Convex Finance Review – Is Convex Finance Legit or Scam

Convex Finance Review

Convex Finance is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.

The benefits of Convex Finance are closely linked to the utility of the tokens which will be reviewed on this article.

Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.

Please note; This is not an Affiliate Link related article, neither is it a Promotional Article.

Convex Finance Review

About Convex Finance

A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Convex Finance token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.

What is Convex Finance?

Convex Finance is a DeFi protocol that allows Curve liquidity providers to earn a share of trading fees on Curve without staking liquidity there. Instead, LPs can stake with Convex and receive boosted CRV and liquidity mining rewards. This provides CRV stakers with better capital efficiency and positions Convex Finance as an important player in the Curve wars.

Convex has entered a competitive race to obtain as much control as possible of the Curve Finance stablecoin exchange. The more CRV tokens a protocol has, the more influence it has over interest rates on Curve, which is the largest DEX in the world by TVL. Consequently, the “Curve wars” are an ongoing race for influence over what is probably the most important protocol in DeFi.

Convex Finance Supply

There are 64,673,029.37 CVX in supply worldwide.

Pros and Cons of Convex Finance

Pros of Convex Finance  
Cons of Convex Finance  
  • The coin is still under research and development
  • Project whitepaper unavailable
  • Multiple issues with its synchronizations between ledgers
  • Not listed on some exchanges
  • No Github profile
  • They have no reddit account
  • No Bitcointalk thread created
  • No traceable features on tradingview

Is Convex Finance Legit or Scam?

A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.

According to research and reviews, Convex Finance have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.

Is Convex Finance Safe?

Being willing to invest in any token is a question entirely up to you to answer. Convex Finance token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.

Make personal research on the coin, visit coin’s official website.

Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Convex Finance on the comment section below. Don’t forget to rate and leave Convex Finance a review.