# What's CAP?

[CAP](https://cap.finance) is a decentralized trading protocol. It's designed to be fast and easy to use by anyone.

* [Trade](https://docs.cap.finance/trade) directly from your wallet, no account needed. Optionally select leverage up to 50x to multiply potential profits and losses. Trades have 0.1% fee.
* [Pool](https://docs.cap.finance/pool) ETH or USDC to back trader profits and receive a share of trader losses.
* [Stake](https://docs.cap.finance/pool/deposit) CAP, the protocol's native token, to receive a share of protocol revenue.

CAP is maintained by a community of internet friends. Find us on [Discord](https://discord.gg/zkdr8vnujz) and [Twitter](https://twitter.com/CapDotFinance).

### White Papers

* [Crypto-Synthetic Trading](https://cap.finance/whitepaper.pdf). Original research on which CAP v1 is based. The dynamics in later releases are different. This documentation site contains the latest on how CAP works.
* [Crypto-Synthetic Market Making](https://cap.finance/whitepaper_mm.pdf). Research done on creating efficient market making algorithms to fill orders submitted by traders without compromising LPs. The dynamics used by the dark oracle network to market make on CAP are similar to what is described in this paper.

### Tokenholder Letters

* [2022](https://cap.finance/letters/2022.pdf)

### Stats

[Token Terminal](https://www.tokenterminal.com/terminal/projects/cap) has stats on CAP's trading volume, revenue, and more. [Defi Llama](https://defillama.com/protocol/cap) has stats on TVL and token staking.

There are also community-built tools to track protocol stats:

* [Dune Analytics](https://dune.com/crypt0gnome/cap-finance)
* a [dashboard](https://dash-0xdarkcap.vercel.app/) for positions, liquidation prices, and more
* a [Github repo](https://github.com/0xmu/monitor) that you can run yourself to get up-to-date stats from The Graph

### Releases

* [CAP v3](https://cap.finance/) (current version)
* [CAP v2](https://v2.cap.finance/)
* [CAP v1](https://v1.cap.finance/)

CAP is open source ([Github](https://github.com/0xcap)).


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