling!Bennybout3fiddyUwe — Additional Protocols. — Many thanks to all protocols who’ve integrated Convex in some way, shape, or form. We don’t want to miss anyone; if your protocol was mistakenly left off this list, please reach out! In no particular order….yearn.financeBadgerDAOAlchemixLendFlareRari CapitalAbracadabra.moneyAladdinDAO : 0xCLever and 0xConcentrator Special thanks to the team at Curve Finance for their continued support throughout the first year of Convex Finance, as well as the community for supporting Convex! And special thanks to the team at Frax Finance for being Convex Finance’s newest partner integration! — On the horizon…. — Before you leave, a quick look at what’s next…Continued expansion of new Curve poolsSupport for boosted pools on side-chains / L2’s!Further expansion of the Frax ecosystemFrax gauge-weight voting for vlCVX holdersExploring new opportunities! Onward. Join the Convex Finance Discord Server!

Boosted Frax Staking Now Live!

Continuing the work between Frax Finance and Convex Finance, the Frax portion of Convex expands further today. Select Liquidity Pools from Frax Finance can now be staked on Convex, with additional pools coming soon.Vesper Orbit FRAXAave aFRAXFrax FPI/FRAXComing soon: Temple FRAX/TEMPLE Similar to the way Convex works for, Frax LPs can enjoy socialized (and simplified) boosting mechanics for their LP positions when staked on Convex Finance. However, Frax Finance allows LPs from various venues to participate. LPs originating from Uniswap, Sushiswap, AAVE, or any multitude of other platforms have the potential to be hosted on Frax, and, by extension, Convex. — For Liquidity Providers. — LPs who want to start staking on Convex need to do the following:Obtain LP tokens from the original source; For LPs currently staked on Frax, this means unstaking/withdrawing from Frax.Deposit + Stake your LP tokens on The process will be 3 transactions: Create Vault, Approve, Deposit+Stake. Full instructions here.Note: LPs on Frax may receive additional boosted FXS earnings by locking their LP tokens for durations of time. LPs must lock for a minimum of 1 day for no additional time-boost; most pools allow the user to lock for up to 3 years to receive the maximum time boost. After time-locks expire, users can remain in the pool and continue to receive socialized boosting from Convex veFXS without re-locking for additional time. — Fees. — Similar to protocol-level fees for Curve pools, Frax pools are subject to fees when staked on Convex.10% of all FXS earnings will be distributed to cvxFXS LPs as FXS7% of all FXS earnings will be distributed to vlCVX holders, as cvxFXS — For Vote-Locked CVX Holders. — vlCVX holders will collect 7% of all FXS emissions from pools staked on Convex, paid out as cvxFXS. Frax governance proposals will be available for vlCVX holders to vote on immediately (for vlCVX locked prior to the start of the epoch). Voting will take place on Snapshot. For now, Convex will allocate the protocol’s veFXS to optimize liquidity and FXS rewards for vlCVX holders and LPs during gauge-weight votes. Rationale:Supported LP’s are relatively small; the hope is that the addition of Convex staking will attract more liquidity to Frax poolsThere are currently only 3 supported LPsThere is currently no incentive market for voting on gauges with Frax pools Eventually, Convex vlCVX holders can participate in gauge-weight votes for Frax Finance pools. A full explanation of the Frax staking and gauge system can be found in their documentation. Documentation is still being finalized, and will be updated shortly outlining the newly released Frax functionality of the Convex website. In the mean time, please feel free to join the Convex Discord for any questions or discussion. Join the Convex Finance Discord Server! And be sure to follow Convex on twitter.

