Convex Finance is a DeFi system built on top of Curve Finance, a stablecoin exchange. Convex's primary concept is to reward curve liquidity suppliers and CRV stakers with extra rewards for customers who put in less effort.
When CRV coins are staked, stakers are given a share of the platform. CVX is a cryptocurrency that is used to vote on how Convex Finance assigns its veCRV to Curve.fi gauge weight votes. To participate, users must vote-lock their CVX tokens.
Through a Masterchef staking rewards contract, CVX is awarded to cvxCRV/CRV and CVX/ETH LPs that stake their LP tokens on the Convex platform.
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