ConvexFinance
  • Welcome to Convex Finance
  • General Information
    • Convex for Curve.fi
      • Convex for CRV Stakers
      • Convex for Curve Liquidity Providers
      • Understanding cvxCRV
      • Voting and Gauge Weights
    • Convex for Frax Finance
      • Understanding cvxFXS
      • Understanding cvxFPIS
      • FPIS to FXS Migration
      • Convex for Frax Liquidity Providers
      • Voting and Gauge Weights
    • Convex for Prisma Finance
      • Understanding cvxPRISMA
      • Convex for PRISMA Boosts
      • Emission Votes and Gauge Weights
    • Convex for FX Protocol
      • Understanding cvxFXN
      • Voting and Governance
    • Tokenomics
    • Understanding CVX
      • Vote Locking
      • Vote Delegation
  • How-To Guides
    • Using Convex Finance
      • Staking Curve LP Tokens
      • Converting CRV + staking cvxCRV
      • Staking Frax LP Tokens
      • Staking CVX
      • Vote Locking CVX
    • Claiming Rewards
    • Claiming your Airdrop
  • FAQ
    • Platform Rewards: Current vs Projected APR
    • Contract Addresses
    • Fees
    • Risks
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    • Convex Treasury
    • Multisig Admin Rights
    • Airdrops From Other Platforms
    • Bug Bounties
    • Known Issues
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  • cvxCRV is tokenized veCRV
  • cvxCRV Staking

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  1. General Information
  2. Convex for Curve.fi

Understanding cvxCRV

cvxCRV token, and how it fits in the Convex platform

PreviousConvex for Curve Liquidity ProvidersNextVoting and Gauge Weights

Last updated 8 months ago

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cvxCRV is tokenized veCRV

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

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

  • cvxCRV conversion is 1-way. Liquidity pools may exist that allow users to swap cvxCRV for CRV tokens.

cvxCRV Staking

  • cvxCRV can be staked into the platform to receive normal Curve admin fees one would get for staking their veCRV on Curve.fi, as crvUSD.

  • Additionally, users staking cvxCRV may receive CRV from Convex's performance fee, as well as the platform native token CVX.

  • cvxCRV stakers can elect to receive rewards as 100% crvUSD, 100% CRV/CVX, or any ratio in-between in the "Rewards preferences" tab.