Understanding cvgCVX
Last updated
Last updated
CVX can be locked on Convex up to 16 weeks, in order to earn voting right over Convex's underlying protocols. Learn more on the Convex documentation.
cvgCVX is a liquid tokenized version of locked CVX. Each CVX deposited on Convergence is locked forever on the Convex vote locking contract. cvgCVX is minted at a 1:1 rate each time a user deposits CVX.
Converting CVX to cvgCVX is irreversible. However, a cvgCVX/CVX1 pool exists on Curve. This pool is, and will be maintained by Convergence.
Staking cvgCVX allows users to claim vlCVX vote incentives and additional rewards, plus CVG rewards.
cvgCVX can be swapped back to CVX in one transaction, directly on Convergence.