February Update: FPI Airdrop, Multichain Incentives

Frax Finance: FPI Airdrop - In the previous update, went live, and allowed for users to convert FXS to cvxFXS in anticipation of the Frax Finance portion of Convex launching. As announced by Frax Finance, the FPI token airdrop snapshot will be taking place on Feb 21, 2022 at 00:00 UTC. Full details have yet to be released from Frax Finance. Users who’ve locked FXS as cvxFXS will be eligible for the maximum amount of FPI. Important note: If you have cvxFXS tokens and wish to receive the FPI airdrop, be sure to hold “vanilla” cvxFXS during the snapshot. cvxFXS tokens in liquidity pools or other contracts will not be accounted for. Simply hold cvxFXS in your wallet. You can verify your token balance by looking at your address on directly (under ERC20 tokens, look for cvxFXS). Alternatively, you can connect your wallet to, and your cvxFXS balance will display in the UI.  — @ConvexFinance After the snapshot, Convex will begin on “Phase 2” as outlined in our prior update. More information will be communicated after the FPI snapshot. — Multi-Chain Boosting and Incentives - Previously, the boosting system for veCRV (and cvxCRV by extension) LP provider rewards only applied to liquidity pools on Ethereum mainnet. This, in tandem, gave Convex Finance the same limitations: boosting as a service, but only for pools on Ethereum. As side chains or other L1’s gain popularity, it’s becoming evident that the broader ecosystem would benefit from multi-chain boosting opportunity. just went live with their first non-Ethereum pool eligible for boosting.  — @CurveFinance For the moment, Convex will continue to support only Ethereum mainnet pools. However, multi-chain boosting via Convex is actively in-work and is coming in the near future! Stay tuned for updates. — Telegram Chat Discontinued - A few weeks ago, the Convex Finance Telegram main chat was set to read-only. Any telegram chats claiming to be Convex Finance chat are fake, and should be reported as spam. The only moderated chat is the Official Discord channel here: The Telegram channels for Announcements and Proposals continue; these are also read-only. Announcements: Proposals: As always, follow for the latest updates.

Vote-Locked CVX Contract Migration

Today, the contract for vote-locked CVX (vlCVX) has been re-deployed. Convex Finance was recently made aware of a potential bug in the vlCVX rewards system. This bug was responsibly disclosed before anyone utilized it; no loss of funds occurred, and user deposits were not at risk. There were no instances of this being used prior to deployment of the new vlCVX contract. However, since Convex Finance contracts are immutable and non-upgradeable, a new contract had to be deployed. The new vlCVX contract has implemented a fix for this potential bug going forward. User’s who vote-lock CVX earn 5%+1% rewards in the form of cvxCRV. This bug made it possible for expired locks to relock directly to a new address, which, in turn, enabled them to claim more cvxCRV rewards than they had earned. Special thanks to the team at Popcorn for their assessment and disclosure. A bug bounty will be paid out from the Convex treasury. — Implementation and Actions for Vote-lockers. — To migrate users to the new vlCVX contract, all currently locked CVX has been unlocked from the old contract. Anyone who has vote-locked their CVX will have to withdraw their tokens from the “Lock CVX” page and re-lock in the new contract. Users will have a small grace period to move their previously-locked tokens over to the new contract. During this grace period, formerly locked CVX tokens that have not expired and have not yet been withdrawn will still be able to participate in the gauge-weight voting of March 3rd, 17th, and 31st. To participate in DAO votes and continue to earn 5%+1% of platform fees as cvxCRV , users must re-lock in the new vlCVX contract. Example: A user who does not withdraw their CVX tokens from the previous vlCVX contract and who’s original lock expires on March 24th will be able to participate in gauge votes for March 3rd and 17th but not the 31st. In SummaryA non-critical bug was found; user deposits are safe and were not / are not at risk.Go to and withdraw your unlocked CVX tokens.If desired, re-lock for 16 weeks to continue earning 5%+1% of platform fees as cvxCRV, and participate in gauge-weight and DAO votes.Previously locked but not withdrawn CVX tokens will retain gauge-weight voting rights for the voting period of March 3rd, 17th, 31st, even if not re-locked in the new contract.

