>in, Finance became most prominent protocols in the DeFi field by allowing users to optimize profits from LockingRp With an attractive incentive model and sleek design, Convex once reached a TVof over $21 1 billion USD – a number that shows its significant influence during the DeFi boom. What is this project? Let's explore with Allinstation through the article article below!Read more article:What is C? Why is Curve a Giant in the DeFi World?Convex Finance is a platform yield optimizer operating on Ethereum, supporting Curve Finance users to increase rewards from directly CRV stor providing liquCurve pools. The Notably, users do not need to directly lock CRV into veCbutRcan enjoy similar benefits through Convex's proxy system.
CRV owners who want to stake to receive maximum rewards.
Curve Liquidity Providers (Curve want to optimize APY without self-locking CRV.
Howx Finance Work?LP: curve LP tokens from Curve to receive CRV, CVX, and additional pool tokens.
Not just a yield optimizer for Curve Finance, but is also expanding to other other DeFi protocols. Currently, Convex has integrated with Prisma Finance, Frax Finance, and f(x) Protocol – emerging platforms in the stablecoin and LSD (Liquid Staking Derivatives.
With Frax Finance, StLP token stfrom FRAX/USDC, FRAX/ETH pools to increase rewards from both CRV. This allows users to receive optimal yields without directly locking CRV.
With Prisma Finance, users can stake collateral likeLST (mint mkUSDst, then stake LP tokens from mkUSD on Convex to optimize rewards.
<.With f(x) Protocol, Convex acts as a yield aggregator for synthetic assets issued and traded on the platform.
This expansion shows Convex is transforming from a specialized tool for Curve into a multi-protocol yield optimization center, approaching users and capital flows from various DeFi ecosystems. This is also a driving force keeping Convex's TVL stable despite market fluctuations.
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Those who lock CVX are allowed to vote in proposals about veCRV reward allocation, which is very important because it directly affects the yield of pools on Curve.
This is part of the "Curve Wars" - the battle to control veCRV to win rewards for liquidity pools.
Multi-Protocol Yield Optimization System
Besides Curve, Convex has expanded support for other protocols such as:
Frax Finance: Stake LP tokens of FRAX pools to receive aggregated rewards.
Prisma Finance: Optimize yield from stablecoins like mkUSD minted from LST.
f(x) Protocol: Integrate synthetic assets and yield generated from LSD on new chains.
This expansion helps Convex become a multi-protocol Yield-as-a-Service platform, expanding opportunities for investors beyond just Curve.
Highlights of Convex Finance
No CRV locking required: Users still receive benefits like veCRV.
High yield: Users receive rewards from multiple sources: CRV, CVX, cvxCRV, and pool incentive tokens.
No withdrawal fees: Helps users be flexible and save money.
Optimize LP profits: For liquidity providers on Curve without complex CRV management.
Strong community and broad support: CVX is one of the most influential governance tokens in the "Curve Wars".
Stake to receive platform rewards (fees from Convex)
Participate in Convex Finance governance
Vote on veCRV governance direction and influence Curve pools
Convex Finance was developed by a group of anonymous developers, similar to Bitcoin.
Convex Development Team
Convex Finance was developed by an anonymous dev team, which is common in early DeFi projects. Although their identities are not public, the protocol has gained the trust of the Curve community and large funds due to its clear and transparent effectiveness.
Current Operational Status (2025)
As of mid-2025:
Convex remains the largest yield optimization platform in the Curve ecosystem.
TVL remains stable around $2-3 billion, lower than the 2022 peak but still top-tier in DeFi.
CVX is still listed on Binance, Coinbase, OKX, Kraken, Bitget, Uniswap,… with good liquidity and present in many DeFi Index.
Ecosystem expanded with Convex for Prisma, Frax, f(x) helping to increase user base beyond Curve.
Summary
Convex Finance is one of the core DeFi projects helping to optimize rewards for Curve users. With a strong governance system, clear token allocation, and ability to expand to other protocols, Convex maintains its position as an indispensable tool in the DeFi world's "profit war".
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Not just a yield optimizer for Curve Finance, but is also expanding to other other DeFi protocols. Currently, Convex has integrated with Prisma Finance, Frax Finance, and f(x) Protocol – emerging platforms in the stablecoin and LSD (Liquid Staking Derivatives.
