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TVL $12MAPY 2.55%medium riskUpdated Feb 1, 2025

wBETH/WETH Convex Deposit

Deposit Curve wBETH/WETH LP tokens into Convex for boosted yields on this Binance liquid staking pool.

ProtocolConvex
Networkethereum
SymbolCVXWBETH-WETH
CategoryYield Vaults
Underlying Assets
wBETHWETHETHCRVCVX
Contract Address0xd9e0f1a2b3c4d5e6f7a8b9c0d1e2f3a4b5c6d7e8

What is wBETH/WETH Convex Deposit?

This vault optimizes yields for the Curve wBETH/WETH pool through Convex Finance. wBETH is Binance's wrapped staked ETH, providing liquid access to ETH staking rewards through the world's largest cryptocurrency exchange.

Understanding wBETH

Binance's liquid staking offering:

  1. Exchange Integration: Direct staking through Binance platform
  2. Wrapped Token: wBETH is the wrapped version of BETH (1:1)
  3. Value Accrual: wBETH appreciates against ETH like rETH
  4. Institutional Backing: Binance's infrastructure and custody

wBETH brings Binance's massive user base to Ethereum DeFi.

How wBETH Works

The Binance staking mechanism:

  • Users stake ETH on Binance to receive BETH
  • BETH can be wrapped to wBETH for DeFi
  • Staking rewards accrue to wBETH value
  • Redeemable through Binance platform

How This Vault Works

  1. Provide wBETH and/or WETH to Curve pool
  2. Stake LP tokens in Convex vault
  3. Convex applies veCRV boost
  4. Earn staking appreciation + CRV + CVX
Yield Sources: ETH staking rewards (wBETH appreciation), Curve trading fees, boosted CRV emissions, CVX incentives.

Fee Structure

Convex standard fees:

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

Binance charges fees on staking rewards (check current rates).

wBETH vs Other LSDs

Comparison with alternatives:

  • stETH (Lido): Most decentralized, rebasing
  • rETH (Rocket Pool): Permissionless nodes, value accrual
  • cbETH (Coinbase): US regulated, institutional
  • wBETH (Binance): Largest exchange, global reach

wBETH's advantage is Binance's liquidity and user base.

cvxCRV and Yield Infrastructure

Convex's value proposition:

  • cvxCRV represents aggregated veCRV
  • Small depositors get maximum boost
  • vlCVX governance directs emissions
  • Sustainable protocol economics

Risk Disclosures

Centralization Risk: wBETH depends entirely on Binance. Exchange issues, regulatory actions, or insolvency would impact wBETH. Regulatory Risk: Binance has faced regulatory challenges globally. Actions affecting Binance could impact wBETH availability. Smart Contract Risk: Exposure to Curve, Convex, and Binance wrapped token contracts. Custody Risk: Underlying ETH is custodied by Binance. Users trust Binance's security and solvency. Depeg Risk: wBETH may trade at discount during Binance-related concerns or market stress. Redemption Risk: Withdrawing to ETH requires Binance platform access. Geographic Risk: Binance availability varies by jurisdiction.

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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