CAP, a performance stable protocol, shared on Monday that he has raised $ 11 million in renowned financial institutions, including Franklin Templeton and Capital Triton.
Total financing, announced at the close of a recent seed round of $ 8 million, will be used to develop the CAP stable engine, which is scheduled to launch at the end of this year. Cap raised $ 3 million in a previous financing round.
Stablecoins are a type of cryptocurrency whose value is directly linked to another asset, such as the US dollar. The CAP system is built so that users can generate passive interest, or performance, in tokens.
CAP “Take advantage of a collective of operators with specialized skills in performance generation to democratize previously without exploiting performance,” Cap Labs explained in a press release.
“This performance is not based solely on crypto-national sources such as the arbitration of the financing rate and tokens agriculture, but also on the experience of traditional institutions such as HFT companies, private credit funds and other companies capable of capturing large-scale performance.”
According to the statement, CAP will give users the opportunity to obtain additional performance by restructuring protocols such as Eigenlayer. Resting protocols allow people to bet, or block, collateral to ensure blockchain protocols in exchange for rewards.
The CAP financing news arrives at a time when Stablecoins is becoming extremely popular, with the fidelity of the bank giant, the president of Liberty Financial of President Trump and the state of Wyoming sharing his intentions to create his own established nations, and the United States Congress focusing his efforts on approving the legislation of stable levels.
Read more: Stablecoin Market Cap has $ 200B, since the United States sees the industry that helps maintain the domain of the dollar
