MegaETH Ecosystem Research on Cap (2)
I have always felt that Rabbit Chain is quite alternative
🔸 First of all, the funding obtained by the on-chain ecosystem has already surpassed the funding amount of @megaeth_labs' parent chain.
🔹 Secondly, MegaETH does not want VC money; they allocate the funds raised from the community to the on-chain ecosystem to support its development. So from the outside, many projects appear to have no funding, but in fact, the funding has not been disclosed.
🔸 Thirdly, the official has clearly stated that there will be no airdrops on the testnet, and there's no need to manipulate data. If you really want to experience the ecosystem, you are very welcome. But if you're here to farm rewards, then don't bother, so those looking to farm rewards should stay away.
In summary, I personally look forward to the development after the mainnet launch. For example, I will definitely invest everything into the project introduced today when the mainnet goes live.
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🌈 Project Background -- Cap
@capmoney_ was established in 2024 as a company developing a stablecoin engine. It is not a traditional stablecoin backed by government bond yields, Ethereum, USDT, or other assets. Cap has its own innovations, and its yield generation is quite interesting.
🔹 Cap operates through a "Yield Solutions Network" that utilizes the skills of professional operators (including high-frequency trading firms, private credit funds, etc.), allowing users to earn passive income effortlessly: such as capital rate arbitrage or token mining.
🔸 Cap can also optimize yields by employing various strategies (including traditional financial bonds and cryptocurrency arbitrage) based on market changes such as bull and bear trends.
I personally believe that Cap's approach is very attractive.
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🚀 Funding Situation
Funding of 11 million USD, led by two firms.
The first is Franklin Templeton, one of the largest investment management companies in the world, focusing on retirement savings and fund investments, easily surpassing a16z in scale.
The second is Triton Capital, the venture capital firm of the American Kraken exchange.
Angel investors include: Synthetix founder, Polygon founder, LayerZero founder, and others.
The community round is quite special, entirely invested by the MegaEth ecosystem; it feels like our own people are very optimistic.
🔹 Two words to summarize: Awesome.
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🚴 Founding Team
🔸 Founder, @Benjamin918_, Benjamin Lens is a pure foreigner who loves Eastern culture and takes pride in smoking Chinese cigarettes. Don't be misled by his profile picture.
He founded QiDao in 2021, which is a well-known stablecoin protocol on the Polygon chain, and he is very proficient in the stablecoin business.
🔹 Chief Technology Officer, @the_weso, is currently still an advisor and core contributor at Beefy Finance, a true DeFi veteran.
🔸 Growth Director, @DeFiDave22, former growth director of projects like Gelato Network and Dinero, also an OG in the crypto space.
The entire core team is composed of veterans from the DeFi space, capable of tackling tough challenges.
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🏄♂️ Airdrop Interaction
Today, I tried to experience the testnet, but kept encountering bugs that prevented me from minting test tokens. The official Discord is also temporarily inactive due to low participation, as the project is still in its very early stages.
My strategy is to invest real money after the mainnet launch; testing the testnet is sufficient, and I feel it's unnecessary to waste time.
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✅ Summary
There are many good projects in the blockchain space, and there are even more interesting ecosystems on MegaETH. We need to observe carefully. I personally enjoy participating in early stages, but my time and energy are limited.
Everyone is welcome to discuss and research together; many hands make light work, and we can discover beautiful projects together.
Let's work hard together.
