{Onchain Identity}
cap.eth | One Name
Six Contracts.
A note on onchain identity
Prepared for the Cap team  ·  krok.dev  ·  ENS brokerage
{01} The Namespace
Opportunity

Six contracts.
Zero names.
One fix: cap.eth

Cap's protocol has six live onchain modules, Vault, Lender, Fee Auction, Delegation, Oracles, Access Controls. Every one of them is currently reachable only by a raw hex address. Every operator, delegator, integrator, and auditor who interacts with Cap does so against strings of characters that convey nothing.

Owning cap.eth resolves all of it. ENS subdomains under a parent name are free to create, one acquisition unlocks an entire named namespace for the protocol, permanently. And it extends further than contracts.

// Vault
vault.cap.eth
0xcCcc62962d17b8914c62D74FfB843d73B2a3cccC
Reserve assets, cUSD issuance, liquidity to Lender
// Lender
lender.cap.eth
0x15622c3dbbc5614E6DFa9446603c1779647f01FC
Borrowing, repayment, liquidation, interest calculations
// Staked cUSD
stake.cap.eth
0x88887bE419578051FF9F4eb6C858A951921D8888
stcUSD, yield-bearing savings, ERC-4626 vault
// Fee Auction
fees.cap.eth
0xa1a20aBdc873CF291c22Ce3C8968EC06277324D0
Protocol yield converted to cUSD via Dutch auction
// Delegation
delegate.cap.eth
0xF3E3Eae671000612CE3Fd15e1019154C1a4d693F
EigenLayer / Symbiotic shared security, slashing, rewards
// Decentralized Frontend
cap.eth.limo
IPFS contenthash → set once on cap.eth
A fully decentralized, censorship-resistant web presence. No DNS. No registrar. No takedown vector. cap.eth.limo resolves Cap's frontend directly from IPFS, accessible to anyone, permanently.
// Operators & partners GSR Markets Fasanara Amber Group Flow Traders Franklin Templeton BlackRock WisdomTree
{02} Why Now

The protocol is live.
The name layer isn't.

Cap launched on Ethereum mainnet in August 2025. It has since grown into one of the largest stablecoin platforms in DeFi, expanded to MegaETH, and onboarded institutional operators including GSR, Fasanara, Flow Traders, and Amber Group. The infrastructure is real. The credibility is established.

What hasn't moved: cap.eth still resolves to a third party with no connection to the protocol. Every milestone, token distribution, MegaETH growth, new institutional integrations, makes the naming gap more conspicuous and more expensive to close.

$11M
raised, Franklin Templeton, GSR, Flow Traders, Susquehanna, Nomura, IMC
6+
named onchain modules, all currently only reachable by hex address
∞
ENS subdomains available once cap.eth is owned, all free to create
{03}  ·  The UX Argument
Institutional participants in onchain finance should never have to verify a hex address. They shouldn't have to trust one either.

When a GSR operator routes funds to Cap's Lender contract, when a Morpho integrator references Cap's Vault, when a new delegator signs a Guarantor Agreement onchain, they all encounter an address. Today that address is 0x15622c3d...f01FC.

With cap.eth, it becomes lender.cap.eth. Verifiable, readable, and unambiguously Cap's. The same applies to every contract in the protocol, and to the frontend itself via cap.eth.limo.

This is not a UX preference. In institutional workflows, audit frameworks, and compliance processes, a named counterparty is a different category of entity than an anonymous string.

// Powered by
Contract Interaction
Ethereum
// Interacting with
lender.cap.eth
ENS Verified · Ethereum Mainnet
// Function
borrow(uint256 amount)
// Amount
50,000 cUSD
// Gas estimate
~$0.84  ·  ~0.00031 ETH
Reject
Confirm
Without
0x15622c3dbbc5614E6DFa9446603c1779647f01FC
With
lender.cap.eth
{04} What cap.eth
Enables

Every surface
where identity matters.

Cap's documentation states that "cUSD holder protections are enforced exclusively by code." The name layer is how that code becomes legible, to users, operators, auditors, and integrators who need to know what they're touching before they touch it.

{01} Operator Flows
GSR, Fasanara, Amber borrow from lender.cap.eth
Institutional operators taking unsecured USD loans interact with the Lender contract directly. A named address replaces hex in every internal treasury system, risk model, and audit trail they maintain.
{02} Delegator Agreements
Restakers route to delegate.cap.eth
EigenLayer and Symbiotic restakers signing Guarantor Agreements onchain currently sign against raw hex. A named delegation contract makes those agreements human-verifiable and compliance-friendly.
{03} Developer Integration
vault.cap.eth in every integration doc
Morpho, Aave, MegaETH, and any future integrator will reference Cap's contracts in their own documentation. Named subdomains reduce integration errors, phishing risk, and developer friction across the ecosystem.
{04} TradFi Counterparty Clarity
Franklin Templeton, BlackRock, WisdomTree
Traditional institutions integrating cUSD as reserve collateral operate in compliance frameworks that require clear counterparty identification. A named contract is one fewer ambiguity in a process that eliminates ambiguity by design.
{05} Decentralized Frontend
cap.eth.limo, no DNS, no takedown
Set a contenthash on cap.eth pointing to the IPFS-hosted frontend and cap.eth.limo becomes a fully decentralized access point for Cap's application. No domain registrar. No DNS dependency. No single point of censorship or failure.
{06} Brand Coherence
cap.app · @capmoney_ · cap.eth, aligned
Cap operates across three naming surfaces. The web frontend, the social identity, and the onchain identity should resolve to the same thing. Right now the onchain layer is the gap. cap.eth closes it.
{05} The Window

Registered in 2020.
Available Once.

cap.eth was first registered in 2020 and has only recently become available on the open market, a rare occurrence for a name of this caliber.

For a protocol of Cap's architecture and institutional footprint, the alignment is unambiguous. cap.eth is not a generic term. It is an exact-match, single-token identifier for the only stablecoin protocol of this name on Ethereum. In onchain namespace terms, that is a canonical asset.

Canonical assets at this level of brand-name precision have no substitutes and no second chances.

Now
The procurement window is open
cap.eth is available for acquisition today, privately and at fair value. It is uncontested. There is no competing claim, no auction, no public process. We are in contact with the owner and can facilitate a clean transfer on any timeline Cap prefers. This is a one-time alignment of name and protocol that does not repeat.
Soon
Token distribution · MegaETH growth · new operator onboarding
Each milestone increases Cap's brand surface and the number of participants who encounter the naming gap. Every new integration doc that references a hex address is a missed subdomain.
After
The gap becomes a due diligence question
A protocol with $11M institutional backing, BlackRock and Franklin Templeton integration, and a live governance token, whose primary ENS name resolves to a third party. That surfaces in a compliance call.
{Cap Protocol Docs · 2025}
"cUSD holder protections are enforced exclusively by code-based adherence to Cap's protocol rules."
The code is verifiable. The name calling it should be too.
No price is stated here intentionally. The value of cap.eth to Cap is self-evident and best discussed directly. We are in contact with the owner and can facilitate a clean, private transfer on any timeline the team prefers.

This note was prepared by Lucas at krok.dev, an ENS brokerage specialising in protocol name-layer acquisitions. We recently facilitated the sale of chain.eth and work exclusively with protocols acquiring their onchain identity before it becomes a gap.
cap.eth
V2.0  ·  2026