Cap

Stablecoin · Synthetic Yield-Bearing · CAP

NetworkStablecoinSynthetic Yield-BearingInstitutional-GatedRWA-Backed1 coinsAudited

Cap issues cUSD, a synthetic dollar where users keep custody via smart contracts while institutional 'agents' generate yield through EigenLayer-secured restaking.

Non-custodial outsourced-yield dollar.

Circulating supply

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-0.0% 24h

Latest data · 15 min delay

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Competitors

Ranked top→bottom — who competes with Cap and how they differ.

#	Competitor	Positioning	Similarities	Differentiator
1	Circle (USDC)	Largest regulated fiat-backed dollar.	Both issue a USD-pegged stablecoin redeemable against reserves.	USDC is the deepest, most widely integrated regulated fiat-backed dollar with monthly Deloitte attestations and a public-company issuer.
2	Jupiter	Home of Onchain Finance	Both in Stablecoin (Synthetic Yield-Bearing).	Jupiter is a vertically integrated trading ecosystem (aggregator, perps, lend, stablecoin, launchpad), not a single credit product.
3	Ethena	Digital dollars for the internet economy.	Both in Stablecoin (Synthetic Yield-Bearing).	USDe is a synthetic dollar backed by crypto collateral and short futures (delta-hedged), not bank deposits. It is a structured carry product rather than a fiat-backed coin.
4	Frax Finance	Hybrid stablecoin pivoting to RWA backing.	Both in Stablecoin (Synthetic Yield-Bearing).	First-mover hybrid algo-collateral stablecoin, now pivoted to RWA-backed frxUSD with BUIDL — an institutional bridge to DeFi.
5	Resolv Labs	Two-tranche delta-neutral dollar.	Both in Stablecoin (Synthetic Yield-Bearing).	Two-tranche risk architecture — USR (stable yield) and RLP (leveraged risk) provide transparent risk separation.
6	Elixir	Wound-down synthetic dollar (deUSD).	Both in Stablecoin (Synthetic Yield-Bearing).	Wound-down: deUSD redemptions halted after the Stream Finance loss.
7	Falcon Finance	Universal-collateral synthetic dollar.	Both in Stablecoin (Synthetic Yield-Bearing).	Universal collateral model — accepts BTC, ETH, SOL, BNB, altcoins and yield-bearing tokens as collateral for synthetic USDf.