liquidity: News of Convex Finance (CVX) - June 2024 Price Update - 9.17% Breakout Crypto News and Analysis

Cute, funny and a little bit crazy!!!

Explore the Core.

Convex Finance is a DeFi protocol that allows Curve liquidity providers to earn a share of trading fees on Curve without staking liquidity there. Instead, LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This provides CRV stakers with better capital efficiency and positions Convex Finance as an important player in the Curve wars. Convex has entered a competitive race to obtain as much control as possible of the Curve Finance stablecoin exchange. The more CRV tokens a protocol has, the more influence it has over interest rates on Curve, which is the largest DEX in the world by TVL. Consequently, the “Curve wars” are an ongoing race for influence over what is probably the most important protocol in DeFi.

Spot the Main Event:

Ownership DAO Vote ID: Voting on a PROPOSAL that transitions curve finance DAO fees. DAO fees transition to crvUSD! veCRV holders will receive revenue in the form of crvUSD to the new FeeDistributor contract. Fees collection is delegated to arbitrary keepers, convertion into crvUSD is delegated to CowSwap. This vote forwards new fees directly to the new architecture. There will be a following vote to forward already accrued but not burnt fees. How does the votes had an effect on the CVX price? A total of 13M CVX tokens was raised during the votes, which directly added a liquidity to the project. The voting was a single voting system, where the community members can only cast their votes using the CVX token. The votes started on 12th June and ended in 15th June.

Explore the Core.

Convex Finance is a DeFi protocol that allows Curve liquidity providers to earn a share of trading fees on Curve without staking liquidity there. Instead, LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This provides CRV stakers with better capital efficiency and positions Convex Finance as an important player in the Curve wars.

Trade hard. Joy is coming

Explore the Core.

Convex Finance is a DeFi protocol that allows Curve liquidity providers to earn a share of trading fees on Curve without staking liquidity there. Instead, LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This provides CRV stakers with better capital efficiency and positions Convex Finance as an important player in the Curve wars.

This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.