Voting and Governance

FX Protocol governance proposals through veFXN are available for vlCVX holders to vote on. Voting will take place on Snapshot. Governance proposals are weighted respectively by their vlCVX vote outcome. Thus if 60% of vlCVX votes for YES and 40% for NO, Convex will submit a vote for 60% YES and 40% NO.

For gauge-weight votes, Convex may allocate up to 20% the protocol’s veFXN for strategic reasons such as optimizing liquidity or FXN rewards for vlCVX holders.

Only up to 20% of Convex allocation may be used on a FXN wrapped asset such as cvxFxn. Any amount over this will be distributed proportionally to other pools.

The remaining veFXN weight will be distributed proportionally according to the bi-weekly vlCVX votes.