DeFi
Apr 8, 2025
MegaETH: How to Mint Free cUSD on Cap Protocol's Testnet
Participate in Capmoney MegaETH Testnet dApp
Cap Protocol just announced their raise and has gone live on MegaETH's testnet. This is your chance to mint free testnet cUSD and potentially stay ready for mainnet launch and the upcoming TGE once it's announced.
What makes this exciting? Cap has raised $8M from notable investors like FTDA and Triton, making it one of the most well-funded applications on MegaETH. Getting in early on testnet activities for highly-backed projects helps you enrich your on-chain footprint and boosts your wallet rankings for ecosystem rewards
What is Cap Protocol?
Cap is the first stablecoin protocol that outsources yield generation in a programmatically covered manner. Unlike traditional DeFi protocols that rely on self-consuming economic designs, Cap breaks this cycle by:
Tapping into exogenous yield sources previously only accessible to wealthy insiders
Providing perpetual competitive yield regardless of market conditions
Offering risk coverage through shared security marketplaces
Creating redeemable stablecoins in various denominations (USD, BTC, ETH)
The protocol leverages a competitive network of agents executing yield-based strategies that adapt to market conditions, ensuring scalability and stability. Cap is also pioneering a new use case for shared security networks like EigenLayer to shield users from the risks associated with yield generation.
Recent Developments
Cap recently secured $8M in funding from FTDA, Triton, and other investors, highlighting strong institutional confidence in their approach to stablecoin innovation.
How to Mint Free cUSD on Cap Protocol (Step-by-Step)
Visit the testnet page
Go to https://cap.app/testnet
Connect your wallet
Click "Connect Wallet" in the top-right corner
Select your wallet provider (Leap Wallet recommended for seamless experience)
Approve the connection
Enter your wallet address
Input your wallet address in the designated field
Mint testnet cUSD
Click the "Mint" button
Confirm the transaction
You'll receive 1,000 testnet cUSD per mint
Optional: Connect your X (Twitter) account
Click on your wallet in the top-right corner
Select "Link Twitter Account."
Complete the authentication process
Note: You can mint multiple times if needed to get more testnet cUSD.
Additional Details for Guide
Time commitment: Less than 5 minutes
Cost involved: $0 (completely free)
Project age: New, but well-funded ($8M raised)
Risk assessment: Low (testnet activity only)
Eligibility: Anyone with a compatible wallet
While specific rewards haven't been announced yet, participating in testnet activities for well-funded protocols like Cap often positions users for:
Early access to new features
Community recognition and possible incentives provided by projects
Cap will soon launch on Ethereum and MegaETH mainnet, which could open opportunities for a "2-in-1" stable pool.
Official Links & Resources
Cap Protocol Testnet: https://cap.app/testnet
Twitter: https://x.com/capmoney_
Website: https://caplabs.io/
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FAQs
Q: What is Cap Protocol?
A: Cap is a stablecoin protocol that outsources yield generation in a programmatically covered manner, offering competitive yield without exposing users to the risks typically associated with yield farming.
Q: Is minting testnet cUSD completely free?
A: Yes, minting testnet cUSD is completely free. You can mint 1,000 testnet cUSD per transaction and repeat as needed.
Q: When will Cap launch on mainnet?
A: Cap has announced that mainnet launch on Ethereum and MegaETH is "Coming soon," but no specific date has been shared yet.
Q: Do I need to connect my Twitter/X account?
A: Connecting your Twitter account is optional but may be beneficial for future community engagement.
