Staking Frax LP Tokens
Staking LP tokens for use with Frax/Convex
Instructions for Frax LPs only, using the Frax portion of the website, frax.convexfinance.com
1. Navigate to the "Stake" tab. Ensure you are on the Frax portion of the website.
2. Choose the LP token from the list you wish to stake on Convex.
3. If it is your first time staking a particular LP token on Convex, you will be prompted to create a personal vault. Click the "Create personal vault..." button, and the transaction should appear in your wallet.
4. After the personal vault is created, users can enter how many LP tokens they wish to stake and enter it into the field shown. Additionally, the user can select any time-lock duration using the slider.
Frax LPs are subject to time-locks; all pools require a minimum of 1 day locked. Most pools allow locks up to 3 years. Users can receive additional FXS earnings boost based on their lock duration as outlined in Frax documentation. Convex veFXS socialized boosting is not affected by the time-lock duration the users selects.
5. Press the "Approve" button, and the transaction should appear in your wallet. After confirmation, press the "Stake" button, and the transaction should appear in your wallet.
6. After confirmation, individual locks will show as separate entries. Additional LP tokens may be added to existing locks using the "Add liquidity" button.
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