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TVL $16MAPY 3.41%medium riskUpdated Feb 1, 2025

weETH/WETH-ng Convex Deposit

Deposit Curve weETH/WETH-ng LP tokens into Convex for boosted yields on this EtherFi liquid restaking pool.

ProtocolConvex
Networkethereum
SymbolCVXWEETH-NG
CategoryYield Vaults
Underlying Assets
weETHWETHETHCRVCVX
Contract Address0x3f353d76ae89dc2c89dcd0426e7fa9c96a332273

What is weETH/WETH-ng Convex Deposit?

This vault optimizes yields for the Curve weETH/WETH-ng (next generation) pool through Convex Finance. The pool pairs EtherFi's wrapped liquid restaking token (weETH) with WETH, enabling efficient swaps while LPs earn staking and restaking rewards.

How This Vault Works

  1. Provide weETH and/or WETH to the Curve ng pool
  2. Stake LP tokens in this Convex vault
  3. Convex applies boosted CRV rewards
  4. Earn restaking yield plus CRV and CVX
Yield Sources: ETH staking rewards, EigenLayer restaking rewards, EtherFi points, Curve swap fees, boosted CRV emissions, CVX rewards.

Understanding weETH

weETH (Wrapped eETH): EtherFi's non-rebasing liquid restaking token. Unlike stETH, weETH accumulates value rather than rebasing. It represents:
  • Underlying ETH stake
  • Ethereum staking rewards
  • EigenLayer restaking rewards
  • EtherFi loyalty points

weETH can be used throughout DeFi while still earning multiple yield sources.

EigenLayer Integration

EtherFi is a liquid restaking protocol built on EigenLayer:

  • Staked ETH secures Ethereum via staking
  • Restaked ETH secures additional networks via EigenLayer
  • Multiple reward streams for restakers
  • EtherFi points and EigenLayer points accrue to holders

Fee Structure

Standard Convex fees:

  • 16% of CRV rewards
  • No deposit/withdrawal fees

Risk Disclosures

Smart Contract Risk: Multi-layer exposure including Curve, Convex, EtherFi, and EigenLayer contracts. Restaking Risk: EigenLayer is a newer system. Slashing from restaked services could affect weETH value. Validator Risk: EtherFi operates validators. Slashing or operational issues affect weETH. Depeg Risk: weETH may trade at discount to ETH during market stress. Complexity Risk: Multiple yield sources create complex risk profile that is difficult to fully assess. Newer Technology Risk: Liquid restaking is an emerging category with less battle-testing.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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