Understanding cvxFXN

Information regarding the cvxFXN and how to use it in Convex Finance

cvxFXN is tokenized veFXN

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

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

• cvxFXN conversion is unidirectional. Liquidity pools may exist that allow users to swap cvxFXN for FXN tokens.

cvxFXN Staking

• cvxFXN can be staked on Convex to receive the fees one would get for locking their veFXN on Protocol FX.