ConvexFinance
  • Welcome to Convex Finance
  • General Information
    • Convex for Curve.fi
      • Convex for CRV Stakers
      • Convex for Curve Liquidity Providers
      • Understanding cvxCRV
      • Voting and Gauge Weights
    • Convex for Frax Finance
      • Understanding cvxFXS
      • Understanding cvxFPIS
      • FPIS to FXS Migration
      • Convex for Frax Liquidity Providers
      • Voting and Gauge Weights
    • Convex for Prisma Finance
      • Understanding cvxPRISMA
      • Convex for PRISMA Boosts
      • Emission Votes and Gauge Weights
    • Convex for FX Protocol
      • Understanding cvxFXN
      • Voting and Governance
    • Tokenomics
    • Understanding CVX
      • Vote Locking
      • Vote Delegation
  • How-To Guides
    • Using Convex Finance
      • Staking Curve LP Tokens
      • Converting CRV + staking cvxCRV
      • Staking Frax LP Tokens
      • Staking CVX
      • Vote Locking CVX
    • Claiming Rewards
    • Claiming your Airdrop
  • FAQ
    • Platform Rewards: Current vs Projected APR
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  • cvxFXS is tokenized veFXS
  • cvxFXS Staking

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  1. General Information
  2. Convex for Frax Finance

Understanding cvxFXS

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Last updated 10 months ago

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cvxFXS is tokenized veFXS

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

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

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

cvxFXS Staking

  • cvxFXS can be staked on Convex to receive fees one would get for staking their veFXS on Frax, as FXS.

  • Additionally, users staking cvxFXS may receive FXS from Convex staking fees as well as the platform native token CVX.