Cega
Summary
Cega (cega.fi) was a decentralized exotic options and structured products protocol that operated from June 2022 through late 2024 on Solana, Ethereum, and Arbitrum. Founded by Arisa Toyosaki, a named former derivatives trader, and backed by Dragonfly Capital, Pantera Capital, and Coinbase Ventures, the protocol processed over $500 million in cumulative transaction volume without a reported user fund loss. In November 2024 Cega was acquired by an undisclosed party and wound down its public-facing product suite, urging remaining depositors to withdraw.
Connected Entities
1 entities · 10 linked investigations- + 1 more
Timeline(11 events)
2021-12-01
Cega founded by Arisa Toyosaki and co-founders, incorporated in Singapore
Solana Compass / CoinDesk2022-03-08
Cega raises $4.3M seed round led by Dragonfly Capital with participation from Pantera Capital, Coinbase Ventures, Alameda Research, and Solana Ventures at a $60M valuation
Business Wire2022-06-01
Cega launches on Solana mainnet, claiming to be the first on-chain exotic derivatives protocol
Medium / Cega2022-11-01
Alameda Research (a Cega market maker counterparty and investor) collapses following the FTX crisis; Cega reports recovering all lent funds via ISDA contractual recourse
Medium / Cega2023-02-13
Zellic completes security audit of Cega's Ethereum smart contracts; no critical vulnerabilities found
Zellic / Cega Documentation2023-03-23
Cega raises additional $5M in a follow-on round, bringing total funding to $9.3M; Dragonfly Capital leads again with Pantera and Robot Ventures participating
Business Wire2023-03-31
Cega launches on Ethereum mainnet and introduces Leveraged Option Vaults (LOV) product
Business Wire2023-07-01
Cega expands to Arbitrum, completing its multi-chain deployment across Solana, Ethereum, and Arbitrum
The Block2024-04-02
Cega launches Gold Rush product combining gold-backed token XAUT and ETH with up to 83% advertised yield
CoinDesk2024-09-24
Cega launches Vault Token Market (VTM), allowing users to trade vault positions for liquidity before vault expiry
CoinDesk2024-11-27
Cega announces acquisition by an undisclosed 'leading platform'; halts new deposits and begins platform wind-down with a sunset deadline of end-of-year 2024
The BlockDecision Log
- hash: C8kdw8E85ywiJnzX31x4gFk7Hm9DWvUUT69fhaUMZ6Vg
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/31/2026, 9:15:04 PM
last updated: 5/31/2026, 9:15:08 PM
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