December Update: Protocol Expansion, CVX/ETH Incentive Migration

Frax Finance and cvxFXS Convex Finance originally started out with the goal of optimizing and expanding opportunities for users of Curve’s CRV token model stood out amongst the crowded DeFi space, and the success of that model combined with Convex is clear. Other protocols have begun following suit, whether that’s launching new protocols with similar token-locking models, or revamping existing tokens to include similar characteristics. Speculation over potential collaboration with Frax Finance over the past weeks can stop now: Convex Finance is expanding to include Frax Finance’s Frax Shares, FXS. Frax has adopted a similar token-locking model that is a natural fit for the Convex ecosystem. FXS can be locked as veFXS for fee sharing, governance rights, and gauge votes on Frax’s platform. We encourage users to familiarize themselves with Frax’s documentation. Not long after our launch, Frax Finance has been invested in the success of Convex, and has shown considerable interest in being a good actor for the ecosystem. It is our belief that the team at Frax Finance will make for great partners in the first expansion into new protocols. This week, we will begin a soft-launch of the new Frax portion of the Convex platform, starting with opening up deposits for FXS. — Phase 1 (this week):. — FXS deposit and convert to cvxFXS is now available at Convex will lock any deposited FXS for 4 years, cvxFXS holders will be eligible for Frax Finance’s upcoming FPI airdrop at the maximum possible multiplier.Staking cvxFXS will not be available immediately, nor will staking LP tokens from Frax Finance. — Phase 2 (post FPI airdrop):. — cvxFXS/FXS pool and incentives.Distribution of veFXS rewards — Phase 3 (still under development):. — Fully functional staking platform for Frax Finance LPsPlatform fee distribution to cvxFXS and vlCVX — Things you should know before depositing/staking FXS on Convex Finance:. — Similar to the relationship between the CRV token and cvxCRV, FXS tokens converted to cvxFXS on Convex will be locked forever.FXS locked on Convex is locked in perpetuity for the maximum allowable time of 4 years.Conversion is one-way: cvxFXS tokens will not be convertible back to FXS on Convex Finance. There will be a liquidity pools available on Curve to swap between cvxFXS and FXS. Conversion rates can/will fluctuate based on demands for either token.Unlike veFXS, cvxFXS is transferrable.vlCVX holders, via Snapshot voting, will eventually dictate how Convex Finance allocates it’s veFXS during Frax governance votes and gauge votes. In the interim, Convex multi-sig will vote on any proposals in FRAX governance and gauge weights. Current and future functionality of veFXS are discussed in Frax Finance’s documentation here.Full functionality of cvxFXS staking, including platform fee distribution mechanisms, have yet to be finalized.CVX / ETH Liquidity Provider Incentives Since launch, Convex has provided CVX incentives to liquidity providers on the CVX/ETH Sushiswap pool. Now that v2 pools are active, it’s time to migrate those incentives to the new CVX/ETH Curve pool. The migration of CVX incentives will begin over the next few days; we will announce once the process has begun. Remaining incentives will still be paid out to Sushiswap LP’s over the next ~2 weeks, reducing over time until eventually stopping altogether. Users are encouraged to move to the new Curve pool at their convenience. Similar to the cvxCRV/CRV pool, CVX/ETH pool LP’s will be able to stake on Convex for additional rewards. This pool is available now, and like all Curve pools with a gauge, is eligible for CRV earnings + CVX rewards. Update: Sushiswap pool incentives have concluded as of December 26; users are encouraged to move to the new pool Bounties and Disclosure Like many DeFi platforms, Convex Finance operates on the ethos of decentralization and trustlessness. In that vein, great strides have been made in order to limit the control of the team such that it should never have access to user funds. It is the opinion of the team that the best way for users to interact with DeFi is to allow self-custody wherever possible. Recently, the team was made aware of a complicated series of actions that could, in theory, result in the Convex Finance multi-sig holders gaining access and control of staked Curve LP tokens on Convex. This series of events did not transpire, and user funds were not at risk at anytime from any outside actors. The team has already deployed an immutable fix which adds extra checks, removing the opportunity for the multi-sig to gain access to any LP tokens. Convex Finance appreciates the team at OpenZeppelin for their disclosure. Our team has opted to provide a bug bounty as a reward, paid from the treasury. Going forward, Convex will offer similar bug bounties for anyone who identifies potential risks/vulnerabilities in the platform’s smart contracts. Refer to the updated documentation page here for more information. As always, please feel free to join the Discord, Telegram, and follow Convex Finance on Twitter!

