# Understanding cvxCRV ![](/files/-MZQ41SW4DZoWb_o8-oI) ### 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. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.convexfinance.com/convexfinance/general-information/why-convex/understanding-cvxcrv.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.