What Convex Finance does

Convex Finance is a non-custodial DeFi yield aggregator launched in April 2021 on Ethereum that allows liquidity providers to earn boosted CRV rewards without themselves locking CRV into Curve's vote-escrow system. Users deposit Curve, Frax, f(x) Protocol, or Prisma LP tokens into Convex's Booster contract and automatically receive group-boosted rewards streamed via the BaseRewardPool, with the underlying voting power aggregated and exercised by the protocol on their behalf. Convex subsequently extended the same boost-as-a-service architecture to Frax (cvxFXS), f(x) Protocol (cvxFXN), and Prisma Finance (cvxPRISMA), and deployed to Arbitrum and Polygon sidechains in 2022-2023.

The platform's core technology stack is a set of audited, immutable Solidity smart contracts — the Booster contract for LP deposits, BaseRewardPool for reward distribution, a 1:1 tokenization mechanism for vote-escrowed positions (cvxCRV, cvxFXS, cvxFXN), a vote-locking mechanism (vlCVX) requiring 16-week minimum lockups aligned to Thursday epochs, and a cliff-based CVX minting formula capped at 100 million tokens across 1,000 cliffs of 100,000. Governance is exercised by vlCVX holders via Snapshot-based gauge-weight votes every two weeks across Curve, f(x), and Convex proposals; administrative functions are controlled by a 3-of-5 Gnosis Safe multisig.

Convex makes money exclusively through performance fees on generated rewards — 17% on CRV revenue from Curve LPs, 20% on FXS revenue from Frax LPs, and 17% on boosted FXN revenue — with the retained share split between cvxCRV/cvxFXS/cvxFXN stakers, vlCVX holders, the treasury, and a harvest caller. The go-to-market is product-led growth: a self-serve web application and direct smart-contract interaction on Ethereum, Arbitrum, and Polygon, distributed globally through Discord, Twitter, Medium, GitHub, and comprehensive documentation rather than paid sales or marketing. End users are crypto-native Curve liquidity providers, CRV stakers, CVX token holders, and governance participants seeking yield, liquidity, and voting power without manual lockup management.

Name

Convex Finance

Legal name

Convex Finance

Website

https://convexfinance.com

Company type

Private

Founded year

2021

Operating status

Operating

Short description

Convex Finance is a non-custodial DeFi yield aggregator on Ethereum that lets Curve, Frax, f(x), and Prisma liquidity providers earn boosted token rewards without locking governance tokens, while tokenizing those locked positions into liquid cvx-prefixed wrappers. It serves crypto-native LPs and governance participants globally via a self-serve web app and direct smart-contract interaction.

Ownership category

akta.pro rank

Product category

Decentralized Finance (DeFi) Yield Aggregation

NAICS

Other Financial Investment Activities (5239), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Finance Services (6199), Investment Advice (6282)

akta.pro primary industry

Yield Aggregators & Strategy Vaults (FSADAMAF)

akta.pro secondary industries

Yield Aggregators, Auto-Compounding & Strategy Vaults (DeFi Yield) (FSADAHAK), Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Staking, Restaking & Liquid Staking Finance (LST/LRT, validator markets) (FSAPAEAH)

Keywords

• DeFi yield aggregator
• Boosted staking protocol
• Liquid staking derivatives
• Governance token infrastructure
• Vote escrow tokenization

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Others, Marketing or Sales

Revenue model

1. Performance Fees - Curve: 17% total fee on all CRV revenue generated by Curve LPs on the platform. Distributed as: 10% to cvxCRV stakers (paid as CRV), 4.5% to CVX stakers (paid as cvxCRV), 2% to treasury (as CRV), 0.5% to harvest caller (as CRV). Fees are taken only from CRV revenue, not from incentivized Curve pools or veCRV admin fees.
2. Performance Fees - Frax: 20% total fee on all FXS revenue generated by Frax LPs. Distributed as: 10% to cvxFXS LPs (as FXS), 5% to vlCVX holders (as FXS), 5% to treasury.
3. Performance Fees - FX Protocol: 17% total fee on FXN boosted LP revenue. 75% of FX Protocol revenue distributed to cvxFXN stakers; Convex retains 25% of veFXN fees which goes to treasury.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Convex Finance is a non-custodial DeFi yield aggregator built on Ethereum that enables liquidity providers to deposit Curve, Frax, and f(x) Protocol LP tokens and earn boosted CRV/FXS/FXN rewards without locking the underlying tokens themselves. The protocol tokenizes vote-escrowed positions (cvxCRV, cvxFXS, cvxFXN, cvxPRISMA) so users remain liquid while earning staking yields and governance fees.

