What is Convex Finance (CVX)

CVX (CVX/USDT – Trade it Here) is the native token for Convex Finance that allows owners to participate in the governance process and earn a share of Curve Liquidity Provider’s CRV (the native token of Curve.fi) earnings. Convex Finance is a decentralized finance platform on the Ethereum blockchain that allows Curve.fi liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves; it has now expanded to serve FRAX Finance, which adopted a similar token-locking model regarding its native governance token FRX. This article explores the core features and overall tokenomics of CVX (plus ways of how to buy and earn CVX on MEXC).

Convex Finance CVX on MEXC
What is Convex Finance (CVX)

Core Features of Convex Finance

Convex Finance serves as a companion software to Curve.fi.

  • Convex rewards CRV stakers with a share of the boosted CRV on the Convex platform, making it an ideal destination for those who wish to stake CRV whilst remaining liquid.
  • Convex allows liquidity providers to earn claimable CRV with a high boost without locking any CRV and earn CVX rewards with Zero deposit and withdrawal fees and zero fees on extra incentive tokens (SNX, etc)
  • Similar to the way Convex works for Curve.fi, Frax LPs can enjoy socialized (and simplified) boosting mechanics for their LP positions when staked on Convex Finance.

What does CVX token do?

  • CVX can be staked on Convex Finance to earn a share of Curve LP’s CRV earnings.
  • Staked CVX will receive its portion of the fees as cvxCRV (tokenized veCRV). This is to keep CRV in the system building boost, but users can trade out their cvxCRV through the cvxCRV/CRV liquidity pool.
  • Vote-locked CVX tokens receive additional fees from both Curve.fi and Frax Finance LPs.
  • Convex CRV fees that would be returned to CVX stakers are locked in veCRV, and tokenized as cvxCRV and given to the CVX stakers.
  • CVX is used for voting on how Convex Finance allocates it’s veCRV towards Curve.fi gauge weight votes. Users must vote-lock their CVX tokens in order to participate. Full details on the “Voting and Gauge Weights” page

Convex Finance Tokenomics

There is a total supply of 100 million CVX tokens. CVX is minted pro-rata for each CRV token claimed by Curve LP’s on Convex, with the mint ratio reducing every 100k CVX. The current roadmap for the specific ratio is as illustrated below:

Convex Finance Tokenomics
Convex Finance Tokenomics

At the time of writing, Convex Finance has an estimated market cap of $520,898,306 and a fully diluted market cap estimated at $799,440,584. There is a circulating supply of 65,988,303.81 CVX tokens. The distribution of the tokens at the time of the white paper constitution is as below:

CVX Token Distribution

How to buy CVX?

Looking for a way to buy CVX? You can purchase the Convex Finance token on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “CVX” using the search bar to see the available trading pairs. Take CVX/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of CVX 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 CVX] to confirm your order. You will find the purchased CVX in your Spot Wallet.

For the comprehensive guide on how to buy CVX and other available tokens, please visit special MEXC How to Buy Guides Section.

Recent CVX Price & Performance

CVX reached the highest price (ATH) of 56.81 USD on January 1st, 2022. The lowest price of CVX since the ATH date was 3.1275 USD on June 18th, 2022.

Convex Finance Staking

On MEXC you can periodically stake Convex Finance and other tokens via MX DeFi event plus other staking products with flexible and fixed APYs. You can check the availability of CVX staking option here.

Interested in crypto like CVX?

MEXC lists moonshot and provides access to trading of major crypto coins like CVX, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Join MEXC and Start Trading Today!