Tokenomics

Overview

$CAP is the governance and utility token of Cap with a fixed supply of 10 billion tokens. Token holders can exercise decision-making rights over core protocol parameters. Revenue generated will be used to conduct discretionary buybacks

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Governance Rights

$CAP holders vote on the following protocol decisions:

1. Adding/removing reserve assets for cUSD

2. Adding/removing collateral assets eligible for underwriting

3. Adjusting liquidation thresholds on approved collateral

4. Adjusting the minting fee on cUSD

5. Whitelisting institutions as borrowers in the private credit marketplace

6. Setting maximum coverage limits for financial guarantee surety exposure

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Token Allocation

Allocation	% of Supply
Ecosystem & Community	47.97%
Private Investors	≤20.00%
Project Team	≤20.00%
ICO	5.00%
Private TVL Deals	3.75%
Echo Community Sale	3.28%

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Supply Schedule

The circulating supply at TGE consists of the ICO allocation (5%) and 8% from the Ecosystem & Community allocation, summing up to roughly 13% of total supply.

Cliff-gated allocations (Private Investors, Project Team, Echo Community Sale) commence unlocking 12 months post-TGE.