Product overview

Convex Finance is a unified DeFi yield aggregator platform that provides boosted staking services for multiple protocols: Curve Finance, Frax Finance, f(x) Protocol, and Prisma Finance. The platform's core products include: the main Convex Finance platform for LP token staking with automatic boost application; cvxCRV, cvxFXS, cvxFXN, and cvxPRISMA which are tokenized representations of locked voting positions (veCRV, veFXS, veFXN) enabling users to maintain liquidity while earning staking rewards; the CVX native token used for governance and staking; and vlCVX for vote-locked governance participation. The platform also provides smart contract infrastructure (Booster, BaseRewardPool) for reward distribution and the CVX minting mechanism. Users deposit LP tokens from any supported protocol to automatically receive boosted rewards without manually locking tokens themselves.

Differentiator

Problem solved

Functional benefit

Products and services

• Convex Finance Platform A DeFi yield aggregator platform built on Ethereum that allows liquidity providers to earn boosted rewards from Curve, Frax, f(x) Protocol, and Prisma by depositing LP tokens. The platform provides automatic reward claiming, group boost application, and governance participation for veCRV/veFXS/veFXN holders.
• cvxCRV Tokenized representation of veCRV (vote-escrowed CRV) at a 1:1 ratio. cvxCRV is minted when users deposit CRV into Convex, locking the CRV as veCRV on Curve. Stakers earn Curve admin fees as crvUSD, CRV from Convex's performance fee, and CVX tokens.
• cvxFXS Tokenized representation of veFXS for Frax Finance integration. cvxFXS is minted 1:1 when users claim FXS rewards through Convex, locking FXS as veFXS. Distributed to cvxFXS LPs as FXS rewards.
• cvxFXN Tokenized representation of veFXN for f(x) Protocol integration. Users can convert FXN to cvxFXN to earn a share of veFXN rewards plus boosted FXN earnings from Convex LPs and CVX tokens.
• cvxPRISMA Tokenized position for Prisma Finance integration on Convex. Used for staking Prisma LP tokens and receiving boosted rewards with Prisma gauge weight voting.
• CVX Token The native platform token for Convex Finance. CVX can be staked to earn a share of Curve and Frax LP's CRV and FXS earnings. Vote-locked CVX (vlCVX) is used for governance participation in gauge weight votes and protocol proposals. Max supply of 100 million CVX with 1,000 cliffs of 100,000 tokens each.
• vlCVX (Vote-Locked CVX) CVX tokens locked for 16 weeks (plus days until next Thursday) to participate in governance. vlCVX holders can vote on Curve and f(x) Protocol gauge weight emissions and Convex admin proposals. Weekly epochs begin Thursday 0:00 UTC.

Quantifiable outcome

• Users earn boosted CRV without locking CRV themselves
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Curve FinancecoreStrategic or Co-development PartnerConvex is built on top of Curve Finance, utilizing Curve's AMM, gauges, and CRV token. Convex aggregates veCRV voting power and provides boosted staking for Curve LPs. The partnership is fundamental to Convex's existence and value proposition.
• Frax FinancecoreStrategic or Co-development PartnerConvex provides boosted staking for Frax LP tokens, similar to its Curve integration. Users can stake Frax LP tokens to earn FXS rewards with Convex's boost mechanism applied.
• f(x) ProtocolcoreStrategic or Co-development PartnerConvex extends its boosting services to f(x) Protocol, allowing users to stake f(x) LP tokens and earn boosted rewards. CVX holders can vote on f(x) gauge weights.
• Prisma FinancecoreStrategic or Co-development PartnerConvex supports Prisma Finance LP staking with its standard boosted rewards mechanism, similar to Curve and Frax integrations.
• VotiumminorGTM or Marketing PartnerThird-party platform providing external incentives for Curve & f(x) Protocol Emissions Weight Votes. vlCVX holders can earn Votium incentives when voting for certain pools.
• MixBytesminorOthersPerformed general contracts audit in April 2021 for Convex Finance smart contracts.
• PeckshieldminorOthersPerformed multiple audits including Convex Wrapper audit (Sept 2022), Convex Frax audit (April 2022), and Convex Sidechain audit (Nov 2022).
• ChainsecurityminorOthersPerformed Convex Wrapper audit in April 2023.
• NomoiminorOthersPerformed Convex Wrapper audit (Jan 2023) and Convex Sidechain audit (Jan 2023).

Recent moves6 records

Expansion highlights4 records

Market position

Strengths4 records

Weaknesses3 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/convexfinance
• GitHubgithub.com/convex-eth

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Convex Finance