TechFlow News, according to The Block, Solana-based DeFi derivatives protocol Cega has raised $5 million in funding led by Dragonfly Capital, with participation from Pantera Capital and Robot Ventures. This latest round brings Cega's total funding to $9.3 million, following its previous raise of $4.3 million in March last year. The new capital will be used to expand its protocol on Ethereum, where it plans to launch new products such as leveraged options. Its Ethereum rollout is scheduled for next week.
Cega is a Solana-based derivatives protocol focused on structured exotic derivative products. The protocol launched in June last year and reached a peak total value locked (TVL) of approximately $50 million, though significant outflows occurred following the collapse of FTX exchange. According to its website, Cega currently has a TVL of $6.3 million.
