# Understanding CVX1

**`CVX1`** is a tokenized version of staked **`CVX`** (**`stkCVX`**). **`CVX1`** can be minted and redeemed at a 1:1 rate against **`CVX`** at any time.

**`CVX1`** alone doesn't provide any yield, and can't be single-side staked, as its only purpose is to be paired with **`cvgCVX`** in the stablepool. All rewards produced by its underlyings **`stkCVX`** are passed to **`cvgCVX`** single-side stakers.

<figure><img src="/files/uSysKmYX9ZNutsfhBWp9" alt=""><figcaption></figcaption></figure>

This system allows **`cvgCVX`** to keep its floating peg to **`CVX`** and to earn **`stkCVX`** rewards, while all its underlyings **`CVX`** are locked for **`vlCVX`**.

{% hint style="info" %}
You can swap **`cvgCVX`** back to **`CVX`** directly in the Convergence's UI, whitout having to handle **`CVX1`**. The system will swap **`cvgCVX`** for **`CVX1`** and redeem **`CVX`** in a single transaction.
{% endhint %}


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