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About Convex Finance
Disclosures
Convex Finance risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Convex Finance. All crypto assets are risky, there are general risks in investing in Convex Finance. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
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Convex Finance FAQ
Convex Finance is a decentralized protocol on Ethereum that enables Curve Finance liquidity providers and stakers to boost their CRV rewards while keeping their CVX tokens liquid. CVX is the name and ticker symbol of Convex Finance's native governance.
When a user sends CRV to Convex Finance, the deposited tokens are locked forever on the platform as veCRV. The protocol then tokenizes veCRV into cvxCRV at a 1:1 rate and returns cvxCRV to the user. The tokens can then be used for staking and providing liquidity to earn rewards.
Easily buy CVX tokens on the OKX cryptocurrency platform. One available trading pair in the OKX spot trading terminal is CVX/USDT. You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for CVX with zero fees and no price slippage by using OKX Convert.
Dive deeper into Convex Finance
Convex Finance is a leading DEX liquidity pool on Ethereum that allows Curve Finance liquidity providers (LP) and stakers to earn boosted CVX and CRV, Curve DAO's native token. MixBytes audited Convex Finance before its launch to maximize security. CVX is the name and ticker symbol of Convex Finance's native platform token.
Convex Finance maintains the liquidity of all assets while maximizing rewards. Curve LP tokens earn users trading fees, CRV, and liquidity mining incentives in CVX. At the same time, CRV stakers get a share of the boosted CRV, CVX tokens, and Curve's trading fees. Curve LP tokens can be withdrawn at any time.
Additionally, users can provide liquidity to the cvxVRV/CRV and CVX/ETH liquidity pools on the SushiSwap decentralized exchange and earn SUSHI LP tokens. SUSHI LP tokens earned can be staked on Convex to earn liquidity provider rewards in CVX. With CVX, users will earn a share of Curve LP's CRV earnings. Likewise, users who stake CVX will receive cvxCRV fees. Finally, CVX holders can vote on protocol decisions.
CVX price and tokenomics
Convex Finance has a maximum supply of 100 million CVX tokens. 50% of the CVX supply is reserved as Curve LP rewards on Convex Finance. The protocol mints CVX proportional to each CRV token claimed by Curve LPs on Convex Finance. The CVX/CRV mint ratio reduces every 100,000 CVX, thus impacting CVX price.
25% of the CVX supply is reserved for liquidity mining, 9.7% is allocated to the Convex Finance treasury, 3.3% for investors, and 10% will go to the Convex Finance team. The treasury, investor holdings, and Convex Finance team tokens will follow a one-year vesting schedule. As vesting tokens are unlocked, CVX price charts will be impacted. The remaining 2% of tokens is airdropped to veCRV holders.
About the founders
Convex Finance was launched in May 2021 and is supported by the Curve Finance team. Additionally, convex Finance has partnerships with Frax Finance, BadgerDAO, and Zerion, which allows users to track Convex Finance positions on their platform.
Disclaimer
OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.