November Update: Voting Incentives, Community Contributions, Next steps

Voting Incentives: A quick primer As Convex Finance has gained a significant share of locked CRV tokens, one of the primary utilities of the CVX token has started to show its strength: gauge-weight votes. CVX vote-lockers on Convex can allocate their vote-weight towards Curve pools they hope to see a higher proportion of CRV token emissions directed towards. With the rise of Convex’s gauge-weight, projects like Frax, Badger, Spell, and more have shown interest in gaining CVX and incentivizing vlCVX to increase their CRV allocation. Increasing CRV rewards on gauges can drastically increase liquidity for these projects. With the launch of both and Votium, users are able to receive incentives for allocating their vote-weight towards specific Curve pools. DAOs, projects, and individuals have the ability to post incentives, to be paid in the token of their choice, to those individuals who vote for specific pools. — What does this mean for CVX vote-lockers?. — All CVX vote-lockers have access to incentives from These incentives are distributed amongst all vote lockers each gauge-weight vote based on your vote-weight, regardless of whether or not you individually vote. These rewards are claimable on under Locked CVX -> Extra Incentives, In order to be eligible for additional incentives claimable on Votium, you must vote for those pools that have Votium incentives posted, or delegate your vote-weight to the Votium team. Per Votium documentation, Votium will work to optimize all delegated CVX vote-weight in order to maximize their users’ overall rewards. Read and understand Votium documentation before delegating your vote-weight, — Data Driven: Convex Finance gets community-made Dashboards and Tooling - — DuneAnalytics. — An awesome DuneAnalytics dashboard created by MarcoV highlights some impressive and interesting statistics: Over 140M CRV locked as cvxCRV, Over 25M vote-locked CVX tokens eligible to participate in Snapshot Votes, New highs in daily revenue earned; total platform revenue now exceeds $490M since launch, Llama.Airforce Reporting for Duty Early community contributor Alunara created an excellent website/dashboard to visualize Convex Finance pool statistics. Users can chart APR and TVL changes over time at the individual Additionally, this dashboard is also useful for monitoring how the voting incentive system and Votium impact results for gauge weight votes. Users can review prior votes and get a full picture of all incentives for the different — Convex gets its own Valkyr-Ξ : Meet Cagi - Cagi We’re excited to highlight this amazing NFT made in the spirit of locking. Cagi is one of the latest in the Valkyrie series, and it couldn’t have turned out better. From the artist: “With this Valkyr-Ξ, I aimed to showcase Convex’s key feature: locking. Tiny locks and keys serve as accessories and clothing details. I also wanted Cagi to exude power and charm, with a touch of regal modernity. The clothing, a mix of sleek and flamboyant, convey this idea and combine both Curve and Convex color palettes. Finally, I’ve made Convex’s emblematic “C” a cornerstone of Cagi’s various accessories, as seen in her geometric heels and holographic bracelets.” Be sure to show follow and support Valkyrie_NFT on Twitter! If you are interested in getting your hands on a copy, click here! — Zerion Adds Support for Convex - You can now track your Convex Finance positions on Zerion! Zerion makes it easy to see a summary of your staked tokens, locked CVX, or LP positions in an intuitive interface.  — @zerion_io — OKEX Lists CVX - OKEx recently listed the CVX token! Users who prefer centralized exchanges can now buy/sell CVX on OKEx rather than on-chain.  — @OKEx — Notable and Upcoming UI Updates - It’s now possible to “Claim and Lock” in one button press on the “Claim” page., A more detailed description of Current/Projected APR will soon be live on all pools., Upcoming: Current/Projected APR Breakdown Additionally, advanced filtering/sorting for all pools will soon be available to help sift through the long and ever-growing list., — What’s Next - Curve has begun the process of releasing v2 pools, starting with CRV/ETH. This will be the first of many future pools! The process of adding these pools to Convex will remain the same, and there are plans to support all pools that receive a gauge., As of now, boosted CRV rewards for LP’s remains only on Ethereum main-net. Multi-chain boosted rewards remain on the radar for the future., — Follow us on Twitter and Join us in Discord!. — Telegram Ann: Telegram Chat: Discord:

September Update: Vote Locking Launch, Liquidity Provider Incentives, and more!

