For spot buyers of $CRV now underwater after today's liquidation event: if you are a long-term believer in the @CurveFinance & @ConvexFinance ecosystems, one option is to stake your $CRV to earn yield while waiting for prices to recover.
Multiple staking protocols exist in the community with different benefits and risks. One of those options is staking your $CVX as $cvxCRV on @ConvexFinance. Current APR is about 15%.
Risks exist converting to $cvxCRV. The $cvxCRV to $CRV "peg" (not really a peg in the technical sense) is at 0.4 and could go lower (losing you money when you convert back to sell). On the flip side, if many holders now seek to earn yield while prices recover, increased demand for yield could drive the peg higher, improving underlying price in addition to earning yield.
Hopefully everyone's doing OK after this crazy liquidation event.
Show original
4.93K
29
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.