Cega Closes $4.3M in Funding From Coinbase, Alameda to Build First Exotic DeFi Derivatives  

Cega Finance announced on March 8 that it had raised $4.3 Million in a seed round, led by Dragonfly Capital Partners. Participation was also provided by various DeFi and cryptocurrency VCs such as Pantera Capital and Coinbase Ventures, Alameda Research and Solana Ventures.

Arisa Toyosaki was a former UBS derivatives trader and the platform now has a value of $60 million. According to the announcement, Cega plans to create the next generation of DeFi derivatives and introduce “exotic derivative capabilities” into the space.

Exotic DeFi Products

Cega’s team wants to explore the untapped market for DeFi derivatives. This traditionally includes options, futures and leverage.

The Solana-based platform offers basic call/put options, with advanced characteristics that can be combined to create “packaged offering” for investors. Cega offers an exotic offering called a “fixed coupon note”. This involves a combination of a basket with puts and a call that has knock-in or knock-out barriers. When traders expect prices to fall, a Put option is used. A Call is when they anticipate an increase.

Retail investors will benefit from these types of exotic structured products because they offer higher yields, built-in downside protection and compounded return.

Tom Schmidt, General Partner of Dragonfly Capital Partners. Cega is changing DeFi before adding:

“DeFi is a team that creates a breakthrough financial primitive. This in turn spurs the creation and growth of new products.

Joey Krug is Pantera Capital’s Chief Investment Officer. He said that exotic options have been valuable tools in managing and transforming risk. He said, “Now DeFi allows us to recast those tools with greater transparency & efficiency.”

March Solana Launch

Cega’s beta version of the platform will launch on Solana’s testnet later in the month. The company plans to extend the product to the compatible Ethereum Virtual Machine (EVM), which is the industry standard, shortly after.

Cega currently has four co-founders. These include traders who have experience pricing exotic options.

Over the last few months, the total value of DeFi has suffered a decline as both the underlying assets have declined and the crypto market has declined. DeFi Llama reports that TVL currently stands at $200 billion. This is 22% less than its peak in early December.

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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