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Cega Finance, a decentralized finance (DeFi) protocol specializing in structured investments and exotic options, has announced its acquisition by an undisclosed "leading platform."
Launched in June 2022 on Solana and later expanding to Ethereum and Arbitrum, Cega was the first to introduce exotic options to the DeFi ecosystem. Unlike standard options, exotic options allow for tailored strategies with additional conditions, enabling more customized financial solutions. Over its three-year tenure, Cega processed over $500 million in transaction volume and maintained an impeccable record of user fund security, according to Cega's website.
Cega’s original vision was to build the next evolution in DeFi derivatives. Today, we are excited to announce that we’ve been acquired by a leading platform to continue driving this vision forward. Our team is immensely proud to have been the first to bring exotic options to…
— cega 🥚 (@cega_fi) November 27, 2024
In March 2023, Cega raised $5 million in funding at a valuation exceeding $60 million. Despite the acquisition, the identity of the acquiring platform and financial terms remain undisclosed. Cega emphasized that the move aligns with its mission to advance the evolution of DeFi derivatives, and that its new owner will "continue driving this vision forward."
With the acquisition, Cega said that its product suite would sunset by the end of 2024, assuring users that withdrawal operations would continue seamlessly and directing inquiries to its Discord community.
we got acquired.
— atoy (@arisatoyo) November 27, 2024
when we started cega, our dream was to bring something truly innovative to defi. i’m so proud of what our team has built, the milestones we’ve achieved, and the incredible community that supported us along the way.
this acquisition marks an exciting new chapter… https://t.co/LKMvy3XQaB
Cega co-founder and CEO Arisa Toyosaki expressed optimism about the transition, stating that while the protocol in its current form is ending, its mission to push the boundaries of DeFi derivatives lives on. “You may see us popping back up somewhere else,” Toyosaki said.
Toyosaki was recently featured on an episode of Blockhead's weekly podcast, Blockcast, discussing building accessible, lower-risk structured products for retail investors and Japan’s evolving crypto landscape.
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