Dear KuCoin Users,
KuCoin is extremely proud to announce yet another great project coming to our trading platform. Convex Finance (CVX) is now available on KuCoin. Supported trading pair is CVX/USDT.
Please take note of the following schedule:
- Deposits Effective Immediately (Supported Network: ERC20)
- Trading: 10:00 on February 02, 2022 (UTC)
- Withdrawals: 10:00 on February 03, 2022 (UTC)
Tags: DeFi, Yield Aggregator
|Total Supply||Market Cap||Issue Date||Consensus Protocol|
|Circulating Supply||24hr Volume||Issue Price||Cryptographic Algorithm|
* The key metric numbers are calculated as at Februry 01 2022; Issue Price represents the price of latest private sale price.
Convex Finance is an Ethereum-based decentralized finance protocol that enables users to generate additional yield through the popular Curve platform’s boosted rewards scheme. CVX is Convex’s native token, which is currently used for staking rewards and, in the future, as the platform’s governance token.
There are two methods by which Convex users can generate boosted yield from Curve. The first is by depositing Curve LP tokens into Convex. The protocol then locks the tokens to Curve’s boosted yield pools on the user’s behalf. Unlike when using Curve itself, LP tokens staked through Convex are not subject to any lockup or minimum deposit requirements. The second method is by depositing CRV tokens to Convex. Although users cannot redeem their CRV from Convex, they do generate extra revenue through Curve’s rewards system and Convex’s own LP fees.
Official Website: https://www.convexfinance.com/
Documents: Click to view
Risk Warning: Investing in cryptocurrency is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market, however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses.
The KuCoin Team
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