• The L2 protocol becomes the second sidechain to be integrated with Convex Finance
• The development would allow blockchain interplay as CVX investors shun HODLing

In the last quarter of 2022, Convex Finance [CVX] committed to integrating several sidechains on its network. So, on 9 March, the liquidity provider announced that it had launched on Polygon [MATIC] to further foster the mission. 

How much are 1,10,100 CVXs worth today?

Sidechains are secondary blockchains with their own consensus protocol, allowing the parent blockchain to improve its security and privacy.

Pool in the pool— that’s the way

According to the Medium-channeled statement, the integration would improve liquidity provision on Curve Finance [CRV], and also boost token staking on the protocol.

The disclosure means that Polygon becomes the second sidechain and layer-two (L2) Ethereum [ETH] scaling solution to be involved.

In November 2022, Convex added Arbitrum to the fray. This led the former to create a cross-chain interface so users can interact with its Liquidity Pools (LPs).

Convex confirmed that the case Polygon would be similar to the interaction with Arbitrum. However, information from DeFi Llama Go to Source to See Full Article
Author: Victor Olanrewaju

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