DeFi Derivatives Protocol Cega Finance Launches on Devnet

DeFi derivatives protocol Cega Finance announced the launch of its first exotic options product on Devnet, allowing users to test the experience via staking mockUSDC. The product is said to be a Fixed Coupon Note (FCN) vault in an ETH-SOL-BTC structure, and the price of ETH, SOL and BTC will not fall by more than 50% in duration. The product will continue to provide a fixed return to the user until the knock-in/knock-out conditions are triggered. If the knock-in/knock-out condition is not triggered within the whole duration, the user's principal will be returned in full at maturity, but if the condition is triggered, the principal may be lost. Previously, Cega Finance closed a $4.3 million seed round led by Dragonfly Capital with participation from Pantera Capital, Coinbase Ventures, Alameda Research, Solana Ventures and others in March of this year.