Convex Finance · Ethereum

STETH-FRXETH

Overview

The Convex Finance STETH-FRXETH pool on Ethereum is a multi-asset liquidity position that generates yield through the protocol's staking and governance token incentives. Users deposit both staked ETH (STETH) and Frax-based ETH (FRXETH), which are then used to provide liquidity for Curve’s convex gauge pools, earning rewards in CRV and CVX tokens.

Total APY stands at 2.11%, composed of a base yield of 1.20% and an additional reward layer of 0.91%. Over the past seven days, this rate has increased by 0.40%, while over thirty days it has decreased by 1.35%, placing the current APY below the 30-day mean of 1.62%.

TVL in the pool is $14.9M with no reported change over the past seven days; primary exposure here is smart-contract risk due to the multi-asset nature of the liquidity provided. This pool benefits from Convex Finance's extensive liquidity and active governance token distribution, enhancing yield potential for participants.

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.

• Yield variability

  Current APY is 2.00%; 30-day mean is 1.83%. Yields can change as TVL and incentive emissions change.

• DefiLlama yield prediction

  DefiLlama's model classifies this pool's yield as "Stable/Up" with 83% confidence based on historical patterns.

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