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TVL $40MAPY 1.27%medium riskUpdated Feb 1, 2025

Curve.fi Factory Pool: stETH-ng Convex Deposit

Deposit Curve stETH-ng LP tokens into Convex for boosted yields on this Lido staked ETH and ETH liquidity pool.

ProtocolConvex
Networkethereum
SymbolCVXSTETH-NG-F
CategoryYield Vaults
Underlying Assets
stETHETHCRVCVX
Contract Address0x1b74fa5951dfa4c03d0127011548fa79b956f63b

What is stETH-ng Convex Deposit?

This vault optimizes yields for the Curve stETH-ng (next generation) pool through Convex Finance. The pool facilitates efficient swaps between stETH (Lido staked ETH) and ETH, and LPs continue earning Lido staking rewards while providing liquidity.

How This Vault Works

  1. Provide stETH and/or ETH liquidity to Curve's stETH-ng pool
  2. Deposit LP tokens into this Convex vault
  3. Earn boosted CRV emissions via Convex's veCRV power
  4. Receive CVX token rewards on top of CRV
Yield Sources: Curve trading fees, Lido staking rewards (stETH rebases), CRV emissions (boosted), and CVX incentives.

Understanding stETH-ng Pool

The "ng" (next generation) designation indicates Curve's updated pool design with:

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

stETH in this pool continues earning Lido staking rewards (~3-4% APY), which pass through to LP token holders.

Underlying Assets

stETH: Lido's liquid staking token representing staked ETH. It rebases daily to reflect staking rewards. ETH: Native Ethereum Reward Tokens: CRV, CVX

Fee Structure

Convex standard fees:

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

Curve pool also charges a small swap fee (typically 0.04%) that goes to LPs.

Yield Composition

Total APY combines:

  1. ETH staking yield (~3-4%) via stETH
  2. Curve swap fees
  3. Boosted CRV emissions
  4. CVX token rewards

Risk Disclosures

Smart Contract Risk: Exposure to Curve, Convex, and Lido contracts. All are extensively audited but complex. Lido Validator Risk: stETH value depends on Lido's validator operations. Slashing events could reduce stETH value relative to ETH. Depeg Risk: stETH occasionally trades at a discount to ETH during market stress. LPs face impermanent loss if this occurs. Ethereum Risk: Both assets are ETH-denominated. If ETH price falls, your position loses value in USD terms. Withdrawal Queue Risk: Converting stETH to ETH through Lido may have delays during high-demand periods. Oracle Risk: The ng pool uses enhanced oracles, but oracle issues could still affect pool operations.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYDOLA/wstUSR Convex Deposit4.98% 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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