1. SipPop GamesHome
  2. Tech Ticker

Arbitrum Liquidity Pools to be Migrated on Convex Finance

• Tech Ticker • 123 views

According to the official announcement, all Arbitrum liquidity pools on the CRV Pledge and Liquidity Mining one-stop platform Convex Finance will be migrated wi

Arbitrum Liquidity Pools to be Migrated on Convex Finance

According to the official announcement, all Arbitrum liquidity pools on the CRV Pledge and Liquidity Mining one-stop platform Convex Finance will be migrated within the next 24-48 hours. Once a new contract is deployed, there will be a follow-up announcement. Existing liquidity providers will need to use new contracts to cancel and re mortgage.

Convex will migrate all Arbitrum liquidity pools, and LP needs to cancel and re mortgage using a new contract

Analysis based on this information:


The announcement that all Arbitrum liquidity pools on the CRV Pledge and Liquidity Mining platform Convex Finance will be migrated within the next 24-48 hours has caught the attention of investors and traders alike. The move is aimed at enhancing efficiency and reducing risks on the platform.

Arbitrum is a Layer 2 scaling solution for Ethereum that aims to provide fast and cheap transactions while maintaining the security and decentralization of the main Ethereum network. Meanwhile, Convex Finance is a platform that enables liquidity providers to earn rewards through yield farming and staking. The platform supports various liquidity pools, including those of Curve Finance, a decentralized exchange for stablecoins.

The migration of Arbitrum liquidity pools on Convex Finance means that all existing liquidity providers will need to cancel their current positions and remortgage their funds using new contracts. While this may seem like a hassle, it is a necessary step to ensure that the platform runs smoothly and securely.

The migration will ultimately benefit investors and traders as it will improve the efficiency of the platform, reduce the frequency of errors and bugs, and enhance the user experience. Moreover, the move will reduce the risk of smart contract vulnerabilities and other security issues that could result in the loss of funds.

In conclusion, the migration of Arbitrum liquidity pools on Convex Finance may seem like a hassle to existing liquidity providers, but it is a necessary step to ensure the efficiency and security of the platform. Investors and traders should stay tuned for the follow-up announcement on the deployment of the new contracts. This move aligns with the industry’s continued efforts to improve scalability, security, and efficiency in the ever-evolving decentralized finance (DeFi) space.

This article and pictures are from the Internet and do not represent SipPop's position. If you infringe, please contact us to delete:https://www.sippop.com/5058.htm

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/19/2023 01:37
Next 03/19/2023 02:01

Related recommendations