Sushi Rewards + What’s new

Convex Finance
2 min readMay 28, 2021
Delicious Sushi!

First, the bad news…

Since launch, cvxCRV / CRV and CVX / ETH LPs have been receiving double CVX rewards during a two-week bonus period. This period is set to end soon.

At block 12541245, CVX rewards for cvxCRV / CRV and CVX / ETH Sushiswap pools will be cut in half.

OK, now the good news!

Sushiswap has agreed to give our LPs sushi rewards! Within the coming days, our Sushiswap LPs will be eligible for these new incentives. To accommodate this, we will also be creating a new reward contract to fit on top of these sushi rewards. Once live, cvxCRV/CRV and CVX/ETH LP’s will earn SUSHI rewards on top of their regular CVX rewards.

What do I need to do?

As of today, no action is needed. The new reward contract is not yet live. We will announce when it goes live shortly.

If you are currently providing liquidity for cvxCRV/CRV or CVX/ETH on Sushiswap, you will need to migrate your LP tokens from Convex Finance’s staking contract to Sushiswap’s contract. This will all be available on our website when the pools go live.

Once everything is ready to go, migrating your SLP tokens is easy:

  1. Un-stake your LP tokens from the current Convex Finance pool here.
  2. Re-stake your tokens on the Sushi pool on the same page.

New Curve Pools Available

The following Curve pools are now available on Convex Finance! Find them in the list with the other pools here.

  • reth (eth+reth)
  • alusd (alusd+3pool)

Additional Updates

A few key points since launch!

  • Over 12 million CRV have been locked on our platform.
  • Over $600 million in platform TVL.
  • Our Telegram and Discord channels have ballooned, with lots of productive discussion and great suggestions for platform/UI improvements.

The Convex Finance team has been floored by the amount of early growth the platform has experienced. We wanted to thank the community for their enthusiasm and continued support! Feel free to reach out to the team on Telegram or Discord with questions, suggestions, or just to join the discussion!