Llama Airforce operates a pxCVX Pounder vault in partnership with Pirex. pxCVX holders can deposit their pxCVX into this vault in exchange for a uCVX (Union CVX) vault share token. CVX can also be converted directly to uCVX (the protocol will automatically lock the CVX for pxCVX and deposit it for uCVX). uCVX is a ERC-4626 token which is composable within the Pirex ecosystem and can be used as collateral in lending platforms such as Rari Fuse, along with pxCVX.

To participate, navigate to the uCVX vault:

The pxCVX Pounder vault automatically claims pxCVX rewards for the pxCVX in the vault, sells the rewards for more CVX, locks this CVX for pxCVX, and streams (distributes) this pxCVX over a 2-week period. As pxCVX rewards are streamed, the amount of pxCVX withdrawable for each uCVX vault share increases in relation to the amount of rewards streamed. Following the inception of the vault, where 1 uCVX = 1 pxCVX, the number of pxCVX per uCVX increases over time as more pxCVX rewards are claimed, sold and streamed as more pxCVX. uCVX can be withdrawn for pxCVX at any time (minus the autocompounder vault’s withdrawal fee).

When Pirex users withdraw their pxCVX from the vault (burning uCVX in the process) a withdrawal fee is incurred which is shared amongst the remaining vault depositors. This withdrawal fee is used to disincentivise those entering the vault and leaving before contributing to any of the streamed rewards (i.e., before one full Pirex epoch).


Sarah deposits 10 pxCVX for 10 uCVX (note: this 1:1 pxCVX to uCVX ratio is for illustrative purposes only – the ratio will change as more pxCVX is added to the vault through autocompounding). This 10 uCVX represents her share of the pxCVX in the Pounder vault. Because rewards are streamed, Sarah begins earning pxCVX yield on her pxCVX in the vault the moment she deposits her pxCVX in the vault. The amount of pxCVX she has in the vault increases over time as pxCVX rewards are streamed by the vault as the vault claims bribe rewards, sells them for CVX and locks that CVX for more pxCVX. In 2 months, Sarah decides to withdraw her 10 uCVX for her share of the pxCVX vault, and withdraws 20 pxCVX (illustrative numbers are used in this example).

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