Vault tokens

Overview

When you stake USDC into Cega's vaults and once vaults begin trading, you will receive Cega vault tokens (sent to your wallet) which represent your financial position (PNL) in the smart contract.

See the "Vault Tokens" above. A user depositing 50K USDC receives 50K vault tokens which will hold a larger and larger redemption value as the yield is paid and as money compounds in subsequent vaults.

There is a different vault token ID (e.g. AGUQx...BbVsE) for different Cega vault trades.

This means that if you are depositing weekly into the same Cega vault (e.g. Gotta Fo Fast), you should expect to see multiple, different Cega vault tokens in your wallet

When I deposit money into a vault Why don't I see tokens?

Users will NOT immediately receive vault tokens when they deposit. This is because user deposits go into a deposit queue and wait there until the queue is process // the vault officially begins trading its 27 day period (see vault lifecycle for more details). Once the deposit queue is processed, users will be sent their Cega vault tokens.

When the vault trades and I get tokens, what do they mean?

The tokens that you receive represents your on-chain PNL for a given Cega position. For example, vault tokens are initially granted in an amount 1:1 relative to the initial deposit (e.g. deposit $100, receive 100 vault tokens). After a few months of staking with Cega and collecting the yield / auto-compounding vault deposits, your vault tokens will be worth more than $1 each and upon redemption, you will receive the full value of your yields and principal.

How do I get my USDC back?

Investors can submit withdrawals at any time which will add the request to the withdrawal queue. When a vault expires (27 days), all queued withdrawals are processed and funds are returned to the user’s wallet. Funds that aren’t withdrawn are automatically reinvested in a new 27 day vault for the same investment product

How much are vault tokens worth?

All Cega vault tokens are worth 1 USDC on the day of deposit. As a user continues staking with Cega, that vault token will be worth more to represent the earnings owed to the user when they withdraw.

Are there scam vault tokens?

Yes, unfortunately. Please do not fall for scams, and report all scams or questionable activity to us

Can I send my vault tokens to someone else? Will they be able to redeem it?

Yes. You can deposit $1k, receive 1K vault tokens, and then send those tokens to someone else. That other person will be able to redeem the vault tokens if they choose. The value of the vault token does not change since it is the on-chain representation of your PNL.

What happens if I lose my vault token?

Please don’t burn your Cega tokens as we can’t replace them. They are tickets to claiming your original deposits and accrued yield/compounding from the vaults.

Can I store vault token in a multi sig or send it to a friend? Can they withdraw on my behalf?

Yes! If you send the token to another wallet or friend the tokens can still be redeemed from a different wallet

Solana Specific Info

When users deposit their fund on Solana the tokens will show up as Cega Vault (# Vault Name) in the phantom wallet.

Ethererum Specific Info

If you're checking your wallet for vault tokens and don't see them, there is a chance you need to manually import the vault token into your wallet. Please find the Cega vault contract address corresponding to the product you invested in to add vault tokens manually. You can find the vault token addresses within the portfolio page: https://app.cega.fi/portfolio.