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Introduction: Understanding the Convex Flywheel
Through the latter half of 2021, Curve and Convex were...How Convex Creates Value
At the time of our last report, Convex’s value accrual was largely realized...Convex’s control over them....the Convex platform....we can estimate Convex’s emissions.
Report
17 Min
AMM
Feb 2022
There are trillions of dollars of TAM on the line with financial services – asset management, asset issuance...Today’s financial markets are plagued with structural inefficiencies: high settlement times, fragmentation...The hunger for efficiency, transparency, and global access to financialized assets has never been higher...
Report
30 Min
Infrastructure
Apr 2025
Financial Markets Are Always Evolving
Markets have continually changed throughout history....Financial markets have always had risks of sudden sell-offs....within financial markets....Martin Wolf said it best in the Financial Times, “Beware the liquidity delusion....reality is financial markets and the real economy have become increasingly interdependent.
Report
24 Min
Financial Market Themes
Sep 2022
Despite Yearn having approximately an 8 month head start, Convex’s veCRV holdings quickly surpassed it...Convex and Yearn hold ~20% and ~9%, respectively, of the total veCRV supply....Convex’s impressive growth can be attributed to its economics....APY organically higher than Convex....The emergence of Convex on the scene has clearly accelerated this development.
Report
4 Min
Vaults
Jun 2021
Convex Finance is a Curve-focused yield optimization platform that boosts yields for liquidity providers...Specifically, that all CRV deposited into Convex is locked up forever....What does Convex’s value accrual look like?
...As mentioned previously, Convex is earning ~73% of CRV emissions.
Report
9 Min
AMM
Aug 2021
Convex Dominated Curve’s TVL
Recently, the “Curve Wars” have been a hot topic....To dive deeper, check out our latest Convex report....Convex Has the Most Influence Over Curve’s Liquidity Incentives
Convex is now the single largest owner...Now that Convex dominates Curve’s voting power, protocols have focused their bribing efforts on Convex...
Report
5 Min
Vaults
Jan 2022
Convex Accumulating FXS
Since Convex launched its cvxFXS platform, deposits of FXS have grown to over...It has been publicly announced that users depositing FXS into Convex will be eligible for Frax Finance...
Report
3 Min
NFTs
Jan 2022
Convex takes 17% of the LP yields as fees....As a result, Convex has grown considerably, with 90% of Curve’s TVL deposited in Convex....As with how Convex controls Curve, whoever controls Convex can significantly influence Curve emissions...Boosting CRV Incentives Through Convex
As Convex’s emissions have significantly scaled down, depositors...
Report
10 Min
Vaults
Feb 2023
Convex Finance Owns Largest Piece of CRV Pie
Convex Finance continues to dominate the Curve wars as...The political power of being a CRV “whale” is extremely valuable, as it allows for Convex to boost Curve...rewards for Convex’s depositors instead of having individual depositors lock up their own CRV to boost...
Report
3 Min
Vaults
Nov 2021
Chart of The Day: Convex Now Owns 10% of Circulating Frax
Frax is the first fractional algorithmic...Convex has been the key leader in acquiring veCRV voting power to boost its users’ Curve yield without...Convex implemented cvxFXS in December 2021 and has accumulated around 10% of FXS’s circulating market...You can check it out on the Frax Convex page!
Report
6 Min
Derivatives
Feb 2022
Asset impairment is how liquidity problems turn into solvency crises. The amount of debt (both private and public) that needs to be rolled over the next couple years will create real strains if rates...
Alpha Insight
1 Min
Macro & Markets
Mar 2023
Uh, so basically process financial data, optimize financial data, and basically make decent, uh, good...financial decisions that would make you money....execution in, in, in financial markets....So they, they analyze the financial markets....getting access to global financial markets.
Media
61 Min
DeFi
Dec 2024
If you’re looking for a brief overview of prior financial crisis – plus government responses and their...
Alpha Insight
1 Min
Macro & Markets
Apr 2023
, 2011 or 2012, that Black Friday or whatever, when the US Justice Department basically cut off the financial...Effectively that’s closed source software that is not money or financial in nature, right?...Then particularly for crypto, it’s financial....Then also financially, what backings are there, right?
Media
1 Min
Spot Exchange
Sep 2021
There’s many different types of users in them, perhaps more than normal with financial products....This is true for every Web2 company and for every financial institution....Host and GP of Delphi Ventures Tom Shaughnessy sits down with Tarun Chitra, Founder of Gauntlet, a financial...
Media
Asset Management
Dec 2021
Topics Covered:
00:08 – Intro with Nick.
02:27 – Convex Financial with Duncan.
15:52 – Lido Liquid...Convex Financial with Duncan:
2. Lido Liquid Staking with Paul:
3.
Report
1 Min
DeFi
Aug 2021
Opyn Squeeth (oSQTH) is a new financial primitive that tracks the price of ETH squared....Long Squeeth provides exposure to pure convexity, offering an asymmetric payoff with a higher upside...ecosystem by helping Convex farmers earn up to 50% more with less hassle and less gas fees....still maintaining exposure to the Curve/Convex ecosystem.
Report
7 Min
Structured Products
Jul 2022
...at any time, with near-instant settlement and none of the usual friction associated with the current financial...As we wrote about in our report on Convex, Convex controls roughly half of all Curve governance allowing...In April 2021, Convex pioneered this bribing game with a 1% airdrop in exchange for support from veCRV...
Report
5 Min
AMM
Feb 2022
Chart of The Day: Terra Leads CVX Accumulation
Convex is a yield optimization platform that allows...The 4pool will drive up demand for both UST and Frax, and might also end the Curve/Convex wars as smaller...To learn more about Convex, read our Delphi Pro report here.
Where’d The Liquidity Go?
Report
6 Min
AMM
Apr 2022
As we wrote about in our report on Convex, Convex controls roughly half of all Curve governance allowing...Curve + Convex Symbiosis: Curve and Convex have a symbiotic relationship that’s has launched Curve to...Analyst Notes: Below are some analyst quotes regarding Curve, Convex, and stablecoins:
“Convex’s tokenomics...
Report
40 Min
DeFi
Jan 2022

















