Vault lifecycle

Users should familiarize themselves with the Cega vault lifecycle. It's easiest to understand them by observing how funds flow through the system.

1. Vault Starts -- every Thursday morning US time is the start of a new 27 day vault trade

2. Deposit Window Open - investors have 7 days total from Thursday AM to Wednesday PM to deposit capital into a Vault before the trade is processed

3. Vault Trade Executed

   • The lifecycle of an Cega Vault is called an Epoch (27 days long)

   • Epochs start on Wednesdays at 1:00 UTC (21:00 GMT-4). This is also known as the Vault Start Date. At this time, the Vault's FCN trade is finalized with market markers. Assets in the vault are be bid on by leading market makers. It is in our pipeline to build an auction process.

4. Yield - investors accrue yield every day as soon as the Vault starts

5. Withdraw Window - investors can submit withdrawals throughout the entire life of the Vault. Withdrawals take place at Vault expiry

6. Vault Expiry - vaults expire after 27 days (FCN trade)

   • Deposits are auto-compounded and reinvested into a new Vault

7. New Vault - every 7 days, there is a new FCN Vault trading a 27 day maturity product

The diagram below illustrates the flow of capital in a Vault across time (Epochs) for 2 example vaults.