cvxFPIS is the tokenized version of veFPIS. If users deposit FPIS into Convex, that FPIS will be locked perpetually within the platform as veFPIS. Users receive tokenized veFPIS – cvxFPIS – in a 1:1 ratio. The cvxFPIS conversion is unidirectional. Liquidity pools may exist allowing users to trade cvxFPIS and FPIS tokens.
cvxFPIS can be staked on Convex to receive fees earned by staking veFPIS on Frax, in the form of FPIS. Additionally, users who stake cvxFPIS may receive the platform’s native token, CVX.
