CVX
Convex Finance is developed by a team of anonymous developers. However, unlike many projects, Convex Finance is considered one of the most important and effective protocols in decentralized finance, and therefore is a relatively low-risk investment.
The term CVX coin is often used in the cryptocurrency world, but CVX is a token. The CVX token is produced according to ERC-20 standards on the Ethereum blockchain. Since CVX does not have its own blockchain and is produced on Ethereum, it is classified as a token rather than a coin.
Convex Finance is a protocol designed for the Curve platform. The protocol allows users of this platform to earn additional income. The native token of the platform is called CVX Token. Users utilize CVX Token to pay fees and for other services while using Convex Finance.
Convex Finance is one of the DeFi protocols that plays a significant role in the world of DeFi (Decentralized Finance). So, what is Convex Finance and CVX Coin, which many cryptocurrency investors are curious about, and how does it work?
Simply put, Convex Finance is a platform that enables Curve Finance users (Curve.fi liquidity providers) to earn more rewards. While Convex allows users providing liquidity on Curve to earn higher rewards, it also makes it possible to obtain these rewards without the need to lock CRV tokens on Curve.
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