Convex Finance

Convex Finance generated $1.7B in gross revenue from May 2021 to Apr 2026 (1807 days), with $56.5M retained as net revenue. $44.0M accrued to CVX token holders. Its primary token utilities include Staking Rewards, Delegated, and Other.

This averages $$955.5K in daily gross revenue across the tracked period.

CVX accrues value through 1 mechanism: Direct Revenue Share.

• Direct Revenue Share: CVX stakers receive 4.5% of CRV revenue as cvxCRV, vlCVX holders receive an additional 1% of CRV revenue and 5% of FXS emissions as FXS, and cvxFXN stakers receive 75% of f(x) Protocol revenue — all requiring staking or locking CVX to be eligible.

No, Convex Finance does not currently burn CVX tokens. The protocol does not employ a buy-back-and-burn or direct token burn mechanism.

CVX serves 3 primary functions within the Convex Finance ecosystem: Staking Rewards, Delegated, and Other. The protocol generates fees from user activity, with a portion distributed back to CVX holders. Value flows back to token holders through Direct Revenue Share. Convex Finance's fee revenue currently exceeds its token emissions, indicating a self-sustaining economic model.

Token utilities:

• Staking Rewards: CVX can be staked to earn cvxCRV (a share of Curve LP CRV earnings), and vote-locked CVX holders receive additional fee shares from CRV and FXS revenue, yielding roughly 1.5–4% annually.
• Delegated: vlCVX holders can delegate their voting power to Votium or other representatives without transferring tokens, and the protocol has a built-in vote delegation mechanism.
• Other: CVX must be vote-locked for a fixed 16-week period to gain governance voting power (vlCVX), but unlike classic vote-escrow, all lockers receive the same weight regardless of lock duration — weight is proportional only to amount locked.

Value accrual mechanisms:

• Direct Revenue Share: CVX stakers receive 4.5% of CRV revenue as cvxCRV, vlCVX holders receive an additional 1% of CRV revenue and 5% of FXS emissions as FXS, and cvxFXN stakers receive 75% of f(x) Protocol revenue — all requiring staking or locking CVX to be eligible.

In 2026, Convex Finance generated $6.5M in gross revenue. Of that, $296.3K was distributed to token holders, $187.4K was retained as protocol revenue (treasury), $6.0M went to supply-side participants (e.g. liquidity providers).

Year-by-year revenue breakdown:

• 2026: $6.5M gross revenue — $296.3K to holders, $187.4K to protocol, $6.0M to supply-side
• 2025: $58.3M gross revenue — $2.6M to holders, $2.1M to protocol, $53.6M to supply-side
• 2024: $68.8M gross revenue — $2.7M to holders, $1.7M to protocol, $64.4M to supply-side

Convex Finance's gross revenue has decreased by 45% over the past 90 days compared to the prior 90-day period, from $7.5M to $4.1M.

• Recent 90d daily average: $46.6K/day
• Prior 90d daily average: $83.8K/day