what's convex finance?
Convex Finance is a decentralized finance (DeFi) protocol built on Ethereum that optimizes and boosts rewards for liquidity providers on platforms like Curve Finance, Frax, Prisma, and f(x) Protocol. It allows users to stake Curve LP tokens and earn enhanced CRV rewards through its cvxCRV token, while vlCVX holders can participate in governance and vote incentives via gauges. The platform simplifies yield farming by aggregating liquidity and distributing CVX emissions to maximize returns for stakers. Key features include liquid staking derivatives like cvxPRISMA and integrations with various DeFi ecosystems for compounded yields.
Convex Finance holds 52% of voting Curve tokens (veCRV).
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Holds 52% of voting Curve tokens (veCRV).
Gearbox launches lending markets for Reserve Protocol's ETH+ pool featuring boosted rewards through Convex Finance staking and Beefy Finance auto-compounding.
Delegated vlCVX grows to 5.75M from the previously reported 4.88M. $122K distributed to Liquid Locker holders from voting power, and InverseFinance and Fraxfinance migrated vote incentives to Votemarket.
A vlCVX round completed with Stake DAO vlCVX delegators receiving a record reward distribution.
CVX rewards for this bribe epoch predominantly selected through Stake DAO Votemarket rather than Votium Protocol, causing delays in reward distribution.
Union round distributes $120k in rewards among 381 members representing approximately 7.92m CVX, while Votium experiences decreased activity as participants explore market efficiencies.
YieldBasis deploys $YB / $sdYB Curve liquidity pool on Convex Finance with 95% projected APR and boosted CRV emissions.
Convex Creator Collective completes first month in November with 10,000 CVX tokens distributed to winners for content showcasing boosted yields and governance power.
Asymmetry Finance deploys Votemarket Liquidity Mining Hook that automatically flows unspent veCRV vote incentive budgets to afCVX/CVX gauge on Stake DAO, enhancing LP rewards.
CVX removed from Coinbase 50 Index (COIN50) in fourth-quarter rebalancing alongside SKL, AKT, LPT, SNX, and HNT, as announced by Coinbase Institutional.
Gearbox protocol integrates Convex Finance positions despite them not being tokenized, allowing users to leverage Convex positions exclusively on Gearbox platform where other lending protocols cannot due to lack of tokenization.
New Union round distributes $170k in rewards among 366 members involving approximately 7.57m CVX.
Delegated vlCVX increases to 4.88M from the previously reported 4.5M.
Operational risk highlighted as basic flows remain unautomated after years of operation, creating team dependency that threatens protocol viability and extends risk to Curve protocol.
4M+ vlCVX delegated to Stake DAO, the only delegation optimizing the entire vlCVX market.
cvxCRV 30-day APR reaches 15.34%, trailing sdCRV at 25% and yCRV at 21.19% in CRV wrapper performance comparison.
Convex Finance contributes to over $50K in FXN gauge incentives for the current epoch alongside Token Logic, Asymmetry, YieldNest, SmarDex, Metronome, and Alchemix, with voting rounds still open on StakeDAO and Trevee.
Union round allocates $190k in rewards to 365 members with combined holdings of ~7.26m CVX.
CVX lockers receive 30% APR in round 109 payments this week.
YB integration generates $600k in vote incentives and pegkeeper fees for CRV/CVX at $150m TVL, representing 60% of YB fees.
TVL rankings show Convex no longer in top 12 DeFi protocols, having fallen from #6 three years ago, coinciding with decline of Curve Wars. Convex Creator Collective sign-ups close on the 15th of every month.
The Convex Creator Collective program launches, offering up to 10,000 CVX tokens monthly to participants.
clevCVX burn rate reaches a level where all clevCVX in the furnace will convert to CVX within one year due to high bribe volumes from Votium and StakeDAO Vote Market.
Over $70K in $FXN gauge incentives flows from seven protocols including Convex Finance, with the round ending on Votium but remaining open on StakeDAO and Trevee.
Union round distributes $199k in rewards among 372 members representing approximately 7.10m CVX.
YieldBasis tokens arrive to incentivize the pyUSD/crvUSD Curve pool after it was excluded from Convex Finance and StakeDAO vote incentives this round.
