What is Convex Finance?
DeFi platform Convex Finance, built on top of Curve Finance, allows the DEX’s CRV token stakers and LPs to get rewards. Via the optimizer, Curve.fi users can earn transaction fees and claim Curve DAO Token (CRV) without locking CRV. It's done by tokenizing veCRV vote locking tokens. CRV token holders receive veCRV after locking their tokens to vote. By doing so, they get rewards. CVX serves as a means of governance and interest-earning on Convex. It has a total supply of 100 mln. Convex Finance doesn't require any deposit or fund removal charges. Operational fees are dispensed to CRV stakers and CVX owners. After Curve LPs deposit CRV to Convex, the units are staked in an automated way with increased reward estimates. LPs earn CRV returns and also incentive tokens. They can get CVX for each CRV they receive. As for stakers, they deposit CRV in the network, which is locked permanently and get cvxCRV tokens instead. Afterwards, depositing cvxCRV in the reward contract, they get a part of raised CRV. The protocol allows exchanging cvxCRV for CRV through the incentive-based cvxCRV/CRV LP.