Convex for Frax Finance

Information regarding the FRAX Finance portion of Convex

Convex Finance originally started out with the goal of optimizing and expanding opportunities for users of Curve.fi. Going forward, expansion into other protocols will allow further growth and opportunities for the protocol and CVX holders.

Frax Finance has adopted a similar token-locking model for it's governance token, FXS. Convex Finance has expanded to optimize opportunities for liquidity providers on Frax the same way it has done so for Curve.fi LPs.

Convex used to support Frax Finance's FPIS token, the governance token for the FPI stablecoin launched by Frax. Frax documentation explains the mechanisms behind the FPI stablecoin and the FPIS governance token in more detail. However, Frax has voted to merge FXS with FPIS governance tokens, and Convex has since sunsetted cvxFPIS and will be converting its FPIS to veFXS. Convex Finance will support the migration of both FPIS and cvxFPIS to cvxFXS at a 3 to 1 ratio. See more details about this in the FPIS to FXS Migration section.