Cap

Cap is built by Cap Labs. The contracts are public and the documentation lists audits by Zellic, Trail of Bits, Spearbit, Electisec, Recon, Sherlock and Certora in 2025 and an Octane audit of the token in March 2026, plus a Sherlock bug bounty of up to $1 million. The token launched only in June 2026, and data on the team itself is insufficient in the facts collected.

• Cap docs: Audits
• Cap: official website

DefiLlama records an $8 million seed round in April 2025 led by Franklin Templeton and Triton Capital, with trading firms such as GSR, Flow Traders and IMC among the investors. The June 2026 public auction drew $16.4 million in commitments from 1,002 bids, according to The Defiant. Flow Traders also uses the protocol as a borrower. Private investors and the team may hold up to 40% of supply.

• DefiLlama: Cap
• The Defiant: Cap Labs CAP Token Auction Closes at $106 Million FDV With 5.5x Oversubscription
• Cap blog: Flow Traders Uses Cap To Access Onchain Credit via Lombard
• Cap docs: Tokenomics

Supply is fixed at 10 billion CAP, and 1.56 billion circulated on 2 October 2026. Team, private investor and community sale allocations start unlocking 12 months after launch: 25% at the one-year mark, then monthly over 3 years. The documentation promises only discretionary token repurchases from revenue, and DefiLlama showed no revenue going to token holders in the 30 days to 2 October 2026.

• Cap docs: Tokenomics
• CoinMarketCap: Cap
• DefiLlama: Cap

On 2 October 2026 DefiLlama showed about $277.0 million locked in Cap and about $57.4 million borrowed. Fees over the previous 30 days were about $479,000, but almost all of it went to lenders and underwriters: protocol revenue was about $510. Named institutions such as Flow Traders borrow through the protocol.

• DefiLlama: Cap
• Cap blog: Flow Traders Uses Cap To Access Onchain Credit via Lombard