$CVXFPIS is tokenized $veFPIS which is a liquid staking derivative on Convex Finance. If a user deposits FPIS into Convex, that FPIS is locked forever on the platform as veFPIS. A tokenized version of veFPIS, cvxFPIS, is returned to the user at a 1:1 rate. cvxFPIS conversion is 1-way. Liquidity pools may exist that allow users to swap cvxFPIS for FPIS tokens.
- cvxFPIS can be staked on Convex to receive fees one would get for staking their veFPIS on Frax, as FPIS.
- Additionally, users staking cvxFPIS may receive the platform native token CVX.
