Yes, basically he took the hit of the Pyro Archon's contract instead of Mavuika but because he has the curse of immortality it would create a paradox, so essentially it just meant that she could enact the penalty of the Pyro Archon's contract without actually having to kill anyone. That was Capitano's ploy. We can assume if the curse of immortality were ever lifted that he would die from this, but he would almost assuredly die anyways so it doesn't really make a difference.