Ask about cap · freeTotal Value Locked$223.82m
TVL by Chain
Ethereum$223.82m
Key Metrics
Fees 30d$494,295
Fees 30d by chain
Ethereum$494,295
Fees 7d$93,537
Ethereum$93,537
Fees 24h$20,144
Ethereum$20,144
Cumulative Fees$8.32m
Ethereum$8.32m
Revenue 30d$419.18
Revenue 30d by chain
Ethereum$419.18
Revenue 7d$78.81
Ethereum$78.81
Revenue 24h$11.82
Ethereum$11.82
Cumulative Revenue$450,379
Ethereum$450,379
Holders Revenue 30d$0
Holders Revenue 30d by chain
Ethereum$0
Holders Revenue 7d$0
Ethereum$0
Holders Revenue 24h$0
Ethereum$0
Cumulative Holders Revenue$0
Ethereum$0
Incentives 1y$0
Incentives 30d$0
Incentives 7d$0
Incentives 24h$0
Cumulative Incentives$0
Earnings (Annualized)$224,364
Earnings 30d$419.18
Earnings 7d$78.81
Earnings 24h$11.82
Cumulative Earnings$450,379
Market Cap$115.54m
$CAP Price$0.074
Fully Diluted Valuation$740.65m
Outstanding FDV$436.07m
$CAP Volume 24h$7.44m
CEX Volume$8.95m
DEX Volume$3.32m(44.66% of total)
Active Loans$54.81m
Total Raised$15.4m
Oct 28, 2024$1.9mRound: Pre-SeedInvestors: Kraken Ventures, Robot Ventures, Anagram, ABCDE, SBC Limited, Kain Warwick, Fernando Martinelli, Sandeep Nailwal
Apr 7, 2025$8mRound: SeedInvestors: Franklin Templeton, Triton Capital, GSR, Flow Traders, Laser Digital Ventures, IMC Financial Markets, RockawayX, Superscrypt, Selini Capital, CMCC Global, Caladan, Paper Ventures, Presto Labs, Fasanara Capital, Auros Global, Breed VC, Curved Ventures, Nonce Classic, Flowdesk
Jun 17, 2026$5.5mRound: Public token sale
Protocol Information
Cap is a stablecoin protocol that provides credible financial guarantees via two products: the dollar-denominated cUSD and the yield-bearing stcUSD.
Audits:
Methodology
TVL: count the total supplied assets on capToken vaults and the total delegated assets on networks (symbiotic, eigenlayer, etc.). Bridged tokens on MegaETH are tracked via source chain (Ethereum) collateral only.View code on GitHubFees: All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).View code on GitHubRevenue: Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.View code on GitHubHolders Revenue: View code on GitHubIncentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Yields
Pools Tracked1
Average Supply APY4.56%
Competitors
cap history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Aug 14, 2025 to Oct 18, 2026.
All-time high TVL: $483.79m on Jan 28, 2026. All-time low TVL: $73,025 on Aug 14, 2025.
Daily TVL, Sep 19, 2026 to Oct 18, 2026
| Date | TVL |
|---|---|
| Sep 19, 2026 | $351.23m |
| Sep 20, 2026 | $350.77m |
| Sep 21, 2026 | $353.56m |
| Sep 22, 2026 | $367.84m |
| Sep 23, 2026 | $347.49m |
| Sep 24, 2026 | $339.73m |
| Sep 25, 2026 | $292.81m |
| Sep 26, 2026 | $291.28m |
| Sep 27, 2026 | $291.68m |
| Sep 28, 2026 | $292.21m |
| Sep 29, 2026 | $290.26m |
| Sep 30, 2026 | $289.85m |
| Oct 1, 2026 | $290.85m |
| Oct 2, 2026 | $276.71m |
| Oct 3, 2026 | $271.58m |
| Oct 4, 2026 | $272.7m |
| Oct 5, 2026 | $277.69m |
| Oct 6, 2026 | $284.92m |
| Oct 7, 2026 | $291.46m |
| Oct 8, 2026 | $278.33m |
| Oct 9, 2026 | $263.36m |
| Oct 10, 2026 | $270.88m |
| Oct 11, 2026 | $271.5m |
| Oct 12, 2026 | $216.66m |
| Oct 13, 2026 | $212.02m |
| Oct 14, 2026 | $225.11m |
| Oct 15, 2026 | $224.36m |
| Oct 16, 2026 | $222.81m |
| Oct 17, 2026 | $220.64m |
| Oct 18, 2026 | $223.82m |
TVL at each month end, Aug 2025 to Oct 2026
| Date | TVL |
|---|---|
| Aug 31, 2025 | $72.01m |
| Sep 30, 2025 | $154.94m |
| Oct 31, 2025 | $331.88m |
| Nov 30, 2025 | $305.78m |
| Dec 31, 2025 | $378.79m |
| Jan 31, 2026 | $340.38m |
| Feb 28, 2026 | $159.65m |
| Mar 31, 2026 | $271.72m |
| Apr 30, 2026 | $307.53m |
| May 31, 2026 | $294.78m |
| Jun 30, 2026 | $220.73m |
| Jul 31, 2026 | $257.05m |
| Aug 31, 2026 | $323.12m |
| Sep 30, 2026 | $289.85m |
| Oct 18, 2026 (latest) | $223.82m |
Fees, revenue and holders revenue by UTC calendar month, Aug 2025 to Oct 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Aug 2025 | $33,892 | $2,425 | $0 |
| Sep 2025 | $496,719 | $103,410 | $0 |
| Oct 2025 | $993,697 | $164,937 | $0 |
| Nov 2025 | $919,107 | $75,157 | $0 |
| Dec 2025 | $956,475 | $41,519 | $0 |
| Jan 2026 | $1.22m | $31,415 | $0 |
| Feb 2026 | $480,174 | $5,351 | $0 |
| Mar 2026 | $336,776 | $1,591 | $0 |
| Apr 2026 | $431,352 | $1,972 | $0 |
| May 2026 | $423,988 | $3,765 | $0 |
| Jun 2026 | $411,175 | $3,474 | $0 |
| Jul 2026 | $370,697 | $14,175 | $0 |
| Aug 2026 | $439,038 | $468.99 | $0 |
| Sep 2026 | $483,275 | $509.31 | $0 |
| Oct 2026 (to date) | $314,773 | $209.76 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/cap
Frequently asked questions
What is cap's TVL?
As of Oct 18, 2026, cap has $223.82m in total value locked. TVL has decreased 31.2% over the past 30 days.
How much has cap generated in fees and revenue?
Over the past 30 days, cap generated $494,295 in fees. Of that, $419.18 was protocol revenue. Based on the trailing year, the annualized rate is $7.23m in fees and $224,364 in revenue.
What is the CAP token price and valuation?
CAP is currently trading at $0.074. Its circulating market capitalization is $115.11m, ranking it #364. Its fully diluted valuation is $737.86m. Supply currently stands at 1.56b circulating, 10b total supply, 10b maximum supply.
How has CAP performed recently?
CAP is down 19.8% over the past 7 days and up 34.5% over the past 30 days. Its all-time high is $0.12, reached on Oct 12, 2026. The token is currently 38.9% below that level.
How does cap's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, cap ranks #19 by TVL. The category holds $51.354b across 517 protocols, and cap accounts for 0.4% of that total. Other leading protocols include Aave V3, Morpho Blue, SparkLend, Maple, Compound V3, Venus Core Pool, Lista Lending, Fluid Lending, Aave V4, and Dolomite.
How much has been borrowed through cap?
As of Oct 18, 2026, cap has $54.81m in active loans.