Convex Finance, a platform that optimizes yield farming on Curve Finance, has announced the launch of a new liquidity pool for CRV, the native token of Curve. The pool allows users to stake their CRV tokens and earn rewards in both CRV and CVX, the governance token of Convex.
The new pool is designed to provide more liquidity and stability for CRV, which has been suffering from high inflation and low demand. By locking up their CRV tokens in the pool, users can reduce the selling pressure on the market and benefit from the compounding effect of earning both CRV and CVX rewards.
The pool also offers an attractive opportunity for CVX holders, who can boost their voting power and influence on the Convex platform. By staking their CVX tokens in the pool, they can earn more CVX and increase their share of the Convex ecosystem. Additionally, they can also earn CRV rewards, which they can use to stake in other pools or swap for other tokens.
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The new pool is expected to launch on August 5th, 2023, and will have a four-week liquidity mining program with 200,000 CVX allocated as incentives. The rewards will be distributed proportionally to the users’ stake in the pool and will be claimable after the program ends.
To participate in the pool, users need to have CRV or CVX tokens in their wallets. They can then visit the Convex website and connect their wallets to the platform. From there, they can select the CRV pool and deposit their tokens. The platform will automatically mint and stake cvxCRV tokens, which represent the users’ share of the pool. Users can withdraw their tokens at any time, but they will forfeit their rewards if they do so before the program ends.
The new pool is another example of how Convex Finance is innovating and expanding its offerings to attract more users and liquidity to the Curve ecosystem. By providing more incentives and options for CRV and CVX holders, convex aims to create a positive feedback loop that benefits both platforms and their communities.
Xinhuo Technology Holdings Rebrands as Sinohope Technology Holdings Limited
Xinhuo Technology Holdings, a leading provider of cloud computing, artificial intelligence, and big data solutions in China, announced today that it has changed its name to Sinohope Technology Holdings Limited. The name change reflects the company’s vision to expand its global presence and enhance its brand recognition in the international market.
The company was founded in 2010 by Mr. Li Wei, a former engineer at Alibaba, and a team of talented and passionate professionals. The company started as a small start-up that offered cloud-based software development services to local businesses. Over the years, the company grew rapidly and diversified its product portfolio to include cloud infrastructure, cloud platform, cloud security, artificial intelligence, big data analytics, and smart city solutions. The company has served more than 10,000 customers across various industries, such as e-commerce, finance, education, healthcare, and government. The company has also established strategic partnerships with leading technology companies, such as Microsoft, Huawei, Tencent, and Baidu.
The company’s CEO, Mr. Li Wei, said in a press release: “We are proud of our achievements as Xinhuo Technology Holdings, but we believe that Sinohope Technology Holdings Limited better represents our core values and aspirations. Sinohope is a combination of ‘Sino’, which means China, and ‘hope’, which signifies our optimism and confidence in the future. We hope to bring more value to our customers, partners, shareholders, and society with our innovative and reliable technology solutions.”
The name change will not affect the company’s operations, products, services, or contracts. The company will continue to operate under its current legal entity name, Xinhuo Technology Holdings Co., Ltd., until the completion of the necessary registration procedures. The company’s stock code on the Shenzhen Stock Exchange will remain unchanged as 300725.
The company also unveiled a new logo and website as part of its rebranding strategy. The new logo features a stylized letter ‘S’ in blue and green, symbolizing the company’s focus on sustainability and social responsibility. The new website provides more information about the company’s vision, mission, values, products, and services.
Mr. Li Wei added: “We are excited to embark on this new chapter of our journey as Sinohope Technology Holdings Limited. We will continue to leverage our strengths in cloud computing, artificial intelligence, and big data to deliver cutting-edge solutions that empower our customers and create positive impact for the world.”