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 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 powerVote for how Convex Finance allocates it’s veCRV votes in governance and gauge weight votes.Earn 20% more rewards vs. single staking CVX Important Notes as vote-locking gets startedThe first gauge weight vote for CVX vote-lockers will be from the 16th-21st of September. In order to participate in this vote, users will need to vote-lock their CVX before 00:00 UTC September 16th.No need to immediately un-stake existing CVX and vote-lock. There is ample time between now and the deadline to participate in the first vote.Rewards for vote-locked CVX behave in the same way as rewards on other pools; there is a trailing 7-day distribution. At launch APR will start from zero and build up over time before normalizing.Vote-locker contracts are currently under review at Code 423n4. Minor UI changes come with this updateThe “Use CVX” page is now “Lock CVX”. Single-staking CVX and Sushi LPs are now located on the “Stake” page and behave the same as before.The “Lock CVX” page houses all the new functions for vote-lockingNew tabscvxCRV/CRV LP incentives are moving! Since launch, liquidity mining incentives in the form of CVX tokens have been allocated to liquidity providers in the cvxCRV/CRV Sushiswap pool, and the CVX/ETH Sushiswap pool via a modified Masterchef staking contract. Currently, 60% of these rewards go to the cvxCRV/CRV pool, and 40% go to the CVX/ETH pool. We’re happy to announce cvxCRV/CRV LP incentives are moving to Curve stable-swap pool! factory pools allow anyone to create new liquidity pools with any token pair. Recently, a proposal to add a gauge for factory pool 22 : cvxCRV/CRV reached quorum on Curve governance and is anticipated to pass. Liquidity providers in this pool will soon be able to receive CRV incentives from platform token emissions. Going forward, the CVX incentives currently allocated to the Sushiswap pool will instead be allocated to the cvxCRV/CRV factory pool on Convex Finance aims to support all pools that have a gauge; this means the new cvxCRV/CRV pool will be available for deposit+stake on Convex, and potential to earn boosted CRV LP rewards + CVX tokens. This means cvxCRV/CRV LPs on Convex will be getting even more CVX than they were prior! As a result, after the first 2 weeks of the gauge being live, the portion of CVX rewards coming from Liquidity Mining incentives for the cvxCRV/CRV pool will be reduced from 60% -> 30%. While this figure is being reduced, we anticipate that there will be a net increase to overall APR for cvxCRV/CRV LPs when accounting for CRV + CVX coming from Curve LP rewards. Additionally, the CVX/ETH Sushiswap pool incentives will be increased from 40% -> 50%. These changes leave 20% of prior token incentives still un-allocated (approximately 3,400 CVX per day). Initially, these tokens will be looped back into the Masterchef contract. In the future, these tokens will be used to bootstrap new liquidity pools on the platform normalizing the effective returns on those new pools during their initial days eliminating/reducing the initial lag period. Lastly, all figures / percentages stated are starting points, and subject to change before or after these changes go live.Abracadabra! Convex Finance <->… Keep an eye on their twitter in the coming days/weeks! As always, please join the Discord and Telegram to ask any and all questions, and follow the Convex Finance twitter!Join the Convex Finance Discord Server!Convex Finance - Chat

