Summary
Implement Convex FRAX rETH/frxETH ragequit function with a 4% fee.
Background and Motivation
I own most of the liquidity in Convex FRAX rETH/frxETH, 93% of it. 219 days ago I decided to lock for 3 years, but the pool hasn’t received any rewards for some time and won’t receive any rewards from what I understand.
In all of this time, these have been my total claimed rewards plus my currently claimable ones: 8141,27 CRV + 67,16 CVX + 378,77 FXS. That’s a total of $9,073 before fees, which is 4% of my position value. Therefore, I’d give up everything I made there over 7 months and even lose some money.
This pool has almost no volume, so the protocol doesn’t benefit in any way from me providing liquidity there. On top of that, if I can leave the pool I’d be able to provide more liquidity in other FRAX pools (I’m already providing in several others), which would be mutually beneficial.
Pool Details
Pool / LP Token : ETH: 0xe7c6E0A739021CdbA7aAC21b4B728779EeF974D9
Convex FRAX vault: ETH: 0x8335EAd657C223A16F2cF8762FD88f8A3a32DbB8
Vote
• For: Implement Convex FRAX rETH/frxETH ragequit function with a 4% fee.
• Against: Do Nothing