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TVL $10MAPY 0.49%medium riskUpdated Feb 1, 2025

Curve.fi Factory Plain Pool: frxETH/WETH Convex Deposit

Deposit Curve frxETH/WETH-ng LP tokens into Convex for boosted yields on this Frax liquid staking ETH pool.

ProtocolConvex
Networkethereum
SymbolCVXFRXETH-NG-F
CategoryYield Vaults
Underlying Assets
frxETHWETHETHCRVCVX
Contract Address0xaa71e0065a29f2529abc0f615874009287966229

What is frxETH/WETH Convex Deposit?

This vault optimizes yields for the Curve frxETH/WETH-ng (next generation) pool through Convex Finance. The pool enables efficient swaps between Frax's liquid staking ETH (frxETH) and native WETH.

How This Vault Works

  1. Provide frxETH and/or WETH to the Curve ng pool
  2. Stake LP tokens in this Convex vault
  3. Convex applies boosted CRV rewards
  4. Earn trading fees plus CRV and CVX
Yield Sources: Curve swap fees, boosted CRV emissions, CVX rewards.

Understanding frxETH

frxETH (Frax Ether): Frax's liquid staking derivative
  • ETH staked through Frax validators
  • Maintains 1:1 peg to ETH
  • Does not rebase (non-yield-bearing)
  • Yield accrues to sfrxETH holders instead
Note: Holding frxETH in this LP does not earn staking yield. To earn Frax staking yield, hold sfrxETH.

Pool Characteristics

The "ng" (next generation) pool features:

  • Improved oracle handling
  • Enhanced capital efficiency
  • Better security mechanisms
  • Optimized for liquid staking tokens

Fee Structure

Standard Convex fees:

  • 16% of CRV rewards
  • No deposit/withdrawal fees

Yield Consideration

This vault's yield comes only from:

  1. Curve trading fees
  2. CRV gauge emissions (boosted)
  3. CVX token rewards
No staking yield: frxETH in this pool does not earn ETH staking rewards. Compare to sfrxETH pools for staking yield inclusion.

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, and Frax contracts. frxETH Risk: Frax validator operations affect frxETH. Slashing could impact the peg. Opportunity Cost: Holding frxETH instead of sfrxETH means forgoing staking yield. Depeg Risk: frxETH may trade at discount during market stress. Ethereum Correlation: ETH-denominated assets lose USD value when ETH drops. Lower APY: Without underlying staking yield, returns depend heavily on CRV/CVX rewards.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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