Understanding cvxPRISMA
Information regarding the cvxPRISMA and how to use it in Convex Finance
- If a user deposits PRISMA into Convex, that PRISMA is locked forever on the platform as vePRISMA.
- A tokenized version of vePRISMA,, cvxPRISMA, is returned to the user at a 1:1 rate.
- cvxPRISMA conversion is unidirectional. Liquidity pools may exist that allow users to swap cvxPRISMA for PRISMA tokens.
- cvxPRISMA can be staked on Convex to receive a portion of fees one would get for staking their vePRISMA on Prisma Finance, as PRISMA.
Additionally, users staking cvxPRISMA may receive the platform native token CVX.
Last modified 23d ago