A team specializing in building structured products for volatile cryptocurrency markets has launched a new profit strategy that allows traders to earn additional profits from stakers.
Cega on Thursday announced the launch of its Dual Current product, offering 22% APY to staked ETH (stETH) and ETH holders. This product offers enhanced returns through options trading.
Staking Ethereum currently offers a yield of around 3%.
As value-locked staking with Lido reaches new highs, a new strategy is coming to market. However, this is also a quieter time for Ethereum compared to the broader market.
‘Innovative rate of return’
“This is the perfect type of product for when the market isn’t moving that much,” Cega CEO Arisa Toyosaki told The Block.
The increased growth could be a welcome development for ether holders, who have been underperforming compared to other, less prominent assets.
“Innovative returns come from restaking solutions and chains, while real returns come from structured investment solutions and strategies based on real trading and derivatives,” she added.
This is evident in the growth of the cryptocurrency options market, with total open interest in Bitcoin options reaching $16.5 billion this month.
Cega raised $9.3 million in seed funding in a round led by Dragonfly.
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