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. As of Wednesday, Curve’s TVL had dropped to $3.2 billion, in line with a broader market fall. Convex locks over $3 billion and held over $21 billion during its 2021 lifetime peak.
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