Cap founder apologizes over Stabledrop cut, says airdrop pool fell from 11 million to 4.2 million
Cap founder Benjamin apologized after controversy over the reduced Stabledrop allocation and laid out the project’s explanation in detail. He said the team had committed too early to an 11 million airdrop before funding was fully secured. After market conditions changed, fundraising came in below expectations, shrinking the actual airdrop pool to 4.2 million. Benjamin said the team then replaced its planned linear distribution with a temporary restructuring model designed to preserve principal but offer no profit for early YT holders, with the goal of ensuring that no participant takes a loss. He added that the rule applies equally to all wallets. Addressing community criticism around a whale wallet suspected of internal score farming, Benjamin said the address belongs to a former colleague rather than the team itself and that no treasury funds were used. He also said the Cap protocol remains healthy and argued that the TVL drop seen over the weekend was mainly driven by a spike in USDM borrowing rates on Aave on MegaETH, which pushed arbitrage traders to exit, rather than by the airdrop dispute. According to him, all redemptions were processed smoothly.








