As Curve becomes more crucial to DeFi’s many investors, Convex’s dominant place puts it in an extremely powerful position, but that is largely due to an unusual rule in Curve governance. Story ...

Convex allows users to access liquidity and earn fees from Ethereum-based stablecoin exchange Curve Finance, once the largest DeFi protocols with a total value locked (TVL) of $23 billion.

Convex Finance played a significant role in Curve’s maturity following its initial growth. It has over $1 billion in TVL and generates upwards of $10 million in fees annually.

Stablecoin protocol Reserve is investing $20 million into the governance tokens of yield farming apps Curve (CRV), Convex (CVX) and Stake DAO (SDT), according to a June 20 announcement.