​DeFi Tool Convex to Make Changes to Staking Service for Curve | Просто о крипте

​DeFi Tool Convex to Make Changes to Staking Service for Curve Token Rewards

Convex Finance is making updates to its staking system on the Curve protocol that will allow users to earn more rewards and have more control over what rewards they receive.

Convex Finance is also proposing changes to the fees on the platform and redirecting some of the existing rewards to provide more incentives for staking.

These updates will be applied to the cvxCRV – which refers to the Convex and Curve token derivative staking system on Curve. The updates will allow users to add additional incentives to their cvxCRV staking, as well as adjust their rewards to include a mix of curve (CRV) and convex (CVX) tokens.

Convex allows users to access liquidity and earn fees from Ethereum-based stablecoin exchange Curve Finance, once the largest DeFi protocols with a total value locked (TVL) of $23 billion. As of Wednesday, Curve’s TVL had dropped to $3.2 billion, in line with a broader market fall. Convex locks over $3 billion and held over $21 billion during its 2021 lifetime peak.

Curve tokens (CRV) are issued as yield farming rewards to liquidity providers on Curve Finance, and can be converted into vote-escrowed CRV (veCRV). Holding veCRV allows users to participate in platform governance, earn higher rewards and fees and receive airdrops.