
The cryptocurrency Convex Finance ($CVX) is experiencing a significant demand surge, with only 100 million tokens available. This scarcity is driven by protocols purchasing $CVX in large quantities to secure the cheapest liquidity on Curve Finance, a decentralized exchange. A unique aspect of this demand is the strategy of never selling the tokens once bought, further tightening the supply. Additionally, a new mechanism where 30% of Ethereum deposited into a Liquidity Staking Derivative (LSD) vault will be used to buy $CVX, adding to the buying pressure. This mechanism, highlighted by a collaboration with CVX5's team and asymmetry finance, indicates that for every 100 million in total value locked (TVL), $30 million worth of $CVX will be bought, with a backing of $vlCVX per ETH. The urgency for DAOs and stablecoin projects to acquire $CVX is emphasized, with predictions of rising prices due to these dynamics. Notably, the first Sommelier vault on Arbitrum amassed over $2 million in TVL in just 3 days.

Here's my Why $CVX? Exposure to... 3 decentralized stablecoin governance.. soon 4 with $fxUSD $crvUSD $Frax V3 $Fpis Fraxtal Prisma's $mkUSD $CRV 318m locked $FXS 7m locked $Prisma 14m locked $FXN 47k locked Stablecoin wars Lsd & Lrt wars with @fraxfinance, @PrismaFi and…
Here's my Why $CVX? Exposure to... 3 decentralized stablecoin governance.. soon 4 with $fxUSD $crvUSD $Frax V3 $Fpis Fraxtal Prisma's $mkUSD $CRV 318m locked $FXS 7m locked $Prisma 14m locked Stablecoin wars Lsd & Lrt wars with @fraxfinance, @PrismaFi and @protocol_fx Renevue…
1/2 The first Sommelier vault on @arbitrum has already amassed over $2 million in TVL in just 3 days! The vault, Real Yield ETH, does dynamic leveraged staking and liquidity provision of ETH LSTs. Deposit at https://t.co/AxYSYAS8AX https://t.co/K6E84Di8Uw