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Convex Finance Coin (CVX) is the native asset of the Convex platform, created by the Convex team with the motto of maximizing yield.
What Is Convex Finance (CVX)?
Convex Finance (CVX) is a protocol designed to simplify the Curve boosting experience to maximize yield. Convex allows Curve liquidity providers to earn trading fees and claim boosted CRV without having to lock their CRV. Liquidity providers earn boosted CRV and liquidity mining rewards with minimal effort.
By staking CRV, Convex allows users to earn a share of the trading fees and CRV received by liquidity providers. This leads to better capital efficiency and a more balanced distribution between liquidity providers and CRV holders. Curve liquidity providers can deposit their LP tokens into Convex to maximize their CRV earnings with enhanced support. Curve DAO token stakers can earn boosted CRV and CVX tokens through the protocol.
There are no deposit or withdrawal fees with Convex. A small performance fee is charged, which is distributed to CRV stakers and CVX token holders. As DeFi farmers, CRV saw a need for users to receive the maximum support in a simplified manner and collect their real rewards directly without automatic sales. Additionally, it was identified that CRV stakers should be rewarded more since they are mining alongside liquidity providers. Convex aims to change the system by taking a lower performance fee, redistributing the fees to CRV stakers and CVX token holders, and distributing the rewards directly.
Where to Buy CVX Coin?
Convex Finance can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. CVX Coin is traded on the Binance platform with pairs such as CVX/BTC, CVX/USDT, and CVX/BUSD.
To purchase Convex Finance (CVX), one must first register with the Binance exchange. Upon completing the registration, cryptocurrency or fiat money must be transferred to the Binance account wallet. After the transfer is completed, CVX Coin can be purchased from one of the three pairs mentioned above. For buying from the CVX/USDT pair, the user must first go to this pair’s interface. In the limit tab, the desired amount to be purchased is entered. Once the amount is specified, the purchase is completed with the Buy CVX order.
