It has been exactly 7 months since @capmoney_ launched, and our flywheel is now transitioning our platform to a sustainable user base Today, ~90% of Cap's TVL is from users that use Cap for its own merits 66% comes from financial guarantees that underwriters issue to cover institutional loans. These are mainly ETH and BTC holders looking for scalable yield. 24% comes from USD depositors, such as neobanks, retail users, and liquid funds, that earn ~5% from Cap's insured dollar product. They use Cap for yield, not incentives.