Convex Finance Bug Causes CVX Token to Sink on Forced Token Unlock

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NEW: A smart contract bug on ConvexFinance forced an unlock of millions of $CVX tokens, temporarily dragging down prices by as much as 20%. Blockanalia reports

Convex users are battling through excess liquidity.

In a Twitter post Friday, the Convex Finance team wrote that it had redeployed the contracts responsible for the vote-locking governance mechanism after the discovery of a bug that would have granted certain users disproportionate rewards.

 

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