Conic Finance or CNC is a protocol that allows liquidity providers to diversify their exposure across multiple Curve pools. They are introducing Omnipools, liquidity pools where users can deposit a single asset. Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (CNC/USDT – Trade it here) on our Assessment Zone, check it out now!
Background of Curve Finance and Convex Finance
Curve Finance is a DEX with a built-in AMM that optimizes digital assets swaps. Since their introduction in 2020, they are now one of DeFi’s fundamental foundations. It became a protocol that generates billions of dollars in daily trading volume with minimal slippage. It also created a great innovation that is now a common practice among DeFis. They use a protocol’s DAO token to vote on inflation weights. In return, that governs how DAO token emissions are distributed to multiple liquidity pools.
Meanwhile, Convex Finance is a DeFi platform that boosts the staking rewards on Curve Finance. It allows Curve LPs to profit from a collective increase in their receiving CRV emissions. It also offers pro rata CVX incentives with CRV earnings and allows CVX lockers to vote on CRV emissions. This creates a system where LP providers benefit a lot more from their efforts. So, how does Conic Finance fit into the picture?
How Does Conic Finance Work?
Despite Curve and Convex Finance’s innovation, there are still some limitations. It is not easy to determine which Curve pool should it allocate liquidity to. This is because liquidity gauge inflation weights on the Curve alter on a weekly basis. Furthermore, the number of Curve pools is continually growing with the introduction of pool factories. Additionally, depositing assets into many Curve pools might make rebalancing liquidity allocations in response to inflation weight changes become very expensive.
Conic Finance uses Omnipools. These are single-asset liquidity pools that transfer liquidity to numerous Curve pools. Simultaneously, Curve LP tokens are deposited on Convex and staked in the relevant Convex pool rewards contracts. This will let LP earn CRV and CVX while gaining exposure to various Curve pools with a single LP token. Furthermore, Conic Omnipools assign a liquidity allocation weight to each Curve pool. This will impact how much liquidity a Curve pool receives from an Omnipool.
Conic LPs will also receive the Conic Finance DAO token, CNC. They can then lock it for vlCNC to join in protocol governance. A DAO vote will occur every two weeks. It will decide the modification of the liquidity allocation weights of each Omnipool. In a nutshell, Curve and Convex offer ways for CRV and CVX to vote on gauge inflation weights. Conic Finance, on the other hand, offers a technique for updating weights that directly transfer the liquidity of one or more assets across Curve pools.
Where to buy Conic Finance (CNC) Token
You can find CNC Tokens here at MEXC! We are listing CNC/USDT in our Assessment Zone!
What is the Price of CNC Tokens?
The live price of CNC tokens will be available soon. You can check the live price of their token right here!
How to buy CNC Tokens
You can buy CNC Tokens on MEXC by following the steps:
- Log in to your MEXC account and click [Trade]. Click on [Spot].
- Search “CNC” using the search bar to see the available trading pairs. Take CNC/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of CNC you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy CNC] to confirm your order. You will find the purchased CNC in your Spot Wallet.
You can find a detailed guide on how to buy CNC Tokens here.
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