Convex is a protocol developed on top of Curve Finance that allows Curve Finance's liquidity providers to earn boosted rewards without locking their CRV tokens. The protocol was launched in April 2019.
Users can either stake CRV, Curve Finance's native token, or stake Curve LP (liquidity providers) tokens on Convex. Staking CRV allows stakers to earn boosted rewards in form of cvxCRV tokens on top of their positions on Curve. Staking Curve LP tokens allow liquidity providers to earn trading fees and claim boosted CRV without locking CRV themselves.
Convex charges a total fee of 17% on all CRV revenue generated by Curve liquidity providers. Convex's governance token is CVX, first issued in May 2021 with a total supply of 100M.