Cap USD

Cap USD (CUSD) is a dollar-denominated stablecoin issued on the Ethereum blockchain and usable across other networks, designed to maintain a stable value of one US dollar. It is intended for anyone who wants to hold or transact in a digital form of the dollar without the price volatility typical of other digital assets. The protocol also offers stcUSD, a savings product created by staking CUSD, which generates yield through an autonomous layer of operators while claiming to cover downside risk for holders.

CUSD is backed on a one-to-one basis by a reserve of established regulated stablecoins — including USDC, USDT, pyUSD, BUIDL, and BENJI — and can be redeemed directly for any of those reserve assets. The token lives on the Ethereum blockchain and the project is also part of the MegaETH ecosystem; no proprietary consensus algorithm or block time is recorded in the available data. Yield on stcUSD is produced by external operators who participate based on the protocol's current hurdle rate, with losses on yield generation described as covered by the protocol itself.

The data provided does not include a recorded fee stream, revenue figures, or information about who pays or collects fees within the Cap protocol, so no fee-based measures are available on this page. The circulating stablecoin supply stands at approximately 90,577,144 CUSD at the point in time captured, and that supply grew by roughly 21.6 percent over the trailing 30 days. The fully diluted value equals the market capitalisation, reflecting a ratio of 1.0, and there is no maximum supply recorded, meaning the token is minted against reserve deposits without a hard cap.