Convex Finance · Ethereum

FRXUSD-MSUSD

Overview

The Convex Finance FRXUSD-MSUSD pool on Ethereum is a multi-asset stablecoin position where suppliers earn yield from staking and liquidity provision. The protocol generates returns by optimizing rewards across multiple decentralized finance (DeFi) platforms.

Total APY of 12.86% combines base yields with an additional reward layer, generating a total return that includes both components. Over the past seven days, the APY has declined by 2.84%, while over the last thirty days it has increased by 0.32%. This current rate is below the 30-day mean of 13.85%.

TVL stands at $6.6M with no reported change in the past seven days; primary exposure involves impermanent loss risk due to the multi-asset nature of the pool. The stablecoin mix in this pool mitigates some volatility but still exposes suppliers to potential depegging risks associated with individual assets.

Composed 2026-05-20 from the structured data above. See methodology for the full pipeline.

Risk profile

• Smart contract risk

  Funds are deposited into a smart contract. A bug or exploit in the contract could lead to total loss. Audits reduce, but do not eliminate, this risk. Check the protocol page for audit history.

• Depeg risk

  The pool is built on stablecoins. A depeg of any underlying asset would impact returns and principal.

• Yield variability

  Current APY is 15.20%; 30-day mean is 13.77%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 67% confidence based on historical patterns.

These notes are derived from the pool's structured data, not editorial advice. See our methodology.