How CVX and Solid Crypto Revolutionize the DeFi Industry?

The DeFi market witnesses innovations on a daily basis. Having said that, we do see aggregator & futuristic yield farming protocol, indexer protocols, flash loans inundate the market. You name the use-cases out of your varied fantasies and DeFi would deliver, that’s DeFi for you. Two of such solutions which have created euphoria in the market are Curve Finance and Solid Protocol. We shall separately look at both of them and analyze their vision to build the next-gen DeFi in 2022.

What is Solid Protocol? 

The dynamic DeFi market intimidates investors to anticipate the next moonshot moment. The question to ask nonetheless is how to make that happen? Solid Protocol, the answer. Investors can hold the native Solid tokens to get true DeFi exposure. Hence allowing them to hedge positions against multiple asset baskets to keep their portfolio profitable by anticipating moonshot moments. Fascinating, isn’t it?

What is the Convex Protocol? 

The Convex protocol has raged a war for liquidity in the DeFi space. On the Convex Protocol, users can lock in their CRV tokens to get additional yields. The yields will be given in the form of CVX or Convex Finance’s native token. Since Curve Finance is the latest DeFi DEX, opportunities are in abundance for the users to stake their CRV for CVX. In this way, Curve Finance does provide an opportunity for the Curve Finance users to enjoy boosted curve staking where they can likely earn unparalleled ROIs from both protocols. 

Now let’s look at the vision of these protocols to analyze their contribution to DeFi’s growth in the near future.

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Why are these protocols visionary? 

Solid 

Solid has been a visionary owing to the very high degree of exposure it can provide to new entrants who have little or no idea about the DeFi market. Through the Solid Token, newbies can explore investment opportunities and work towards building a more deep blockchain and DeFi adoption moving forward. 

Convex 

Convex Finance wants to introduce capital efficiency. Capital efficiency leads to improved CRV liquidity and fee earning in CVX tokens for traders through staking. In this way, the right balance will come to the DeFi world for yield farmers and stakers through the use of the CRV tokens. 

If you are using DeFi for the first time, always make it a point to use a hardware wallet since they are safe and convenient for long-term usage.