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capFrontier Program - Epoch 3
Cap enters its third and final epoch of Frontier. Epoch 3 will begin on October 13th and last until the end of Frontier. The program may last less than the originally-intended 5 month period in the event that certain internal metrics are met.Participation boostNote that there will be a boost for users that participate in Cap consistently from earlier epochs. The longer a user participate in Frontier, the better their outcome will be. Users that leave Frontier early will not receive the full b...
capCap Frontier Program
IntroOn August 18th, Cap will open to the public on Ethereum mainnet. All protocol functions will go live on this date. In order to track user contribution, “Caps” will be awarded for select user activity that benefit the Cap ecosystem overall. Caps are not just points, but a tool that will be used to identify key community members that are power users of our protocol. For example, we will reach out to top Caps holders for unique perks, special events, and additional access to the team.Struct...
capWhat is CAP: A Gentle Introduction to cUSD
The online platform economy has enabled small startups to scale to large tech giants, based on one counterintuitive dynamic: they do not own any of the inventory that makes up their networks. The most classic examples are Uber, which does not own any of the vehicles in its fleet, and Airbnb, which does not own any of the rooms that dot the platform. Using the power of the market, these companies are able to match those offerings with those in need of a service, whether it be a ride downtown o...
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capFrontier Program - Epoch 3
Cap enters its third and final epoch of Frontier. Epoch 3 will begin on October 13th and last until the end of Frontier. The program may last less than the originally-intended 5 month period in the event that certain internal metrics are met.Participation boostNote that there will be a boost for users that participate in Cap consistently from earlier epochs. The longer a user participate in Frontier, the better their outcome will be. Users that leave Frontier early will not receive the full b...
capCap Frontier Program
IntroOn August 18th, Cap will open to the public on Ethereum mainnet. All protocol functions will go live on this date. In order to track user contribution, “Caps” will be awarded for select user activity that benefit the Cap ecosystem overall. Caps are not just points, but a tool that will be used to identify key community members that are power users of our protocol. For example, we will reach out to top Caps holders for unique perks, special events, and additional access to the team.Struct...
capWhat is CAP: A Gentle Introduction to cUSD
The online platform economy has enabled small startups to scale to large tech giants, based on one counterintuitive dynamic: they do not own any of the inventory that makes up their networks. The most classic examples are Uber, which does not own any of the vehicles in its fleet, and Airbnb, which does not own any of the rooms that dot the platform. Using the power of the market, these companies are able to match those offerings with those in need of a service, whether it be a ride downtown o...
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Epoch 1 will end on September 1st, when Epoch 2 starts. Ahead of this change, we’re releasing details for epoch 2. Remember that Frontier is designed for long term users - continued participation is needed to unlock its full potential.
Epoch 1 of Cap’s Frontier Program was simple, bootstrap cUSD’s reserve with USDC. The market reception was tremendous, with over $65M in user deposits from a distributed set of users. Blue chip projects have already integrated cUSD and stcUSD. Pendle listed an stcUSD market within days of launch. Redstone built an oracle for cUSD on Ethereum. These coveted integrations are just the start of a long list of planned integrations for Cap assets.
Based on user demand, the team set up a dashboard for users to track Caps. For any questions or suggestions, visit our community Discord or Telegram channels.
Yield engine start: with the bootstrapping of cUSD’s reserve complete, Cap will slowly begin to turn on its yield engine. Delegators have already begun to create their Symbiotic vaults to delegate to Cap operators. This process will take a few weeks given the need to wait for Symbiotic delegation epochs.
Cap users are encouraged to participate in activities throughout Frontier. Continual participation in activities prevents caps inflation from hurting initial depositors.
Starting September 1st, cUSD holders will continue to receive Caps for the next 6 weeks. The rate of Caps will be 10x caps per cUSD.
cUSD and stcUSD holders can earn additional Caps on top of their normal rates by using Pendle. YT-cUSD holders will earn the same rate of Caps as cUSD holders and also an additional rate on top. YT-stcUSD holders will earn Caps as well. Below are these aggregated rates:
Total YT-cUSD rate = 20x
Total YT-stcUSD rate = 5x
Total LP-cUSD rate = 20x
Total LP-stcUSD rate = 5x
Lenders to Cap assets - those providing stablecoin liquidity for Cap asset holders to borrow - will earn Caps.
PT-cUSD, PT-stcUSD, and stcUSD will be integrated on lending markets. Lenders to these assets will earn the same rate as in the previous epoch. Information on these lending markets will be posted as listings occur.
As a reminder, Cap’s two flagship products are:
cUSD = cUSD is Cap’s digital dollar asset. It is redeemable for available collateral assets, such as blue chip stablecoins and regulated money market funds.
stcUSD = stcUSD is the yield-bearing version of cUSD. It earns yield from both the base strategies of cUSD’s collateral assets, as well as yield from Cap’s allocations to institutional yield operators.
Note: All loans/allocations to operators from Cap’s reserve are overcollateralized by ETH and BTC derivatives via EigenLayer and Symbiotic.
Epoch 1 will end on September 1st, when Epoch 2 starts. Ahead of this change, we’re releasing details for epoch 2. Remember that Frontier is designed for long term users - continued participation is needed to unlock its full potential.
Epoch 1 of Cap’s Frontier Program was simple, bootstrap cUSD’s reserve with USDC. The market reception was tremendous, with over $65M in user deposits from a distributed set of users. Blue chip projects have already integrated cUSD and stcUSD. Pendle listed an stcUSD market within days of launch. Redstone built an oracle for cUSD on Ethereum. These coveted integrations are just the start of a long list of planned integrations for Cap assets.
Based on user demand, the team set up a dashboard for users to track Caps. For any questions or suggestions, visit our community Discord or Telegram channels.
Yield engine start: with the bootstrapping of cUSD’s reserve complete, Cap will slowly begin to turn on its yield engine. Delegators have already begun to create their Symbiotic vaults to delegate to Cap operators. This process will take a few weeks given the need to wait for Symbiotic delegation epochs.
Cap users are encouraged to participate in activities throughout Frontier. Continual participation in activities prevents caps inflation from hurting initial depositors.
Starting September 1st, cUSD holders will continue to receive Caps for the next 6 weeks. The rate of Caps will be 10x caps per cUSD.
cUSD and stcUSD holders can earn additional Caps on top of their normal rates by using Pendle. YT-cUSD holders will earn the same rate of Caps as cUSD holders and also an additional rate on top. YT-stcUSD holders will earn Caps as well. Below are these aggregated rates:
Total YT-cUSD rate = 20x
Total YT-stcUSD rate = 5x
Total LP-cUSD rate = 20x
Total LP-stcUSD rate = 5x
Lenders to Cap assets - those providing stablecoin liquidity for Cap asset holders to borrow - will earn Caps.
PT-cUSD, PT-stcUSD, and stcUSD will be integrated on lending markets. Lenders to these assets will earn the same rate as in the previous epoch. Information on these lending markets will be posted as listings occur.
As a reminder, Cap’s two flagship products are:
cUSD = cUSD is Cap’s digital dollar asset. It is redeemable for available collateral assets, such as blue chip stablecoins and regulated money market funds.
stcUSD = stcUSD is the yield-bearing version of cUSD. It earns yield from both the base strategies of cUSD’s collateral assets, as well as yield from Cap’s allocations to institutional yield operators.
Note: All loans/allocations to operators from Cap’s reserve are overcollateralized by ETH and BTC derivatives via EigenLayer and Symbiotic.
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