What is Convex?
Convex is an open-source blockchain project developed as a performance optimization and automation network based on another well-known blockchain project, Curve Finance. A native CVX token in ERC20 format is used to support the service protocol. The token is distributed as a reward for providing liquidity through the Curve platform. Users can use CVX staking for additional income. Benefits of the service include no withdrawal fees. The platform also has no minimum commissions for pooling funds, which can reduce the cost of gas when network utilization is low.
Convex is a platform designed to increase rewards for both CRV participants and liquidity providers in a simple and easy-to-use interface. Convex aims to simplify staking on Curve as well as the CRV blockchain system with its own payment token: CVX.