stcUSD vaults
About Staked Cap USD
stcUSD is the yield-bearing staking token of Cap protocol. Users deposit USDC or USDT to mint cUSD (cap USD) at a 1:1 ratio, then stake cUSD to receive stcUSD, which auto-compounds institutional yield sourced from Cap's decentralised credit marketplace.
stcUSD is issued by Cap, a covered-credit stablecoin protocol on Ethereum. The protocol's two tokens work in tandem: depositors receive cUSD (cap USD) at a 1:1 ratio by depositing whitelisted assets (USDC, USDT, tokenised money-market funds) into Cap's Vault, and then stake cUSD to receive stcUSD, which begins accruing yield automatically.
Yield accrues from three streams: idle reserve assets deployed on Aave and Morpho, interest spreads earned when institutional borrowers (banks, high-frequency trading firms, market makers) repay loans via Cap's Credit Engine, and auto-compounding of accrued rewards. A network of restakers underwrites operator credit risk, ensuring cUSD remains fully backed at all times and stcUSD principal is protected through on-chain financial guarantees.
Cap launched on Ethereum mainnet in August 2025 and grew to over $500 million TVL by early 2026, with over 80% of cUSD reserves deployed to Aave V3 Core. stcUSD is listed on CoinGecko and Cap is tracked on DefiLlama.
Filters
Display
Hide vaults
Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price |
|---|
Stay ahead with the best new vaults and essential DeFi updates.
Subscribe to Trading Strategy newsletter