About Airdrop
Cap is a stablecoin protocol on Ethereum mainnet, launched on August 18, 2025, to deliver optimized yield through two products: cUSD, a digital dollar redeemable for stablecoins like USDC, and stcUSD, a yield-bearing version leveraging Aave and institutional operators. It secured $11M from Franklin Templeton and Triton Capital, with institutional stakeholders like IMC Trading and Susquehanna Crypto. For example, users mint cUSD with USDC, and idle assets earn base yield via Aave, with stcUSD listed on Pendle and priced by Chainlink oracles. Cap’s non-custodial design ensures user control, while overcollateralized ETH and BTC derivatives via EigenLayer and Symbiotic secure loans.
The Frontier Program, spanning up to five months, rewards early adopters with Caps points for ecosystem contributions. With Ethereum’s $44.16B 24-hour trading volume and $97B DeFi TVL in August 2025, Cap taps into a robust market, offering a seamless way to earn yield and rewards.
The Cap Frontier Program, active until January 2026 or until internal metrics are met, awards Caps points for holding cUSD and lending to stcUSD markets. Epoch 1 (August 18–31, 2025) offers boosted rates for early cUSD minters, decaying over time. Epoch 2, starting August 25, grants 10 points per $1 of cUSD used in partner pools (e.g., Morpho, Euler). Points track contributions and unlock perks like team access and events. Moreover, consistent participation maximizes rewards, with no minimum threshold. Users may convert points to tokens at TGE, per X sentiment.
Follow our complete and simple step-by-step guide to participate!
Step-by-step guide
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Visit https://cap.app/swap and connect your Ethereum wallet.
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Swap USDC for cUSD to start earning Caps points daily.
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Hold cUSD for boosted points in Epoch 1 (ends August 31).
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Join Epoch 2 by using cUSD in partner pools for 10 points per $1.
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Lend USDC, USDS, or USDe to stcUSD markets on Morpho or Euler.
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Track Caps in the app’s top-right navbar.