Trade CVX/USD

When users deposit Curve LP tokens into Convex, their position is credited with a boosted CRV emission rate because Convex's accumulated veCRV entitles the protocol's entire pool to maximum boost. Without Convex, an individual LP would need to lock a proportionally large amount of CRV to achieve the same boost factor. Convex socializes this boost across all depositors, meaning small holders receive the same yield multiplier as large veCRV lockers, in exchange for a fee on CRV rewards that goes to CVX stakers and the protocol.

Convex has accumulated a majority or near-majority of all outstanding veCRV at various points since launch. Because CVX holders direct how Convex votes its veCRV in Curve gauge weight elections, controlling CVX is effectively controlling a large block of Curve governance votes. Protocols that want to direct CRV emissions to their liquidity pools found it more efficient to buy CVX or bribe CVX stakers through Votium than to accumulate veCRV themselves. This made Convex an intermediary governance layer that protocols must engage with to compete in the Curve Wars.

Votium is a bribe market where protocols deposit tokens to reward CVX holders who vote their gauge allocation toward a specified Curve pool. Every two weeks, CVX stakers collect these bribes proportional to their CVX position, earning yield denominated in the bribing protocol's tokens. The outcome is a secondary income stream for CVX holders beyond standard CVX staking rewards. The bribe yield per veCRV vote is tracked on-chain and forms the basis for evaluating whether accumulating CVX is more cost-effective than accumulating veCRV directly.

No. CVX/USD on StoicMarkets is a Contract for Difference. You trade CVX's price against the US dollar without holding any tokens. To stake CVX, vote on Curve gauge weights through Convex, receive bribe income, or boost Curve LP yields, you would need actual CVX tokens in an Ethereum-compatible wallet.