To solve this problem, Convex pools all user assets together so that it can purchase curve tokens, convert them into veCRV, and maximize rewards for its liquidity providers. This allows Convex users to receive Curve rewards without locking up curve tokens for lengthy periods. Source link … [Read more...] about DeFi Protocol Convex Finance Crosses $20B in Locked Value
Convex
Possible Yearn rival Convex Finance passes $1 billion in total value locked
While much of the market reels from a devastating pullback that has dragged DeFi’s closely-watched total value locked (TVL) figure down from all time highs, one protocol is shrugging off the macro weight and surging up the TVL leaderboard. Ethereum-based Convex Finance ($CVX) cracked a billion dollars in TVL earlier today, rising as high as $1.14 billion and briefly cracking … [Read more...] about Possible Yearn rival Convex Finance passes $1 billion in total value locked