CRYPTO MARKET INTELLIGENCE / ASSET DOSSIER

Cap.

cap · coingecko:cap-4

EVIDENCE · NOT A RECOMMENDATION
This dossier explains why the asset surfaced, what the stored evidence says, what changed, and which limitations remain. Deterministic signals are research questions, not investment conclusions.
Price$0.073351
Market cap$114.41M
Active signals3
Total / circulating6.41×
Longest active streak6
Snapshots compared6

Why it surfaced

peer valuation difference

The valuation multiple differs materially from the eligible peer median

Current streak: 6 snapshots · triggered 6/6 observed snapshots

fundamental deterioration

At least one available fundamental deteriorated beyond the configured threshold

Current streak: 1 snapshot · triggered 3/6 observed snapshots

high dilution

Total supply is high relative to circulating supply

Current streak: 6 snapshots · triggered 6/6 observed snapshots

What changed

peer valuation difference
continuing · streak 6 · 6/6 snapshots
fundamental deterioration
new · streak 1 · 3/6 snapshots
high dilution
continuing · streak 6 · 6/6 snapshots

Latest fundamental observations

MetricPeriodValueObserved
fees24h$14,188.002026-10-18T04:35:58.074Z
fees30d$494,295.002026-10-18T04:35:58.074Z
fees7d$93,537.002026-10-18T04:35:58.074Z
feesdaily$13,348.002026-09-30T00:00:00.000Z
holders revenue24h$0.002026-10-18T04:36:12.168Z
holders revenue30d$0.002026-10-18T04:36:12.168Z
holders revenue7d$0.002026-10-18T04:36:12.168Z
holders revenuedaily$0.002026-09-30T00:00:00.000Z
revenue24h$8.842026-10-18T04:36:00.033Z
revenue30d$419.182026-10-18T04:36:00.033Z
revenue7d$78.812026-10-18T04:36:00.033Z
revenuedaily$14.762026-09-30T00:00:00.000Z
tvlpoint in time$224.35M2026-10-18T04:35:46.584Z

Historical changes

MetricWindowChangeBoundary
fees usd:24h7d-7.30%2026-10-11T04:49:24.915Z → 2026-10-18T04:35:58.074Z
fees usd:30d7d-6.34%2026-10-11T04:49:24.915Z → 2026-10-18T04:35:58.074Z
fees usd:7d7d-20.67%2026-10-11T04:49:24.915Z → 2026-10-18T04:35:58.074Z
fees usd:daily7d-16.15%2026-09-23T00:00:00.000Z → 2026-09-30T00:00:00.000Z
market cap usd:point in time7d-18.44%2026-10-11T03:38:51.000Z → 2026-10-18T03:31:49.000Z
revenue usd:24h7d-32.31%2026-10-11T04:49:28.176Z → 2026-10-18T04:36:00.033Z
revenue usd:30d7d-0.33%2026-10-11T04:49:28.176Z → 2026-10-18T04:36:00.033Z
revenue usd:7d7d-7.76%2026-10-11T04:49:28.176Z → 2026-10-18T04:36:00.033Z
revenue usd:daily7d28.01%2026-09-23T00:00:00.000Z → 2026-09-30T00:00:00.000Z
tvl usd:point in time7d-17.40%2026-10-11T04:49:10.103Z → 2026-10-18T04:35:46.584Z
fees usd:daily30d-32.56%2026-08-31T00:00:00.000Z → 2026-09-30T00:00:00.000Z
market cap usd:point in time30d33.09%2026-09-18T00:00:00.000Z → 2026-10-18T03:31:49.000Z
revenue usd:daily30d-15.46%2026-08-31T00:00:00.000Z → 2026-09-30T00:00:00.000Z
tvl usd:point in time30d-31.05%2026-09-18T00:00:00.000Z → 2026-10-18T04:35:46.584Z
fees usd:daily90d17.95%2026-07-02T00:00:00.000Z → 2026-09-30T00:00:00.000Z
market cap usd:point in time90d296.68%2026-07-20T00:00:00.000Z → 2026-10-18T03:31:49.000Z
revenue usd:daily90d54.55%2026-07-02T00:00:00.000Z → 2026-09-30T00:00:00.000Z
tvl usd:point in time90d-12.96%2026-07-20T00:00:00.000Z → 2026-10-18T04:35:46.584Z
fees usd:daily180d-6.23%2026-04-03T00:00:00.000Z → 2026-09-30T00:00:00.000Z
revenue usd:daily180d2.64%2026-04-03T00:00:00.000Z → 2026-09-30T00:00:00.000Z
tvl usd:point in time180d-32.19%2026-04-21T00:00:00.000Z → 2026-10-18T04:35:46.584Z

Market snapshot

Circulating supply
1.56B
Total supply
10B
Max supply
10B
Provider updated
2026-10-18T03:31:49.000Z

Evidence coverage

Verified/provider links
1
Stored fundamental observations
1,743
Calculated history rows
21
Signal comparison
prior snapshot

Evidence synthesis

Generate or open a cached AI research brief constrained to this dossier's stored evidence, calculations, and limitations.

