According to data from Footprint Analytics, the TVLs of both Curve and Convex surpassed Aave, formerly the No. 1 DeFi protocol, in November and December. Continuing its strong momentum, Convex also overtook MakerDAO in late December to become the second-ranked project behind Curve.
Footprint Analytics – TVL of Top 5 Projects
The growth of Convex TVL is highly correlated with Curve, as Convex was originally launched to help LPs who offer liquidity on Curve to easily earn trading fees and claim boosted returns without locking CRV. Convex wants to enable LPs to increase returns without losing liquidity.
In this article, we will compare Convex with Curve and Yearn, which it also overtook, to analyze how Convex climbed to second place in DeFi from the perspective of data. Why Yearn? As the leader among yield aggregators, Yearn is often compared to Convex.
Making Curve Accessible for Everyone
Before looking at Convex, it’s necessary to understand Curve, which is currently the top pr
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