Convex Finance will launch a new cvxCRV Wrapper contract

2023-01-03 08:38:40

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ChainCatcher news, the one-stop platform for CRV staking and liquidity mining, Convex Finance, will launch a new cvxCRV Wrapper contract that allows for additional incentives for staking cvxCRV. Users can choose the reward token types (for example, only accepting CRV and CVX, only accepting 3CRV, or any user-adjustable weighted combination), and staking cvxCRV complies with the ERC-20 standard.

In addition, Convex will soon release a proposal to adjust the platform fee distribution structure to leverage the new features of the Wrapper. Convex hopes to allocate 2% of the platform fees to buy back existing cvxCRV and stake it in the new Wrapper contract, aiming to increase the overall rewards of the Wrapper while removing cvxCRV from circulation. (source link)

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Convex Finance cvxCRV

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