Open AI research brief

Rule evaluations

revenue growth declining multiple · included · no signal

Eligible, but configured thresholds were not jointly met

Limits: Revenue multiple uses 24-hour revenue annualized consistently at both endpoints

Inputs and calculation
{
  "inputs": {
    "revenue": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:6579:revenue:1789689600",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 11.2
      },
      "end": {
        "id": "ea9bc80d-ba5e-4ad0-98fd-0db73fa06c1a:17616",
        "at": "2026-10-18T04:36:00.033Z",
        "value": 8.84
      },
      "percent": -21.07142857142857,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "marketCap": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:coingecko:cap-4:1789689600000",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 85960247.80580519
      },
      "end": {
        "id": "ccd4247e-2e4f-4bb6-9d14-0cf345583e2b",
        "at": "2026-10-18T03:31:49.000Z",
        "value": 114405654
      },
      "percent": 33.09134968812153,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "startMultiple": 7675022.125518321,
    "endMultiple": 12941816.063348416,
    "multipleChange": 68.62252449173766
  },
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

activity growth stagnant market cap · included · no signal

Eligible, but configured thresholds were not jointly met

Inputs and calculation
{
  "inputs": {
    "activity": {
      "metric": "fees_usd",
      "result": {
        "status": "calculated",
        "windowDays": 30,
        "start": {
          "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:6579:fees:1789689600",
          "at": "2026-09-18T00:00:00.000Z",
          "value": 13178
        },
        "end": {
          "id": "ea9bc80d-ba5e-4ad0-98fd-0db73fa06c1a:10041",
          "at": "2026-10-18T04:35:58.074Z",
          "value": 14188
        },
        "percent": 7.6642889664592495,
        "definition": "(end - start) / abs(start) * 100 over 30 days"
      }
    },
    "marketCap": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:coingecko:cap-4:1789689600000",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 85960247.80580519
      },
      "end": {
        "id": "ccd4247e-2e4f-4bb6-9d14-0cf345583e2b",
        "at": "2026-10-18T03:31:49.000Z",
        "value": 114405654
      },
      "percent": 33.09134968812153,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "activityChangePercent": 7.6642889664592495,
    "marketCapChangePercent": 33.09134968812153
  },
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

improving tokenholder value capture · excluded · no signal

Starting value is zero; percentage change is undefined

Limits: Requires holders revenue and fees at both boundaries

Inputs and calculation
{
  "inputs": {},
  "calculation": null,
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

peer valuation difference · included · signal

The valuation multiple differs materially from the eligible peer median

Limits: A difference is not evidence of mispricing; protocol economics may not be comparable

Inputs and calculation
{
  "inputs": {
    "currentCap": 114405654,
    "latestRevenue": 8.84,
    "peerMedian": 34.55381309893715
  },
  "calculation": {
    "annualizedRevenueMultiple": 35457.03031054361,
    "peerMultipleRatio": 1026.1394367394505
  },
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

fundamental deterioration · included · signal

At least one available fundamental deteriorated beyond the configured threshold

Inputs and calculation
{
  "inputs": {
    "fees": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:6579:fees:1789689600",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 13178
      },
      "end": {
        "id": "ea9bc80d-ba5e-4ad0-98fd-0db73fa06c1a:10041",
        "at": "2026-10-18T04:35:58.074Z",
        "value": 14188
      },
      "percent": 7.6642889664592495,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "revenue": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:6579:revenue:1789689600",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 11.2
      },
      "end": {
        "id": "ea9bc80d-ba5e-4ad0-98fd-0db73fa06c1a:17616",
        "at": "2026-10-18T04:36:00.033Z",
        "value": 8.84
      },
      "percent": -21.07142857142857,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    },
    "tvl": {
      "status": "calculated",
      "windowDays": 30,
      "start": {
        "id": "4b4382a3-87e8-4d77-9ce7-f5b4fbc78ca0:6579:tvl:1789689600",
        "at": "2026-09-18T00:00:00.000Z",
        "value": 325384821
      },
      "end": {
        "id": "ea9bc80d-ba5e-4ad0-98fd-0db73fa06c1a:158",
        "at": "2026-10-18T04:35:46.584Z",
        "value": 224350068.92797312
      },
      "percent": -31.05084980962492,
      "definition": "(end - start) / abs(start) * 100 over 30 days"
    }
  },
  "calculation": {
    "worstChangePercent": -31.05084980962492
  },
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

high dilution · included · signal

Total supply is high relative to circulating supply

Limits: Supply fields are provider-reported and do not describe unlock timing

Inputs and calculation
{
  "inputs": {
    "circulatingSupply": 1560000000,
    "totalSupply": 10000000000
  },
  "calculation": {
    "totalToCirculatingRatio": 6.410256410256411
  },
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

data quality investigation · included · no signal

No provider identity conflict detected

Inputs and calculation
{
  "inputs": {
    "identityConflict": false
  },
  "calculation": null,
  "evaluatedAt": "2026-10-18T04:35:46.584Z"
}

