back12 Jul 20222 min read
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Cega Wants to Go Fast | Interview

Cōnfīdentia (n.): Assurance, Confidence, Boldness

There is no network like the Pyth network. Pyth is unlocking the best data for equities, commodities, FX, and crypto to empower pioneers across the DeFi space. The Confidentia is your weekly tidbit of alpha from these builders — but that’s a secret between us, OK?

This week, we’re doing rapid-fire questions with Cega, the exotic derivatives protocol.

Cega offers safer yields in volatile market environments and recently announced their mainnet launch with three inaugural vaults!

What is Cega?

Cega is the first DeFi exotic derivatives protocol that offers safer, high-yield vaults for investors to stake their stablecoin.

Cega vaults offer principal protection against severe market movements up to a 90% price drop. This means that even if the crypto market falls by 90% in the next 30 days, investors do not lose their principal while still collecting high yield!

We’re bringing real innovation to DeFi and can’t wait to continue growing our catalog of exotic options structured products for investors.

How does Cega use Pyth Price Feeds?

We use Pyth pricing data to determine whether Cega options trades have knocked-in or knocked-out and to to calculate the trade settlement at expiry.

It’s critical that pricing data is accurate, reliable, and available and we count on Pyth to deliver this quality for our customers.

Cega Mainnet and Vaults

Thank you! We are proud to be building better investment products for crypto retail investors that are safer, high-yielding, and offer yield transparency.

There are three inaugural vaults (and a secret fourth vault for Cega NFT holders, more on that later)! Each vault offers different price protection levels, APYs, and exposure to underlying crypto assets so investors can choose the one that aligns best with their needs.

Vault 1: “Cruise Control”

  • Underlying: BTC-ETH
  • Price Protection: 90% protected
  • Indicative APY: 8%

Vault 2: “Genesis Basket”

  • Underlying: BTC-ETH-SOL
  • Price Protection: 90% protected
  • Indicative APY: 11%

Vault 3: “Gotta Go Fast”

  • Underlying: BTC-ETH-SOL
  • Price Protection: 50% protected
  • Indicative APY: 134%

Get Involved

Users who hold our Cega Super Sanics NFT (available on Magic Eden) in their wallet while browsing our DeFi web app will see a fourth secret vault offering the highest APY investment opportunity.

This is just one of the many cool things we have planned for our community! For any newcomers, please get involved by joining our Discord and/or following us on Twitter! Our DMs are open so don’t hesitate to say hi!

We can’t wait to hear what you think! Feel free to join the Pyth Discord, follow Pyth on Twitter, and join the Telegram to learn more and ask any questions you may have. You can also learn more here.

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