Understanding cvxFXS

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.