Stablecoin protocol Cap will launch an ICO on Uniswap, presenting new opportunities behind a $150 million valuation.

The stablecoin protocol Cap is set to conduct its initial token offering on Uniswap, marking an important recent development in the stablecoin sector. According to the latest news, Cap will launch its ICO on February 9th, with 10% of the total supply allocated for sale, and an initial FDV set at $150 million. This issuance adopts a phased sales mechanism, covering registration, pre-sale, priority bidding, and regular bidding stages, reflecting the project’s considerations for participant stratification and risk management.

Carefully Designed ICO Mechanism

Cap’s sales process is divided into four stages over a total period of 16 days:

This design is straightforward: it provides early supporters (Caps holders, strategic partners, Frontier program participants) with clear time and price advantages, while reserving ample participation windows for the public. The whitelist mechanism ensures core supporters can prioritize token acquisition, reducing issuance risks.

Triple Identity of Whitelist Rights

Cap’s whitelist includes three types of addresses:

• Caps Holders: Users already holding Cap stablecoins, rewarding ecosystem participants
• Strategic Partners: Institutions or projects collaborating with Cap
• Frontier Program Participants: Automatically qualify for whitelist access and can bid early

This design clearly defines participant roles, avoiding chaos from first-come-first-served arrangements.

Funding Scale and Its Position in the Stablecoin Sector

An initial FDV of $150 million is a relatively moderate valuation. Considering that the stablecoin sector already includes leading projects like USDT and USDC, new stablecoin projects need to differentiate themselves to gain market recognition. Cap’s chosen valuation level avoids overfunding risks and provides investors with reasonable entry points.

New Opportunities in the Stablecoin Sector

According to relevant information, over $3 billion is already locked in RWA (Real World Asset) DeFi ecosystems. As infrastructure for RWA, stablecoins are becoming increasingly important. As a new player in the stablecoin protocol space, Cap’s entry coincides with the rapid development phase of this sector.

The core value of stablecoins lies not only in price stability but also in their ability to serve as liquidity hubs within the RWA ecosystem. From this perspective, launching on Uniswap makes sense—being the largest DEX, it offers the strongest liquidity and the broadest user base, providing an optimal market environment for stablecoins.

Noteworthy Details

It is important to note that this ICO will not immediately trigger token issuance; the specific date of the TGE (Token Generation Event) has not yet been finalized. This means that even if you successfully participate in the ICO and receive tokens, the timing of their distribution remains uncertain. This cautious approach is often taken by project teams to ensure all preparations are complete, but participants should have appropriate expectations.

Additionally, the 7-day KYC verification period is mandatory for all participants, reflecting the importance of compliance in stablecoin projects. Since stablecoins involve fund transfers and cross-border payments, regulatory compliance is key to the project’s long-term operation.

Summary

Cap’s ICO exemplifies the current development stage of the stablecoin sector: transitioning from rapid growth to refined operations. Through phased sales, whitelist mechanisms, mandatory KYC, and other designs, Cap is both raising funds and screening and educating market participants. The $150 million valuation provides a reasonable starting point for this new project, and amid the rapid expansion of the RWA ecosystem, opportunities in the stablecoin sector are indeed worth watching. However, participants should understand that ICO participation does not equate to immediate token receipt, and the uncertainty of the TGE timing is one of the risks to be borne.