cvxTKNs staking
Last updated
Last updated
Convergence allows cvxTKNs stakers to benefit from optimized reward distributions.
The following cvxTKNs are currently supported:
cvxCRV;
cvxPRISMA;
cvxFXN.
cvxTKNs stakers on Convergence benefit from underlying veTKNs native rewards and Convex's fees. cvxTKNs stakers also receive CVG rewards on top, according to each cvxTKN gauge weight on Convergence.
The cvxCRV staking pool is constantly rebalanced between governance tokens rewards (CRV & CVX), and crvUSD rewards, to optimize stakers' yield.
To summarize, for each cvxTKN, stakers can claim:
Underlying veTKN native rewards;
A share of Convex’s fees in TKN (i.e. CRV for cvxCRV);
CVG rewards according to gauge weights.
Convergence allows users to deposit native tokens, cvxTKNs or Convex's receipt tokens in its cvxTKNs staking contracts.
For example, it is possible to deposit CRV, convert it to cvxCRV, and stake it in one go, directly on Convergence.
Users who are already staking on Convex don't need to withdraw to redeposit on Convergence, as they can directly deposit their Convex receipt token.
