CAP, the governance and revenue-sharing token behind Cap Labs’ Covered Agents Protocol, is now available on Coinbase. The listing gives one of crypto’s most watched new DeFi tokens access to the exchange’s massive retail user base.
The move comes just days after a token auction that cleared at $0.011 per token, with demand running 5.5 times higher than the available supply.
What is Cap Labs and why does this matter
Cap Labs operates the Covered Agents Protocol, a platform focused on delivering verifiable USD yields through what it calls agent-driven strategies and real-world asset integration. The New York-based project has accumulated over $19 million in deposits and issued roughly $200 million in guarantees.
The CAP token itself serves a dual purpose. It functions as both a governance mechanism, giving holders a say in protocol decisions, and a revenue-sharing instrument. Total supply is capped at 10 billion tokens.