New YB vote incentives arrive at Votium Protocol and Stake DAO targeting vlCVX and veCRV voters for crvUSD pool voting.
The YieldBasis $YB airdrop has been distributed to all vlCVX participants who voted yes on Curve DAO ownership proposals 1222, 1213, and 1206.
Stake DAO distributes $125K this round to vlCVX delegators with over 4.5M vlCVX already delegated, offering weekly claimable rewards in raw tokens or scrvUSD.
A UI bug in the "Convert and Stake" feature prevented automatic swaps from CRV to cvxCRV and instead converted tokens 1:1. The team will distribute the full amount of missing cvxCRV tokens directly to affected wallet addresses.
Convex distributes $YB airdrop directly to vlCVX voter addresses with no claim action required.
4.5M vlCVX now delegated on the platform, up from 4.2M previously reported in October.
crvUSD depegged for several hours following a $16.3m (153 BTC) YieldBasis LP exit in tBTC, forcing Pegkeeper to exhaust all its remaining $27m reserves to stabilize the peg.
YieldBasis poses a major risk to the Curve ecosystem and $crvUSD, with direct implications for the interconnected protocol.
Over $70K in FXN gauge incentives flow from seven projects including Convex Finance, Token Logic, Asymmetry Finance, Inverse Finance, SmarDex, Metronome DAO, and Alchemix. Voting rounds remain active on StakeDAO and Trevee after Votium round closure.
Union round distributes $175k rewards across 370 members worth 6.91m CVX, while sreUSD launches with higher APR.
$1M distributed to vlCVX delegators since inception with 4.2M vlCVX currently delegated, and LlamaRisk crvUSD Optimizer Vault launches on Arbitrum using Stake DAO infrastructure.
A 4-token LP pool (fxUSD/USDC/USDaf/BOLD) on Convex Finance yields 21% APR with zero leverage, coinciding with BOLD supply reaching all-time highs.
The fxUSD/USDC Curve pool yields approximately 20% APR and ranks as the 2nd highest volume pool with $14m in liquidity.
Beefy Finance launches a vault for the USDaf Curve Stable Pool that automatically farms through Convex, with Nexus Mutual insurance coverage available at 1.28%.
Convex is now exclusively available on Gearbox protocol with 7 strategies offering 40%+ APYs.
New Union round launches with $230k rewards distribution across 388 members holding 7.31m CVX.
$129K in rewards distributed across Liquid Lockers and veSDT holders; new governance proposals launched for veCRV boost purchase and LP curation.
All-time high of 4.04M vlCVX now delegated to Stake DAO for voting rewards.
Record crvUSD rewards distribution scheduled for vlCVX Stake DAO delegators tomorrow.
New GM pools launch with 4.25% APY on $300k CVX liquidity and 12% APY on $6M CRV liquidity
New CVX/USD trading pair launches on GMX with 50x leverage capability on Arbitrum.
New trading pairs launch on GMX decentralized exchange platform.
YieldBasis proposes 60M crvUSD pre-mint for Bitcoin pools with significant veCRV governance control and multi-pool liquidity incentives.
New vlCVX voting platform launches with automated reward optimization and weekly claims.
$700M+ mortgage lender launches institutional stablecoin integration with new pool and yield incentives.
Over 254 million CRV tokens locked in past two months while $6.2M worth of tokens flow off exchanges daily, with 40% of circulating supply now locked for average 3.75 years.
New Union round launches with $220k rewards distribution across 404 members holding 7.35m CVX.
New $16K vote incentive program launches with three campaigns, including $8K for AAVE partnership.
Daily CRV exchange outflows of $6.2M exceed upcoming reduced emissions by 20x, creating supply shock conditions.
Gearbox TVL reaches $12M across 3 markets as exclusive lending protocol for leveraged positions.
Staking pools maintain high liquidity ($3.5M) with exceptional yields: 140% APR for staking, 88% APR on Pendle, and 93% APR for sUSDf.
$10M exploit-related debt fully resolved through $8.8M payment and $1.13M Yearn Finance loan, with repayment secured through protocol revenue from staked positions.
New Gearbox instance launches with $1.5M TVL and 100%+ yields, featuring leveraged Convex staking and $500K in Pendle PT purchases.
