Step-by-step instructions on how deposit on Cega Ethereum
Introduction
GM! ☀️ We’re thrilled you’re joining us today for our Ethereum launch. If this is your first time to Cega, exotic options, DeFi, or even crypto, we’re here to make sure you have a great experience.
To start, what is Cega? Cega is the leading decentralized finance (DeFi) protocol that is building exotic options structured products which creates safer, high-yielding investment opportunities for every crypto user. We’re backed by top investors including Dragonfly, Pantera, Robot Ventures, Coinbase Ventures. Cega’s team brings together former exotic options traders, startup founders, and silicon valley engineers to push the boundary on crypto innovation.
For more information about Cega and its products, please visit our docs here: https://docs.cega.fi/cega/
What Ethereum wallets does Cega support?
On Ethereum Mainnet, Cega can be easily accessed by leading wallet service providers including Metamask, Coinbase Wallet, and WalletConnect (which enables Fireblocks and Gnosis Safe users, among many other wallets, to stake with Cega).
Starting Checklist
Check that you have the following things ready before making your first deposit on Ethereum.
- Ethereum wallet
- See the list of supported wallets above
- Don’t have a wallet yet? Most users use Metamask and you can find instructions here: link
2. Ether (ETH)
- You need Ether to pay for transaction fees that the Ethereum network charges for transactions performed on Ethereum. Getting $30 USD worth of Ether should be plenty for the transaction fees for your first deposit
- Note: Ethereum transaction fees may be higher or lower depending on how busy the network is when you’re depositing! When it’s busier, fees are higher. If you’re worried about transaction fees and want to try Cega in a low transaction fee environment, you can also try Cega on the Solana blockchain! Instructions here: https://cegafi.medium.com/the-0-to-1-guide-to-cega-4586f163f652
- There are a number of ways to acquire ETH: link
3. USDC
- Need USDC stablecoin to make investments / deposits in Cega’s vaults
- Get some from Circle or swap your ETH for it (try Uniswap on Ethereum)
It’s time to make your first deposit!
Video Instructions
Prefer to watch a video? Here’s our video guide:
Cega Mainnet Instructions
Step 1: Visit Cega web application
Go to https://app.cega.fi/
Step 2: Connect your Metamask Wallet
Hit “Connect Wallet” in the top right corner.
Choose Ethereum.
Choose MetaMask
Click “Connect” when prompted to connect to Cega Exotic Options
Step 3: Browse investment vaults
Review the different vaults listed on the main page.
Click on a card to see details about the investment product.
Step 4: Invest in vault
On the vault detail page, enter the amount of USDC you wish to deposit using the box on the right side.
Right below the amount you wish to deposit use the slider to adjust the amount of leverage you wish to take on with your investment
Click Preview Deposit.
Review the details of your deposit
First Approve the usage of USDC and wait for the transaction pending approval (this step can take up to 1 minute depending on Ethereum network)
After the pending approval Metamask wallet will pop out and users can confirm the final transaction to deposit!
Please note that Ethererum transaction price may vary depending on gwei. Please refer to Etherscan for the current gas price (GWEI). We recommend our users to deposit when the gas price is less than 50 gwei. To learn more about gas price check out this article.
Step 5: Done!
That’s it! Once you see this screen, your USDC deposit has been added to the Cega queue!
User deposits are batched and processed weekly in the upcoming Thursday.
When your deposit is processed, you will receive Cega vault tokens in your wallet which represent the total value of your Cega position (principal and accrued yield). You can redeem your Cega vault tokens for USDC when you choose to withdraw.
To learn more about Cega’s vault lifecycle, please read this article: https://docs.cega.fi/cega/products/overview/fcn/vault-lifecycle
To learn more about Cega vault tokens, please read this article: https://docs.cega.fi/cega/products/overview/fcn/vault-tokens or scroll down to the FAQ below.
Step 6: Withdrawal
Investors can submit withdrawals at any time which will add the request to the withdrawal queue. When a vault expires (after 27 days), all queued withdrawals are processed and funds are returned to the user’s wallet.
Note: When users submit withdrawal your vault tokens are sent out of your wallet and added to the withdrawal queue. USDC will show up in users wallet after withdrawal queues have been processed
Funds that aren’t withdrawn are automatically reinvested in a new 27 day vault for the same investment product.
FAQ:
How can I connect Gnosis Safe using wallet connect?
Please see this guide by Gnosis Safe: https://help.safe.global/en/articles/4356253-walletconnect-safe-app
How can I import vault tokens to Metamask?
After user’s deposit is processed on Thursday (see Step 5 above) the tokens will not automatically show up in your Metamask wallet. You can follow the instructions below to import the tokens to your wallet. In the future this will be easier, update to come!
Instructions:
Step 1: Open up Metamask wallet and go to Assets.
Step 2: Scroll to the bottom of the Assets page and click import tokens.
Step 3: Then click on Custom token and copy the address of the Cega vault you deposited into found in the portfolio tab.
Step 4: After pasting the Token Contract Address, rename lpCega token symbol to the corresponding vault name to help remember which vault you deposited into! Token decimal will be autofilled thus no changes needed.
Stuck? Have more questions?
Visit our Cega support guides (link) or documentation (link) to see if your question is answered.
Join our Cega community on Discord at www.discord.gg/cega . There you’ll find plenty of resources about exotic options. You’ll also get the latest updates on Cega developments and events.
That’s it folks! Enjoy the Ethereum mainnet and tweet us your thoughts and good vibes! ☀️
