Cap Cuts Stabledrop Reward to $4.2 Million After June Token Sale Raised $4.2 Million

Cap reduced its Stabledrop reward to $4.2 million from roughly $12 million, citing proceeds from a June token sale. According to NS3.AI, Cap said the smaller reward amount was funded by the June sale, which offered 5% of the CAP supply and raised $4.2 million. Market data showed CAP declined about 20% over the past week, based on CoinGecko figures. Separately, DefiLlama data indicated Cap’s total value locked slipped to about $230 million as of Monday.