CAP: A New Stablecoin Frontier
JPMorgan projects that yield-bearing stablecoins will eventually occupy up to 50% of the stablecoin sector. We have a closer look at CAP's cUSD - a new yield-bearing stablecoin that places a greater emphasis on decentralization for retail’s benefit.
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TLDR
- Yield-bearing stablecoins are on the rise, as JPMorgan predicts they could reach 50% of stablecoin market share from just 6% today.
- Ethena’s USDe is leading this trend with a supply of $4.9B, demonstrating strong demand for yield without complex DeFi strategies.
- CAP is a new contender, working on cUSD — a yield-bearing stablecoin minted 1:1 with USDT or USDC, with an architecture emphasizing decentralization and smart contract governance.
- Three roles power the CAP ecosystem: minters, operators, and restakers.
- CAP's structure does not come without risks, which must be considered if choosing cUSD as part of your yield strategy.
