The Pegasus series are lightly armored corvettes with a small cabin, either atmospheric or ion as primary thrust and ample auxiliary hydrogen propulsion, giving the ships a wide operating range and massive lifting thrust for their size, and the resulting internal conveyor system makes the frame easy to reconfigure for various purposes. Armaments consist of two gatling turrets as main weapons and 6 interior turrets for point defense.

This versatility means that, until more specialized designs can be brought into service, the Pegasus, in her various configurations, functions as the "workhorse" of the ISL fleet.

Variants
Each layout of the Pegasus has a MK1 version, which has a small dorsal landing pad and is significantly lighter, and a MK2.

The MK2 replaces the landing pad with a jump drive, and also features additional O2/H2 Generators and emergency production (basic assembler and basic refinery), which may become necessary as the jump drive significantly extends operating range and the chances of requiring repair or refuel without a station increase.

• The 170 fulfills roles as tug (with a heavier lifting capacity than the Harpy series), rescue and asset recovery with its two large front-mounted landing gear and on board medical equipment.
  
• The C 1000 serves as a salvage and construction ship, with 2 welders, 2 grinders and four cargo containers.
  
• Although all Pegasus Corvettes are well defended, the V 180 has a more offensive orientation, with its front landing gear removed in favor of four fixed rocket launchers and a projector-based target lead indicator installed, making it much deadlier than other configurations. However it is still only a stop-gap until more dedicated military vessels become available.
  
• The O 520 is used for long range surface mining, in particular for surveying asteroids for the more valuable ores, and in the case of the MK2, even distant moons.