> 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-fx-protocol/understanding-cvxfxn.md).

# Understanding cvxFXN

#### 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.