Protocols currently integrated in Smart Savings include mStable, Yearn and Convex and this article will provide an introduction to Convex.
Convex protocol operates on top of Curve decentralized exchange, and provides additional yield in form of CRV and CVX rewards.
Users are able to earn interest using Convex protocol on DFS by depositing DAI, USDC, USDT, mUSD and/or ETH (or LP tokens) into their respective Convex pools. Claiming of additional rewards (CRV and/or CVX tokens) needs to be done manually.
Withdrawals are available in all supported assets for the specific pool (you are not obligated to withdraw the assets you've initially deposited).
All integrated Convex pools on Smart Savings dashboard are the ones consisting of assets correlated in price, making the risk of impermanent loss minimal.
Convex collects a 17% performance fee that goes back to Convex deposits (see full tokenomics here).