EDIT: mistake in the title, is the 30th of June.

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CVX is a fantastic asset, I will probably prepare a post other than this in which I will explain why I believe that CVX is one of the best alt coins you can accumulate in this bear.

As always, however, timing is important, and I don’t think it’s an excellent coin to accumulate in the coming weeks.

To best use CVX as a protocol it is necessary to lock your tokens for about 4 months, almost 4 months ago there was a bug in the CVX lock smart contract and all users were asked to withdraw their locked tokens ( that were unlocked by devs) and lock them into a new contract.

this contract will release approximately 27 million CVX (27% of the total supply) on 30 June and approximately 8 million CVX (8% of the total supply) on 8 July.

This will create an incredible sell pressure on the CVX token, 35% of the supply unlocked in a few days, in this type of market, it is difficult to think that it can hold the price.

Beyond this there is also a problem, terraformlabs holds about 2.7 million CVX that will almost certainly go to sell, this is because those CVX were purchased for UST’s liquidity, which now no longer exists and therefore no longer have any reason to hold those CVXs.

I think it is a very good trade given these circumstances.

Here are the sources of what has been said:

CVX bug: [ https://finance.yahoo.com/news/convex-finance-bug-causes-cvx-220631197.html](https://finance.yahoo.com/news/convex-finance-bug-causes-cvx-220631197.html)CVX unlock schedule: [ https://dune.com/queries/338296/644252](https://dune.com/queries/338296/644252)

TerraFormLabs address (allegedly) : [ https://debank.com/profile/0xbec5e1ad5422e52821735b59b39dc03810aae682](https://debank.com/profile/0xbec5e1ad5422e52821735b59b39dc03810aae682)

TerraFormLabs holding: [ https://daocvx.com/leaderboard/](https://daocvx.com/leaderboard/)