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Voting and Gauge Weights
vlCVX holders will collect 7% of all FXS emissions from pools staked on Convex, paid out as cvxFXS.
Frax governance proposals are available for vlCVX holders to vote on. Voting will take place on Snapshot.
For now, Convex will allocate the protocol’s veFXS to optimize liquidity and FXS rewards for vlCVX holders and LPs during gauge-weight votes. Rationale:
  • Supported LP’s are relatively small; the hope is that the addition of Convex staking will attract more liquidity to Frax pools
  • There are currently only 3 supported LPs
  • There is currently no incentive market for voting on gauges with Frax pools
Eventually, Convex vlCVX holders can participate in gauge-weight votes for Frax Finance pools. A full explanation of the Frax staking and gauge system can be found in their documentation.
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