Cap is one of the cooler DeFi protocols that’s launched recently 1. Users deposit $USDC, receive $cUSD 2. Borrowers get unsecured credit access to that USDC 3. Borrowers are underwritten by @eigenlayer restakers (@ether_fi, @RenzoProtocol) If a borrower defaults, capital is repaid by restakers cUSD holders are protected (good decentralized stablecoin) Restakers take a cut of yields (good for $ETHFI, $RENZO holders) Borrowers get unsecured credit Neat!