Provenance and raw evidence

Classification evidence
[
  {
    "assetId": "coingecko:cap-4",
    "kind": "sector",
    "value": "lending_borrowing",
    "status": "classified",
    "reason": "Canonical mapping from DeFiLlama category Lending",
    "sourceProvider": "defillama",
    "sourceRecord": "6579",
    "observedAt": "2026-10-18T04:35:46.584Z"
  },
  {
    "assetId": "coingecko:cap-4",
    "kind": "asset_type",
    "value": "protocol_token",
    "status": "classified",
    "reason": "Canonical type mapping from DeFiLlama category Lending",
    "sourceProvider": "defillama",
    "sourceRecord": "6579",
    "observedAt": "2026-10-18T04:35:46.584Z"
  }
]
Identity relationships
[
  {
    "assetId": "coingecko:cap-4",
    "protocolId": "6579",
    "protocolSlug": "cap",
    "method": "gecko_id_and_chain_contract",
    "evidence": "DeFiLlama gecko_id=cap-4; DeFiLlama address=0x99991c6aabba5a096f24f250b73580f5179b9999; CoinGecko platforms.ethereum=0x99991c6aabba5a096f24f250b73580f5179b9999",
    "status": "verified_provider_relationship"
  }
]
Research statuses
[
  {
    "assetId": "coingecko:cap-4",
    "observedAt": "2026-10-18T04:35:46.584Z",
    "status": "analyzable",
    "method": "global",
    "reason": "At least one deterministic screening method is eligible"
  },
  {
    "assetId": "coingecko:cap-4",
    "observedAt": "2026-10-18T04:35:46.584Z",
    "status": "excluded_from_method",
    "method": "improving_tokenholder_value_capture",
    "reason": "Starting value is zero; percentage change is undefined"
  },
  {
    "assetId": "coingecko:cap-4",
    "observedAt": "2026-10-18T04:35:46.584Z",
    "status": "requires_manual_investigation",
    "method": "global",
    "reason": "At least one deterministic research signal triggered"
  }
]
Human review decisions
[]
Full fundamental evidence
[
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:120",
    "protocolId": "6579",
    "metric": "tvl_usd",
    "period": "point_in_time",
    "observedAt": "2026-09-22T21:51:30.762Z",
    "value": 349076692.2333658,
    "unit": "USD",
    "definition": "DeFiLlama protocol TVL at collection time",
    "sourceUrl": "https://api.llama.fi/protocols",
    "methodology": null
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10667",
    "protocolId": "6579",
    "metric": "fees_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 16561,
    "unit": "USD",
    "definition": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10668",
    "protocolId": "6579",
    "metric": "fees_usd",
    "period": "7d",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 103207,
    "unit": "USD",
    "definition": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:10669",
    "protocolId": "6579",
    "metric": "fees_usd",
    "period": "30d",
    "observedAt": "2026-09-22T21:51:32.324Z",
    "value": 492541,
    "unit": "USD",
    "definition": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyFees",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17429",
    "protocolId": "6579",
    "metric": "revenue_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 15.35,
    "unit": "USD",
    "definition": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17430",
    "protocolId": "6579",
    "metric": "revenue_usd",
    "period": "7d",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 83.53999999999999,
    "unit": "USD",
    "definition": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:17431",
    "protocolId": "6579",
    "metric": "revenue_usd",
    "period": "30d",
    "observedAt": "2026-09-22T21:51:34.223Z",
    "value": 470.8,
    "unit": "USD",
    "definition": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:22255",
    "protocolId": "6579",
    "metric": "holders_revenue_usd",
    "period": "24h",
    "observedAt": "2026-09-22T21:51:36.166Z",
    "value": 0,
    "unit": "USD",
    "definition": "DeFiLlama holders_revenue_usd; definition is protocol-adapter specific and was not supplied",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyHoldersRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:22256",
    "protocolId": "6579",
    "metric": "holders_revenue_usd",
    "period": "7d",
    "observedAt": "2026-09-22T21:51:36.166Z",
    "value": 0,
    "unit": "USD",
    "definition": "DeFiLlama holders_revenue_usd; definition is protocol-adapter specific and was not supplied",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyHoldersRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
      "Fees": "All fees paid by users for either borrowing (borrow fees + restaker fees) or minting (insurance fund fees).",
      "Revenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "ProtocolRevenue": "Share of borrow fees for protocol and 0.1% of mint amount paid as fees for cUSD.",
      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
    }
  },
  {
    "id": "28ba3c2c-c546-48fa-b174-122aa3718807:22257",
    "protocolId": "6579",
    "metric": "holders_revenue_usd",
    "period": "30d",
    "observedAt": "2026-09-22T21:51:36.166Z",
    "value": 0,
    "unit": "USD",
    "definition": "DeFiLlama holders_revenue_usd; definition is protocol-adapter specific and was not supplied",
    "sourceUrl": "https://api.llama.fi/overview/fees?excludeTotalDataChart=true&excludeTotalDataChartBreakdown=true&dataType=dailyHoldersRevenue",
    "methodology": {
      "UserFees": "Interest paid by borrowers",
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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      "SupplySideRevenue": "Borrow fees distributed to stakers and restaker fees are distributed to delegators."
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