Convergence
  • Welcome to Convergence
  • General Information
    • Protocol Overview
  • Staking
    • Convergence for Stake DAO
      • cvgSDT staking
      • sdTKNs staking
      • LPs staking
        • Curve LPs staking
      • Understanding cvgSDT
      • veSDT boost delegation
      • Metagovernance
        • Governance votes
        • Gauge votes
    • Convergence for Convex Finance
      • cvgCVX staking
      • cvxTKNs staking
      • Understanding cvgCVX
      • Understanding CVX1
      • Metagovernance
        • Governance votes
        • Gauge votes
    • Tokenized positions
  • CVG TOKEN
    • Understanding CVG
    • Tokenomics
    • CVG Locking
      • Understanding veCVG
      • Understanding mgCVG
      • Understanding ysCVG
  • GAUGES FUNCTIONING
    • Understanding Gauges
    • Gauges Votes
  • BONDS & TREASURY
    • Bonds
      • Understanding Bonds
      • Oracles and ROI computation
        • Targeted pools
      • Tokenized bonds
    • Treasury
      • Protocol Owned Deployments
      • Protocol Due Deployments
  • Cycles
    • Understanding Cycles
      • cvgCycles
      • tdeCycles
  • Rewards
    • Stake DAO rewards
    • Convex Finance rewards
    • CVG rewards
    • Treasury rewards
  • Navigate UI
    • Staking
      • Stake DAO
        • Staking cvgSDT
          • Use SDT
          • Use cvgSDT
        • Staking sdTKNs
        • Staking LPs
      • Convex Finance
        • Staking cvgCVX
        • Staking cvxTKNs
    • Using bonds
      • Buy a bond
      • Redeem CVG
      • Bond & Lock
    • Claming rewards
      • Claim all rewards
      • Claim by position
    • Lock CVG
      • Create a locked position
      • Increase a locked position
        • Increase amount only
        • Increase time only
        • Increase amount & time
      • Delegate a locked position
        • Delegate veCVG
        • Delegate mgCVG
        • Delegate ysCVG
      • Manage delegations
        • Accept a delegation
        • Remove a delegation
        • Revoke a delegation
    • Vote on gauges
      • Display votes
      • Remove votes
  • FAQ
    • Contract Addresses
    • Treasury Addresses
    • Audits
    • Risks
    • Fees
    • Branding
  • LINKS
    • Website
    • Github
    • Discord
    • Twitter
    • Coingecko/Coinmarketcap
Powered by GitBook
On this page
  1. Staking

Tokenized positions

Since Convergence’s rewards distribution is cycle-based (rewards for cycle N+1 are distributed at the beginning of ctycle N+2), staking positions are not fungibles.

Thus, instead of issuing Interest Bearing tokens to represent staking positions, Convergence issues Interest Bearing NFTs. These NFTs can be traded on the open market or sent to other wallets. A user may iterate on an existing staking position, or create a new one at any time. When a new position is created, a new NFT is minted to represent this position.

Each NFT has a “lock” function that forbids its owner to either withdraw funds or claim rewards during a given duration. This function has been implemented so NFT buyers can’t be frontrunned and receive an empty NFT.

PreviousGauge votesNextUnderstanding CVG

Last updated 10 months ago