Reminder. Cap is 100% backed and our reserves are verifiable onchain. Reserves are not controlled by a human team, but by smart contract rules. See for yourself 👇
Cap is backed by USDC. When the USDC is not being borrowed by an operator, it's deployed into an overcollateralized lending market for passive yield. Our team published two reserve trackers: one on the site and one on Dune 1. Dune dashboard: 2. Protocol health page: Additionally, a community member @hin_myy made an in depth @Dune dashboard as a neutral third-party source:
Cap is a true smart contract protocol, with a set of rules that all participants need to abide by. As a neutral marketplace for yield, Cap is built in a manner that aligns with the values of DeFi including being transparent and verifiable.
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