Convex Finance CVX

Convex Finance (CVX) was trading at $2.32, ranked #167 by market cap at $216.12M, with 24h volume of $12.04M.

Data snapshot: 2026-09-02 12:15 UTC. ↻ Refresh live price

Convex was built on top of Curve, letting liquidity providers earn boosted Curve rewards without locking CRV themselves by pooling everyone's lock into one large position. It became the centre of the so-called Curve wars, where protocols competed to accumulate voting power over where Curve's emissions flowed — a case study in one protocol becoming the governance layer of another. Convex exists because of a specific inefficiency: Curve's vote-escrow model rewards long locks, which most liquidity providers cannot commit to. Convex locks CRV permanently on their behalf and passes through the boosted rewards, aggregating voting power in the process. That made it one of the largest holders of Curve voting power and a central player in the competition to direct emissions. It is a clear example of a protocol whose entire value derives from another protocol's mechanism design — which is also its main risk.

Market cap decides how big a bubble is drawn, so rank is what places CVX on the map relative to the rest of its sector.