The team at Cega recently released a whitepaper for their upcoming exotic derivatives protocol. Their whitepaper can be found here. Here are some of the details you’ll want to know.
The CEGA team is composed of:
Cega operates under @cega_fi on Twitter.
Their whitepaper and Medium article summarize the plans very nicely. They want to make it easy for casual investors to build complex derivatives. These exotic derivatives come in a few flavors, but they’re launching with a Fixed Coupon Note that is comprised of several puts and a long call. These create barriers of a “knock-in” (protecting against downside) and “knock-out” (improving yield if the market rallies).
I love to see these investment vehicles making it to the Solana network. Solana has very inexpensive transaction fees compared to Ethereum, which will allow users to interact with these products much more frequently. We’re already seeing great success on the Solana network with these sorts of products through Friktion.
Cega says returns will automatically compound. They mention you can “unstake at any time,” which means you can unwind your trade and not be locked into week long formats (like how Friktion operates).
Cega is currently hiring Rust developers to help build the project. Any parties interested are being directed to their application here.
We look to launch on devnet end of march / beginning of april!Arisa – https://discord.com/channels/923613303396253716/941896001097203752/945130107603927090
There are plans to launch a governance token, but details on this are unclear.