Description
Convex Finance is a decentralized finance platform built on top of Curve, Frax, and f(x) Protocol that simplifies boosted staking for liquidity providers and token stakers. Users can deposit LP tokens from Curve, Frax, or f(x) into Convex to automatically earn rewards with a group boost applied, and withdraw at any time. Convex also allows users to stake cvxCRV and lock CVX tokens, granting governance power over Curve, Frax, f(x), and Convex itself, including voting on emissions and proposals every 14 days. The protocol emphasizes security with immutable, non-custodial smart contracts that are peer-reviewed and audited by third-party firms. Convex primarily serves liquidity providers and yield-seeking DeFi users within the Curve, Frax, and f(x) ecosystems.