Multiple pools achieve 50%+ utilization rates with double-digit base APRs from trading fees, including sUSDe-sUSDS at 13.5%.
New synthetic dollar integration launches with Pendle and Curve, backed by $30,000 incentive program
Whale transactions reach 5th highest 3-month level during market downturn
Stake DAO accumulates 3.5M vlCVX in delegations, offering 0% fee optimized voting rewards.
Futures open interest hits new ATH at $448.5M for CRV and $40M for CVX, while major seller Jump Trading exits positions.
Multi-year accumulation ranges ($0.3-1.3 CRV, $1.5-7 CVX) show technical breakout potential with higher targets on range-high flip. NO SIGNAL
Gearbox integration enables first-ever leveraged lending capabilities through new Falcon pool launch.
Locked CRV tokens reach 420M, representing 110% increase from previous cycle peak of 200M in 2021.
New Binance Futures listing announced for CVX token.
New Union round distributes $270k rewards across 417 members holding 8.68m CVX tokens.
vlCVX delegation to Stake DAO reaches 2.4M tokens with 39% APR yield through optimized voting strategies.
CRV experiences 10% price spike to $0.92 triggering short liquidations with potential spillover effects on CVX shorts. NO SIGNAL
Ecosystem yields surge across Curve protocols with increasing CVX bribe opportunities emerging.
Price surges 110% in 10 days with next resistance at $14-$15 level.
Futures Open Interest surges $22.8M in 8 hours to $304M, approaching the all-time high of $310.2M, with current derivatives market showing 72% more liquidity than during previous price peak.
420M CRV tokens currently locked with additional 24M FRAX, 1.3M RSUP, and 116K FXN, while vlCVX offers 18% yield at current prices.
Stake DAO launches Vote Optimizer tool on Votemarket for maximizing veCRV and vlCVX voting returns.
Futures open interest for CRV surges by $24M to $255.7M, approaching December 2024 ATH of $307.35M, signaling accelerated institutional positioning.
New regulatory development 'Genius ACT' scheduled for passage next week.
Token provides diversified exposure across multiple DeFi protocols including $CRV, $FXS, and $FXN, reducing single-protocol risk.
Futures open interest surges with +$4.3M for CVX and +$50M for CRV since Monday, reaching higher levels than 2022's $6 price period.
Token approaches full dilution while trading 58% below intrinsic value, with continued growth in locked tokens.
New yield farming opportunities available with up to 7% APY through ETH+ETHx pool and ETHx Hyperloop integrations.
Milestone 100th Union round completed with $230k distribution across 406 participants.
scrvUSD hits record $50.7M supply on June 26th while offering 7.4% organic yield, positioning it as one of DeFi's highest-yielding stablecoin options.
New ETHx yield farming opportunities launch across three protocols offering 5-8% yields
ResupplyFi $9.8m exploit triggers $87m TVL decline in LlamaLend and $58m TVL drop in Resupply protocol, while crvUSD peg maintains stability through $15m Pegkeeper reserve deployment.
Critical oracle flaw in protocol-linked subDAO results in $9.5M security breach.
Developer contributes $1.4M personal funds to cover Resupply exploit debt, demonstrating strong team commitment to protocol security.
Security breach in affiliated subDAO protocol Resupply results in $9.5M loss.
New $700K llamathena position deployed with 60% APY yield farming opportunity through curve-convex-gearbox integration.
Snapshot vote launches for fxUSD/BOLD LP integration with cross-protocol voting through veFXN, CVX, veCLEV, xALD, and sdFXN.
Trading fees and veCRV yields show sustained decline due to DEX competition, while upcoming yieldbasis launch presents catalyst potential with 20% APR strategies requiring crvUSD.
Shows breakout potential with top 10 LunarCrush AltRank™ placement and increased social activity.
Multi-protocol integration enables ETHx yield opportunities ranging from 3-8% across three major DeFi platforms
Protocol fees surge 684% over past 3 months, indicating substantial revenue growth.
New fxSAVE/scrvUSD LP deposit option launches with 29% APR yield opportunity.
Circle IPO catalyst expected to drive new stablecoin issuance, leading to increased staking and yield opportunities through LP positions.
reUSD experiences $6M market cap decline amid $128k weekly redemption fees, signaling sustainability concerns for borrower retention and protocol growth.