We’re pleased to announce that CDCETH has been listed on both Curve Finance and Convex Finance.
What are Curve Finance and Convex Finance?
Curve Finance is one of the largest decentralised exchanges (DEX) on the Ethereum network. Users can earn a passive income by locking their idle cryptocurrencies into liquidity pools on Curve Finance that other users can trade and interact with.
Convex Finance is a DeFi protocol that aims to maximise rewards on the Curve Finance protocol. It operates on the Ethereum blockchain and acts as yield optimisers for liquidity providers on Curve Finance as well as CRV token holders.
CDCETH on Curve Finance and Convex Finance
You can now swap CDCETH, and deposit it into the CDCETH-WETH liquidity pool to earn trading fees from the liquidity pool.
Additionally, Curve DAO has voted for the CDCETH-WETH pool to be added to the Curve liquidity gauge, a DAO-controlled smart contract that provides extra CRV rewards to the CDCETH-WETH liquidity pool. With the CDCETH-WETH gauge, CRV token lockers (veCRV holders) can vote for the CDCETH-WETH gauge to direct CRV incentives to the pool. This encourages higher liquidity for the CDCETH-WETH pool, which will be able to facilitate higher volume at a lower slippage. A higher trading volume will bring higher fees earned by the liquidity providers. Furthermore, users can stake their CDCETH-WETH LP tokens on Convex Finance for additional CVX and CDCETH rewards.
Maximise your earning potential on Curve Finance and Convex Finance in three steps:
- Swap your ETH for WETH (Wrapped ETH) and/or CDCETH
- Deposit CDCETH and WETH proportional to the pool balance into the CDCETH-WETH liquidity pool on Curve Finance to earn a share of its trading fees (Pro tip: Depositing quantities proportional to the pool balance is best to minimise slippage)
- Deposit the CDCETH-WETH Liquidity Provider (LP) token to Curve Finance or Convex Finance, and earn extra rewards in either CDCETH and CRV, or CDCETH, CRV and CVX
Users can also deposit into CDCETH-WETH liquidity pool directly from the Crypto.com DeFi Wallet, allowing users to conveniently swap with or deposit liquidity into the pool. Download the DeFi Wallet app now to easily add liquidity and earn CRV rewards.
Why support CDCETH on AMMs and yield protocols
CDCETH liquidity providers earn rewards from trading fees in CDCETH/ETH, high incentive rewards in CDCETH, CRV, and CVX (~50% as of now) on top of the staking reward from CDCETH. CDCETH holders can enter and exit with ETH to get instant exposure to staking rewards or exit the staked ETH position without going through the long activation or withdrawal period for staked ETH.
By supporting and growing the size of CDCETH liquidity pools in AMMs and yield protocols, CDCETH holders can also enter/exit their CDCETH position on-chain with minimal slippage. Deep on-chain liquidity is also the first step to providing more utilities to CDCETH on-chain by listing it on a wider variety of protocols that have implicit prerequisites for on-chain liquidity. These include lending, CDP, and restaking protocols
