Cap App

find another to farm

Pendle tokens are strictly defined within the underlying token. in the router every buy of YT or PT mints both from cUSD keeps one and dumps the other. the YTs bet on the yield the underlying token produces and pay the PTs to pass on that yield. now Cap essentially said the underlying cUSD in Pendle was worth 10% APR while normal cUSD was worth 0. the advertised bonus for Pendle was 2x on points (20x vs 10x). they ended up paying out infinity x for Pendle, despite that the implied APR would have been 0 if the participants had known the points are worth nothing. (with the arbitrary qualification that those who minted both and those who kept the YT portion of the LP received nothing )

Hello

Well said.

Hello everyone. Happy to be here.

Just two short suggestions: 1. There’s no reason to restrict YT claims to 3 months. This amount should be fully allocated to your goal of reimbursing losses. Having said that, it doesn’t make sense to essentially burn it, so consider simply extending it to 1 year. 2. Homestead ends next week, but in light of the suprise of Frontier after several months of silence, and Cap’s stated commitment to better communication, I strongly believe it would be prudent to make intentions known now. If it’s negative news, revealing it now will be a lot better than waiting a week (or month) or two just to give everyone another gut-punch. Conversely, if it’s positive news, revealing it now is likely to reduce anger and give people something to look forward to.

I believe Ben mentioned that they're not allowed to mention it before the campaign ends, so yeah, we kinda have to wait until then

Even i suggested the same... homestead needs quicker response right after its conclusion, not like the previous one where users have to wait so many months and at the end everyone got cooked.

Factually cUSD depositors lost 0.1% minting fee, in total a 6-figure number across all users.

👌

Part of "repairing trust with a track record" is better communication. And better communication would be to quantify what "not allowed" means. Does it somehow have legal implications (what/why?); is it a stipulation of their raise? Some other reason? Even if there is a good reason why it can't be revealed right this moment, setting expectations on when they intend to do so (the day it ends? A week later? a month?) is still better than "not allowed. bye". Transparency is the bedrock of crypto.

Agree with this take, better to communicate this asap

Guys. By now it looks certain there won't be a new PT pool in Pendle once the 23rd July expiry matures. Why not? What's the thought process and reasoning behind not offering a new PT pool with a longer maturity for cUSD and STCUSD?

We want to focus on certainty when it comes to our incentives, so we avoid miscommunication. If users want yield at Cap, we have our stcUSD product which has been performing well

Thank you. This means we just have to hold stcUSD to get the yield, since it's a non rebasing yield token? Is there anything else the holders are expected to do?

yes - and nothing else. Users may choose to use stcUSD in the many platforms that integrate it. We’re on Aave, Morpho, and many other apps.

I'm aware of Morpho but I don't see any cap products in aave. If you dont mind, can you please send a link

it’s on megaeth

Thank you. I see it

Hello

wen binance

Hey, any response from the team here?

Appreciate the effort that went into this. Everything raised here is covered in Ben's statement and the published methodology: the scope of the no-loss approach, and the wallet disclosure. We don't have anything to add beyond that, and we won't be re-answering these points individually going forward. We are putting our heads down and focusing on shipping from here.