When you wrap your eth to cxETH, do you still

ok, but when I trade I get 99% in cxETH. WHy would I do this then, when I can withdraw my ETH for free and send it to mainnet and then bridge it to Poly at a far cheaper price.

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23.02.2022

TecY Viva Автор вопроса

Xineohp
Did you just ask this question on Reddit as well?

I did. Didnt know which one was faster. I am trying to use cxETH and doing my analysis.

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23.02.2022

TecY Viva Автор вопроса

TecY Viva
ok, but when I trade I get 99% in cxETH. WHy would...

ANy insight I might be missing? IS this more for those that dont want to use protocol bridges and want to keep it locked with Celsius at a .01% ETH fee?

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23.02.2022

CGYAB89

TecY Viva
ANy insight I might be missing? IS this more for t...

Do you mean trading on Quickswap for cxEth?

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23.02.2022

TecY Viva Автор вопроса

CGYAB89
Do you mean trading on Quickswap for cxEth?

I mean when you convert your eth to cxETh to get it on Poly. cxETH is worth 1% less in eth if you bring it back. Essentially that is the fee to bridge.

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23.02.2022

TecY Viva Автор вопроса

This is where I might be missing something. I have ETH in Celsius currently. If i want to bridge it to Polygon, I use Celsius Dex to convert/send ETH to cxETH to use on Poly right? In this conversion my previous 1ETH is now 1cxETH. But 1cxETH on polygon is worth 0.990753 ETH. So im losing ETH in my conversion.

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23.02.2022

CGYAB89

TecY Viva
This is where I might be missing something. I have...

You're still getting 1:1 Eth to cxETH, but liquidity is still building on the Eth/cxETH pair. As that liquidity increases, that gap should narrow.

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23.02.2022

TecY Viva Автор вопроса

CGYAB89
You're still getting 1:1 Eth to cxETH, but liquidi...

ok. Ill keep monitoring the peg. Does our ETH in the vault still earn the rewards? or is this pretty much forfeited when you convert to cxETH?

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23.02.2022