February Update: FPI Airdrop, Multichain Incentives
Frax Finance: FPI Airdrop
In the previous update, frax.convexfinance.com went live, and allowed for users to convert FXS to cvxFXS in anticipation of the Frax Finance portion of Convex launching.
As announced by Frax Finance, the FPI token airdrop snapshot will be taking place on Feb 21, 2022 at 00:00 UTC. Full details have yet to be released from Frax Finance. Users who’ve locked FXS as cvxFXS will be eligible for the maximum amount of FPI.
Important note: If you have cvxFXS tokens and wish to receive the FPI airdrop, be sure to hold “vanilla” cvxFXS during the snapshot. cvxFXS tokens in liquidity pools or other contracts will not be accounted for. Simply hold cvxFXS in your wallet. You can verify your token balance by looking at your address on etherscan.io directly (under ERC20 tokens, look for cvxFXS). Alternatively, you can connect your wallet to frax.convexfinance.com, and your cvxFXS balance will display in the UI.
After the snapshot, Convex will begin on “Phase 2” as outlined in our prior update. More information will be communicated after the FPI snapshot.
Multi-Chain Boosting and Incentives
Previously, the boosting system for Curve.fi veCRV (and cvxCRV by extension) LP provider rewards only applied to liquidity pools on Ethereum mainnet. This, in tandem, gave Convex Finance the same limitations: boosting as a service, but only for pools on Ethereum.
As side chains or other L1’s gain popularity, it’s becoming evident that the broader ecosystem would benefit from multi-chain boosting opportunity. Curve.fi just went live with their first non-Ethereum pool eligible for boosting.
For the moment, Convex will continue to support only Ethereum mainnet pools. However, multi-chain boosting via Convex is actively in-work and is coming in the near future! Stay tuned for updates.
Telegram Chat Discontinued
A few weeks ago, the Convex Finance Telegram main chat was set to read-only. Any telegram chats claiming to be Convex Finance chat are fake, and should be reported as spam. The only moderated chat is the Official Discord channel here: https://discord.gg/8qqerKEe3h
The Telegram channels for Announcements and Proposals continue; these are also read-only.
As always, follow https://twitter.com/ConvexFinance for the latest updates.