Cap is an on‑chain platform that unites depositors, borrowers, and underwriters in a USD‑denominated ecosystem. Depositors lock approved assets to receive cUSD and earn yield from unsecured loans, while underwriters provide credit guarantees and collect premiums, and borrowers access instant USD credit backed by the pooled capital. The protocol tokenizes yields and guarantees, offering transparent risk monitoring and automated incentives for participants.
Funding
$8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
8OFTTCFounders
Product
Problem
Traditional financial markets separate deposit, credit, and guarantee services, creating friction, limited access, and opaque risk management for both institutional and retail participants.
Solution
Cap operates a three-sided on-chain protocol that connects depositors, borrowers, and underwriters within a unified USD‑denominated ecosystem. Depositors lock approved assets and receive cUSD, earning yield generated from unsecured loans originated to borrowers. Underwriters provide credit guarantees and earn premiums, while borrowers access instant USD credit backed by the pool of guaranteed capital. The platform tokenizes yields and guarantees, enabling transparent, programmable financial products and real‑time risk monitoring through smart contracts. Incentive programs such as Homestead reward active participation with caps tokens, aligning user behavior with the protocol’s long‑term sustainability.
Target Audience
Cap serves institutional lenders, crypto‑native underwriters, and sophisticated retail investors seeking on‑chain USD yield, credit exposure, or guarantee provision.
Features
- cUSD token representing deposited assets and accruing yield from the loan pool
- On‑chain unsecured USD loan issuance with dynamic LTV and health‑factor monitoring
- Underwriter marketplace where credit providers post guarantees and collect premiums
- Automated incentive mechanisms (COGs, caps accrual) for delegators and cUSD holders
- Integration with DeFi infrastructure (Pendle markets, restaking partners) to source real‑world institutional capital
- Transparent risk parameters and smart‑contract enforced collateralization
- Dashboard for real‑time tracking of deposits, borrowings, and guarantee performance