A team specializing in building structured products for the volatile cryptocurrency market has rolled out a new yield strategy for traders to earn additional returns for staking participants.
Cega announced Thursday the launch of its Dual Current Product, which offers 22% APY for staked ether (stETH) and ETH holders. The product provides enhanced yields through options trading.
Staking ether currently offers a yield of around 3%.
The new strategy comes to market as value locked staking via Lido reaches new highs. But it’s also a quieter time for ether relative to the broader market.
‘Innovative yields’
“This is the perfect type of product for when the market is just not moving that much,” Cega CEO Arisa Toyosaki said in an interview with The Block.
The increased boost could be a welcomed development for holders of ether, which has underperformed compared to other less prominent assets.
“Innovative yields are coming from re-staking solutions and chains, real yields are coming from structured investment solutions and strategies that are based on actual trades and derivatives,” she added.
That has been evident in the growth of the cryptocurrency options market, which saw aggregate open interest for bitcoin options top $16.5 billion this month.
Cega raised $9.3 million in seed funding in a round led by Dragonfly.
Sourced from cryptonews.net.
