> For the complete documentation index, see [llms.txt](https://docs.convexfinance.com/convexfinance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.convexfinance.com/convexfinance/general-information/convex-for-frax-finance/understanding-cvxfxs.md).

# Understanding cvxFXS

![](/files/PmOaeUsDqMjnC5JVv3Vr)

### 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**.