August Update + CVX 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!, From Defi Pulse Our Twitter account recently passed 10,000 followers, and our Discord is nearly 4000 members strong. The community continues to grow and we look forward to more users every day!, We’ve implemented a number of UI improvements, including adding a “Claim and Stake” function. This makes it easier to compound your staked positions on cvxCRV and CVX, and also saves on gas costs., We continue to support all new pools on, most recently the tricrypto pool. This pool has seem immense popularity and bodes well for future multi-collateral liquidity pools on Curve. We’re excited for what’s to come here., — Protocol Collaborations - — Frax Finance - Frax Finance has deployed a portion of their treasury to the FRAX pool on Convex Finance. They’ve committed to holding/staking their earned cvxCRV and CVX rewards for the long term, and work to align incentives for both protocols. We’re excited to have Frax Finance engaged in the success of Convex Finance!  — @fraxfinance — BadgerDao - The team at BadgerDao deployed new vaults purpose built for Convex Finance. BadgerDao’s Helper Vaults can be used to auto-compound your staked cvxCRV and CVX earnings. Users can also choose to use any of BadgerDao’s 8 other setts that take advantage of Convex rewards (CRV, CVX), as well as BADGER tokens.  — @BadgerDAO — Other Integrations - — OlympusDao - With OlympusDao’s passing of OIP-14, excess treasury funds (FRAX tokens) will be deployed into Convex Finance’s liquidity pools to start earning trading fees, CVX, and CRV. OlympusDao hopes to deploy more capital from their treasury to Convex liquidity pools in the future, and maintain a CVX position.  — @OlympusDAO — What’s Next? Well, voting! - *drumroll* — Voting with your CVX Tokens - At launch, we expressed our intent to allow CVX holders to dictate how Convex Finance used its significant (and growing) veCRV voting power in the weekly Curve.Fi gauge weight votes. The aim is to decentralize the protocol and give the token holders a say in how Curve.Fi rewards are distributed amongst the different liquidity pools. We also plan to hold votes for any governance proposals that arise. We’re glad to say we are in the final stages of releasing the voting system. We anticipate launching soon, and we’ll keep the community updated with the latest regarding an official launch time. For now, we want to cover some basics on how the voting system will work in practice: Voting will take place using Snapshot., Gauge weight votes will be bi-weekly. Other governance votes will be addressed as they arise., Curve ownership governance votes have a quorum of 20%; Curve parameter governance votes have a quorum of 10%; gauge weight votes will not have a quorum., In order to vote, you must lock your CVX tokens for a fixed time period. Locked tokens will be inaccessible until the time period has passed (more on this in the next section)., Individual CVX holders may spread their votes among multiple pools in gauge weight votes., There will be minimum and maximum gauge weight allocations for Convex Finance’s veCRV voting power. These thresholds are safeguards to ensure voting power is used effectively across the system., A more in depth explanation and rules can be found on our documentation page here. — Locking CVX Tokens - Convex Finance has opted to require a time lock on CVX tokens that wish to participate in any platform votes. This helps ensure the most committed and engaged users are the ones helping shape the votes regarding Convex Finance’s gauge weights and governance votes. You will need to lock your CVX tokens in order to participate in any votes. CVX tokens used for voting will be locked for 16 weeks. Voting weight will be determined by the amount of CVX tokens deposited (see next section on Boost Mechanic), Deposited tokens will be split into weekly lock groups which will expire together., Upon lock expiry, you can either withdraw or re-lock., To further incentivize users to participate in platform votes, CVX tokens locked in the voting contract will still receive the 5% platform fee as if their tokens were staked, as well as an additional 1% fee for locking their tokens. Platform fees will increase nominally to compensate for the additional fee going to locked CVX tokens. (Will be raised from 16% to 17%), CVX tokens remaining in expired locks will continue to accumulate these fees, but will eventually be put up for bounty. Any user can “kick” an expired user’s locks after a grace period of 4 weeks have passed, and claim a fee paid for by the inactive CVX token holder., — Boost Mechanic - CVX tokens can be ‘spent’ to receive a multiplier on your locked CVX rewards, and also increase your weight of your CVX token voting power. These are spent while depositing and only applied to the newly deposited tokens. ‘Spent’ CVX tokens will be directed to the treasury. These funds will remain in the treasury to be used for future incentives. At launch, the boost mechanic will be disabled. It will be up to the community as to when this should be turned on and with what parameters. — When? - We are working hard to finalize the voting system. We want CVX holders to have their say as soon as possible to further decentralize Convex Finance. We’ll announce when it’s ready, but in the meantime, you can follow along in our chats and check updates on our Github.Design work in progress As always, please follow us on twitter, and join the Discord and Telegram chats for more discussion. Hope to see you there! , Join the Convex Finance Discord Server!, Convex Finance - Chat,

Sushi Rewards + What’s new

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. Once live, cvxCRV/CRV and CVX/ETH LP’s will earn SUSHI rewards on top of their regular CVX rewards.What do I need to do? As of today, no action is needed. The new reward contract is not yet live. We will announce when it goes live shortly. If you are currently providing liquidity for cvxCRV/CRV or CVX/ETH on Sushiswap, you will need to migrate your LP tokens from Convex Finance’s staking contract to Sushiswap’s contract. This will all be available on our website when the pools go live. Once everything is ready to go, migrating your SLP tokens is easy:Un-stake your LP tokens from the current Convex Finance pool here.Re-stake your tokens on the Sushi pool on the same page.New Curve Pools Available The following Curve pools are now available on Convex Finance! Find them in the list with the other pools here.reth (eth+reth)alusd (alusd+3pool)Additional Updates A few key points since launch!Over 12 million CRV have been locked on our platform.Over $600 million in platform TVL.Our Telegram and Discord channels have ballooned, with lots of productive discussion and great suggestions for platform/UI improvements. The Convex Finance team has been floored by the amount of early growth the platform has experienced. We wanted to thank the community for their enthusiasm and continued support! Feel free to reach out to the team on Telegram or Discord with questions, suggestions, or just to join the discussion! Twitter Discord Telegram Docs Website


