ConvexFinance
Search…
⌃K

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 / FXS LP Staking

  • cvxFXS can be staked into the cvxFXS / FXS Liquidity pool on Curve and then staked on Convex to receive fees one would get for staking their veFXS on Frax, as FXS.
    • LP stakers are subject to risk in price shifts in either cvxFXS or FXS.
  • Additionally, users staking cvxFXS will receive FXS from Convex's performance fee, as well as the platform native token CVX for CRV earned by the pool (until CVX emissions end).