afCVX: Asymmetry Finance Convex

Convex Finance (CVX)

Convex Finance is the governance aggregator of DeFi, amassing significant voting power across leading DeFi protocols (e.g. Curve, Frax, f(x), Prisma).

Convex has locked a ton (~42%!) of Curve (CRV), giving it enormous influence over Curve's governance decisions, and earning substantial fees.

Why is this important?

Users who lock their Convex tokens as vlCVX get to vote on where this veCRV voting power goes. vlCVX also receives rewards from the Votium Vote Market, where protocols like Curve, Frax, and even TradFi giants like Paypal incentivize vlCVX holders to vote for their pool.

The rewards for vlCVX have been astronomical over the last ~2.5 years. $301.07 million (USD) worth of incentives have been paid out over 69 rounds (nice) as of writing, for an average of $4.36 million per round.

The Current Problem

vlCVX holders can receive all of these incentives, however, as the incentives are paid out in a variety of tokens, it can become expensive, complicated, and tedious to vote-lock and harvest yourself.

Additionally, users are locked for a mandatory 16-week lock-up, unless they use a wrapper that allows early withdrawals. However, the only wrapper in existence that allows early withdrawals charges up to a whopping 5% fee to do so, eating up a massive chunk of your yield!

That was the case, until now.

With instant liquidity, no mandatory 16-week lockups, and nearly twice the yield of the competition, afCVX is the Ultimate Supercharger for Convex.