Glossary

Underlying Asset The specific asset price feed (e.g., ETH/USDC) from which price movements determine the value and outcome of the option.

Downside Protection The percentage by which the price of the underlying asset(s) can fall before the vault experiences a knock-in event. Downside protection is a buffer feature of the fixed-coupon note, protecting users from downward swings in the underlying asset. For example, Cruise Control has 90% downside protection, meaning the prices of ETH or BTC can fall up to 90% before the vault knocks in.

Deposit Asset The asset (e.g., USDC or ETH) used as collateral for your vault position.

Settlement Asset The asset (e.g., USDC or ETH) you will receive at the conclusion of your vault position.

Knock-In Observation The frequency with which underlying asset prices are observed for a potential knock-in event.

Knock-In Observation Time The time of day at which the Knock-In Observation occurs.

Knock-In Logic The method used to observe the price movements of a basket of underlying assets to track for a knock-in event. A 'worst-of-basket' approach means that throughout the product's tenor, the price of the worst-performing asset is tracked and determines the outcome of the vault.

Auto-Rollover Enabled when user funds are automatically rolled over into the next vault following expiry. This saves users from having to manually redeposit into the next vault.

Tenor The length of time before the vault expires. All Cega vaults trade a 27-day tenor.

Deposit Closing Time The time at which deposits for the upcoming vault close. Deposits made after this time will be queued into the following week's vault.

Trading Time The time at which the vault begins trading and starts generating yield for users.

Expiration Date The date and time the vault expires and withdrawals are processed.

Minimum Deposit The minimum amount of collateral that can be deposited into the vault.

Minimum Withdrawal The minimum amount of vault tokens that can be withdrawn from the vault.