Understanding cvxFPIS

cvxFPIS is tokenized veFPIS

  • If a user deposits FPIS into Convex, that FPIS is locked forever on the platform as veFPIS.

  • A tokenized version of veFPIS, cvxFPIS, is returned to the user at a 1:1 rate.

  • cvxFPIS conversion is 1-way. Liquidity pools may exist that allow users to swap cvxFPIS for FPIS tokens.

cvxFPIS Staking

  • cvxFPIS can be staked on Convex to receive fees one would get for staking their veFPIS on Frax, as FPIS.

  • Additionally, users staking cvxFPIS may receive the platform native token CVX.

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