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
    • Audits
    • 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 10 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.