Convex Finance wallet

What is Convex Finance (CVX)?

Convex exists because Curve's boost system rewards long locks, and most liquidity providers do not want to commit CRV for years to get one. The protocol does the locking collectively and passes the effect through to depositors. CVX is the token of the protocol that runs this, and its interesting property is not what it pays but what it steers: because Convex controls a very large locked CRV position, CVX voting translates into influence over how Curve's emissions are directed between pools.

That influence is unlocked by locking. CVX is locked into vlCVX for a fixed term of roughly sixteen weeks, and the voting weight is what the locked position confers. While locked, the tokens are not in your wallet and cannot be transferred; when the term ends they become withdrawable to the same address that locked them, and many holders relock cycle after cycle rather than ever really taking them out. Voting power can also be delegated, which means the address votes without you signing each individual decision, but delegation itself is a transaction from your key.

Supported networks in Tangem (1): Ethereum.

Repeating lock cycles only work if the same address keeps showing up, year after year. With Tangem the key is generated inside the card and never leaves it, and an identical backup card restores that same address if the first is lost, with a seed phrase available only if you want one. Continuity of address is the whole requirement here, and a card meets it without ceremony.