/biz/ - Business & Finance

>Cap is a decentralized KYC-less trading platform where you can trade synthetics of any crypto (BTC, LINK, RSR) or traditional asset (TSLA, AAPL, AMZN) up to 100x leverage. The contracts can only be changed via governance, which means they can't be shut down by a regulator (think Uniswap-like Bitmex). The client is hosted on IPFS and linked to an ENS domain.
>Every time a trader on the platform loses, excess revenue from the Treasury gets used for buyback, which creates constant Cap buying pressure.
There's a high probability that Cap will replace Bitmex as the default margin trading platform in the near future, largely because no KYC means access to everyone who didn't have it before + less friction in starting and operating an account. You just need DAI in your metamask wallet and that's it.

There are ~20 VCs in the TG/twitter keeping a close eye on it: Remi Tetot @ Real Vision, Arjun Balaji @ Paradigm, Tarun Chitra @ Gauntlet Network, Brian Lee @ FTX @ Alameda Research, Galen Law-Kun @ PwC Crypto Team, Austin Barack @ CoinFund, Eric Arsenault @ Metacartel, Igor Doganov @ Blockrock, Marco Wutzer @ SRI, Mike @ Block42, Andrew K @ Mechanism Capital etc.
Why are VCs interested? https://multicoin.capital/2020/09/08/trade-offs-in-the-decentralized-bitmex-space/
>We believe that the largest and most lucrative opportunity in DeFi is to create a protocol that allows anyone in the world to trade any asset.

The founders have 15 years of big tech SW engineering + 8 years of market making experience in tradfinance + crypto.

>Cap Protocol (CAP) $15M full mcap
Perpetual Protocol (PERP) $650M full mcap
Injective Protocol (INJ) $600M full mcap
Synthetix (SNX) $3B full mcap

MAINNET HAS BEEN LAUNCHED AS A SOFT LAUNCH

You can now long/short the following assets: BTC, ETH, LINK, AAPL, FB, NFLX, TSLA, SP500, GOOG
You can find it here: cap.eth.link or https://app.cap.uly.dev/

https://www.dextools.io/app/uniswap/pair-explorer/0xc169f0eb31403c0bcc43dc9feca648a79fafc0f4

https://github.com/capfina

Theme Music
https://www.youtube.com/watch?v=AjPau5QYtYs

What is CAP?

Cap is a protocol, that will allow for the leveraged trading of derivatives, basically anything with a reliable price feed. CAP will essentially become a yeild earning token, so it's like buying a fraction of a rental property, or a fraction of a bank. Here you can own a fraction of the revenue yielded from the statistical underperformance of traders as a whole over time. (Like owning a part of a trading brokerage), so whatever amount you can afford to own, your earned share will still be the same proportianally to someone who owns more.

Who's the competition?
There are many projects attempting to provide synthetic or derivative exposure, but none which have been able to do it end to end decentralized like Cap is doing it. It will truely be a game changer

Why I know it's undervalued and will 10x?

Lets compare the evaluation to some of the competitors:
1) Cap Protocol (CAP) - $14.2M fully diluted market cap
2) Linear Protocol (LINA) - $89M fully diluted market cap
3) SynLev (SYN) - $46M fully diluted market cap
4) Synthetix (SNX) $998M fully diluted market cap

The founders have been market making in crypto and traditional markets for over 7 years. They keep a level of anonymity, however, the team is the community.

Last major update?

The product is feature complete. The final code will be open sourced along with documentation likely in the next few days. After this point in time, the project would be deployable, however, it is in the best interest to wait until Audits are complete before launch.

Where can I try it out?

You can currently test out the protocol on Ropsten. Here's the link to the IPFS hosted app. Just grab some test ETH, claim 10k test DAI from the faucet and you can long/short BTC, ETH, AAPL and TSLA

https://bafybeia32lofa4vemdr7cvhvuoamq3x4k3ypicu2rtsoatpl5rvtyk76qu.ipfs.dweb.link/

>VC's still in the TG group
>documentation/audit planned (they're using a top tier auditing firm so think quantstamp, Consensys, Gauntlet)
>Alex Chai using the power of autism to unintentionally FUD the price down to $106
>Governance model is starting off as a buyback and make model. There will be a CAP treasury which will be funded by buybacks using the excess CLP funds. This could be used for rewards, dividends, marketing, dev funding, etc

What is CAP?

A fully decentralized protocol that will launch a synthetics/perpetuals trading app tentatively by the end of December. You can long/short crypto and stocks from the safety of Metamask and with DAI. Gas fees will be minimal and there's no trading fees. They are planning on making other products like lending, credit, an exchange, and an oracle system later down the line.

Who are they?
Anon devs but have delivered for the last 5 months. Burned 9.88M CAP to reduce the supply (that's $1B worth at current prices). Public github, blog, etc. Ex-GAFA engineers (google,amazon, facebook, apple)

VCs?

Yes, block42, Mikhail Dobrokhvlov, a dude from Compound, our boy Pascal from Jarvis, Remi Tetot from Real Vision/GMI are all in the chat plus many others

Dumb whale just sold 300+ CAP and bought BASE but the price is bouncing back

Louboutin posted lewd pictures and is unequivocally btfo

>Still $14M MC
>SNX is $702M MC
>Mainnet soon
>VCs doing research
>Louboutin btfo

Will it succeed? It's looking to take a piece of the $36 trillion derivatives market. Intelligent answers/opinions and trips get a carving on the wall of the citadel

What does it mean?