Convex Finance Launches Two URLs After Spoofing Exploit

    The Domain Name Server (DNS) of the decentralized staking platform, Convex Finance, was targeted in the latest spoofing exploit. Angel investor Alexintosh first flagged that Convex Finance was asking for user approval to an unverified smart contract address on July 23rd. This suggested that a malicious entity may have sneaked into Convex Finance's website to carry out a DNS spoofing attack. Following the incident, the staking platform confirmed the hijack of its DNS that led users to unassumingly approve malicious contracts for some interactions on the website. Convex then announced setting up two alternative domain names and asked users to use these URLs to interact with the site while they conduct the investigation. The platform marked five wallets affected by the exploit. The team, however, revealed that funds on verified contracts were not affected. The exploiter sent the stolen funds to a 'Convex Phisher Deposits' flagged wallet flagged that shows a small amount of crypto from the affected users before moving most of it to the coin mixer, Tornado Cash, to hide the tracks. Convex Finance said that it will publish a detailed post-mortem report soon. Furthermore, a crypto tracking and compliance platform MistTrack revealed that Ribbon Finance, a decentralized structured products protocol, also suffered a DNS hijacking attack, wherein a victim reportedly lost 16.5 WBTC. On-chain analysis suggests that it was the same attacker as Convex. read More

Biggest Movers: CVX Nearly 14% Higher, as RUNE Extends Friday's Ga...

    CVX was trading nearly 14% higher to start the weekend, as RUNE extended yesterday's gains, climbing by over 13% on Saturday. CVX is now up by nearly 35% this week, rising to multi-week highs in the process. Thorchain (RUNE) RUNE was one of the biggest gainers in crypto markets for a second consecutive session, as it further cemented itself as the world's 45th-largest cryptocurrency by market cap. Following a high of $9.52 on Friday, RUNE/USD rallied to a greater high of $10.26 to kick off the weekend's session. Today's peak is the highest level RUNE had traded at since December 3, when prices were falling from highs around $13. Saturday's move saw the 14-day RSI indicator once again touch its resistance point of 79.11, which hasn't been broken since November. Looking at this chart, $11.30 is the next likely destination for bulls attempting to extend recent gains, however the road to this point will likely be turbulent. Prices are overbought, and a reversal could be on the cards, despite the bullish sentiment of the last two sessions. Convex Finance (CVX) Saturday's price surge has sent CVX to its highest point in over three weeks, with the token now trading more than 35% higher in the last week. Following a low of $23.12 less than 24 hours ago, CVX/USD climbed to a peak of $27.39 during today's session. The price of CVX has now risen for 11 out of the last 13 trading days, a run which started at its support of $15.40. As a result of this rally in prices, market sentime... read More

Biggest Movers: DASH, CVX and ALGO Lead Monday's Gainers, APE Fall...

    CVX was the biggest crypto gainer to start the week, as both DASH and ALGO also climbed higher. Despite ALGO rising to its highest level in over three weeks, gains in DASH and CVX were more noticeable. This came as APE once again traded in the red. Convex Finance (CVX) Convex finance (CVX) was Monday's biggest gainer, as the world's 77th largest cryptocurrency rose by as much as 15% to start the week. Following a low of $17.90 on Sunday, CVX climbed to an intraday high above $21.56 on Monday, as prices hit a ceiling. Today's move was the highest level CVX has traded since March 2, as prices continued to move away from support at $15.50. Monday's surge saw prices near resistance of $22.00, however slipped from this point as bulls likely consolidated earlier gains by closing their positions. Looking at the chart, the 10-day (red) moving average, and the 25-day (blue) have also marginally crossed, which sets the table for further bullish momentum. If this upward trend continues, we could see a break similar to the one on March 2, where prices rose to above $30, during a flash spike. DASH DASH rose to a three month high during today's session, as it rose for a fourth consecutive session on Monday. Today's high, saw DASH/USD rally to a high of $122.83 to start the week, which follows a low below $101 on Sunday. Monday's move is the highest point DASH has reached since January 21, as markets were in free fall, dropping to as low of $79 during that week. As of writing this, DA... read More

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