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Logo of capcap
Total Value Locked$250.04m

TVL by Chain

Ethereum$250.04m

Key Metrics

Fees (Annualized)$7.65m
Fees 30d$355,348

Ethereum$355,348

Fees 7d$75,906

Ethereum$75,906

Fees 24h$11,036

Ethereum$11,036

Cumulative Fees$7.05m

Ethereum$7.05m

Revenue (Annualized)$487,929.06
Revenue 30d$14,391.09

Ethereum$14,391.09

Revenue 7d$129.09

Ethereum$129.09

Revenue 24h$62.11

Ethereum$62.11

Cumulative Revenue$449,162.09

Ethereum$449,162.09

Active Loans$45.49m

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.

Category:Lending

Audits:

WebsiteGitHubTwitter

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 GitHub

Yields

Pools Tracked1

Average Supply APY4.74%

Competitors

Aave V3 ($13.915b)Morpho Blue ($7.591b)SparkLend ($3.723b)Maple ($2.3b)Compound V3 ($1.136b)Venus Core Pool ($1.031b)Fluid Lending ($653.52m)Lista Lending ($605.96m)Euler V2 ($357.53m)Dolomite ($248.49m)

Frequently Asked Questions

What is cap?

Cap is a stablecoin protocol that provides credible financial guarantees via two products: the dollar-denominated cUSD and the yield-bearing stcUSD.

What is cap's TVL?

cap currently has $250.04m in total value locked. TVL has increased 15.7% over the past 30 days.

What chains does cap operate on?

cap operates on Ethereum. Ethereum holds the largest share at 100%.

How much has cap generated in fees and revenue?

Over the past 30 days, cap generated $355,348 in fees. Of that, $14,391.09 was protocol revenue. Based on the trailing year, the annualized rate is $7.65m in fees and $487,929.06 in revenue.

How does cap's TVL compare to similar protocols?

Among Lending protocols tracked by DefiLlama, cap ranks #14 by TVL. The category holds $40.332b across 464 protocols, and cap accounts for 0.6% of that total. Other leading protocols include Aave, Morpho, and Spark.

How much has been borrowed through cap?

cap currently has $45.49m in active loans.