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TVL $19MAPY 2.85%medium riskUpdated Feb 1, 2025

rETH/WETH Convex Deposit

Deposit Curve rETH/WETH LP tokens into Convex for boosted yields on this Rocket Pool liquid staking pool.

ProtocolConvex
Networkethereum
SymbolCVXRETH-WETH
CategoryYield Vaults
Underlying Assets
rETHWETHETHCRVCVX
Contract Address0xa0b1c2d3e4f5a6b7c8d9e0f1a2b3c4d5e6f7a8b9

What is rETH/WETH Convex Deposit?

This vault optimizes yields for the Curve rETH/WETH pool through Convex Finance. rETH is Rocket Pool's liquid staking token, representing one of the most decentralized ETH staking options available. The pool pairs rETH with native WETH for efficient swaps.

Understanding rETH and Rocket Pool

Rocket Pool pioneered decentralized ETH staking:

  1. Permissionless Node Operation: Anyone with 8 ETH can run a node
  2. Decentralized Validator Set: Thousands of independent operators
  3. rETH Token: Liquid representation of staked ETH
  4. Value Accrual: rETH appreciates against ETH as staking rewards accrue

rETH is considered one of the safest LSDs due to Rocket Pool's decentralization and long track record.

How rETH Works

Unlike rebasing tokens (stETH), rETH uses a value-accrual model:

  • 1 rETH always represents more than 1 ETH (after staking begins)
  • The rETH/ETH ratio increases as rewards are earned
  • No rebasing means simpler DeFi integration
  • Exchange rate is oracle-reported based on protocol TVL

How This Vault Works

  1. Provide rETH and/or WETH to Curve pool
  2. Deposit LP tokens into Convex vault
  3. Convex stakes in gauges with veCRV boost
  4. Earn rETH appreciation + CRV + CVX
Yield Sources: ETH staking rewards (via rETH appreciation), Curve trading fees, boosted CRV emissions, and CVX.

Fee Structure

Convex standard fees:

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

Rocket Pool charges commission on staking rewards (shared between protocol and node operators).

rETH in LP Contexts

When rETH is in an LP position:

  • rETH continues appreciating against ETH
  • Pool ratio shifts as rETH value increases
  • Creates predictable "impermanent gain" dynamics
  • LPs benefit from underlying staking yield

cvxCRV and Boosted Yields

The Convex boost mechanism:

  • Convex holds massive veCRV position
  • All LP depositors share this boost equally
  • Small depositors get max boost without locking CRV
  • cvxCRV stakers fund this infrastructure

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, and Rocket Pool contracts. All are extensively audited with long track records. Rocket Pool Validator Risk: While decentralized, individual node operators can be slashed. Risk is socialized across protocol. Oracle Risk: rETH price relies on oracles reporting the exchange rate. Oracle manipulation could affect pool operations. Depeg Risk: rETH may trade at discount during high redemption demand or market stress. Protocol Upgrade Risk: Rocket Pool governance can modify staking parameters. Ethereum Risk: All ETH-denominated assets lose USD value when ETH price drops.

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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