[Convex] Frax Protocol vlCVX fees

Summary

• Change vlCVX reward token for the Frax Boosting platform from cvxFXS to FXS.

Abstract

Convex Finance is working to improve its Frax protocol functionality; part of this effort includes improving the swap ratio for cvxFXS and FXS to encourage future locking of cvxFXS. To support this effort, Convex proposes changing the 7% of protocol fees collected by vlCVX as cvxFXS tokens to true FXS tokens, and keeping the same 7% protocol fee.

Currently, when a vlCVX user receives cvxFXS rewards, they must either be sold for profit, or added to the cvxFXS/FXS LP pool to earn further rewards. Since adding single sided to an LP pool is equivalent to selling, it would be of more interest for vlCVX users to receive FXS tokens instead. Thus, users can take profit directly, or obtain cvxFXS via a discount.