Convex ETH+/ETH Vault - Reserve Protocol ETH Yield

What is ETH+/ETH Convex Deposit?

This vault optimizes yields for the Curve ETH+/ETH pool through Convex Finance. ETH+ is an ETH-denominated stablecoin from Reserve Protocol, designed to provide diversified ETH exposure with additional yield.

How This Vault Works

Provide ETH+ and/or ETH to the Curve pool
Stake LP tokens in this Convex vault
Convex applies boosted CRV rewards
Earn ETH+ yield plus CRV and CVX

Yield Sources: ETH+ underlying yield, Curve swap fees, boosted CRV emissions, CVX rewards.

Understanding ETH+

ETH+ is a Reserve Protocol RToken (reserve token):

Backed by a basket of ETH-denominated assets
May include wstETH, rETH, and other ETH LSDs
Diversifies liquid staking risk
Automatically rebalances between components
Governed by RSR stakers

Reserve Protocol Mechanics

Reserve Protocol allows creation of asset-backed currencies:

RTokens backed by configurable baskets
Overcollateralized with RSR insurance
Automatic rebalancing
Governance-controlled composition

Fee Structure

Standard Convex fees:

16% of CRV rewards
No deposit/withdrawal fees

ETH+ may have its own fee structure for basket management.

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, Reserve Protocol, and all ETH+ basket component contracts. Basket Risk: ETH+ value depends on all underlying basket assets. Issues with any component affect ETH+. LSD Risk: If ETH+ contains liquid staking tokens, validator slashing could affect value. Reserve Protocol Risk: Newer protocol with complex mechanics. Less battle-tested than simple LSDs. Governance Risk: ETH+ composition can be changed by RSR stakers. Correlation Risk: All basket components are ETH-denominated. ETH price drops affect total value. Complexity Risk: Multiple layers of abstraction make risk assessment challenging.

ETH+/ETH Convex Deposit