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feat: cap governance #115

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Merged
spalen0 merged 1 commit into from
Dec 19, 2025
Merged

feat: cap governance #115

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22 changes: 22 additions & 0 deletions cap/README.md
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# CAP

For more info about CAP protocol check [the docs](https://docs.cap.app/).

## Governance

[cUSD](https://etherscan.io/address/0x16d06500192c12a3306748346511c07c955f0f96#code) contract is upgradable proxy on Mainnet. The roles are set in `AccessStorageLocation` at `0xb413d65cb88f23816c329284a0d3eb15a99df7963ab7402ade4c5da22bff6b00` which points to [AccessControl](https://etherscan.io/address/0x7731129a10d51e18cde607c5c115f26503d2c683#code) proxy contract. Default admin role of the contract is set to [Timelock contact](https://etherscan.io/address/0xD8236031d8279d82E615aF2BFab5FC0127A329ab#readContract) with minimum [24h delay](https://etherscan.io/address/0xD8236031d8279d82E615aF2BFab5FC0127A329ab#readContract#F5).

Tenderly alert for emitted event `CallScheduled` by [Timelock contract on Mainnet](https://dashboard.tenderly.co/yearn/sam/alerts/rules/a22678ba-dc69-4f22-86d9-18757a688d3d).

## Data Monitoring

The script [liquidity.py](./liquidity.py) is run [daily by Github actions](../.github/workflows/daily.yml#L84).

It monitors withdrawable liquidity for the CAP protocol's cUSD contract [`0xcCcc62962d17b8914c62D74FfB843d73B2a3cccC`](https://etherscan.io/address/0xcCcc62962d17b8914c62D74FfB843d73B2a3cccC#code):

1. **Fetches all assets** from the cUSD contract
2. **For each asset**, calculates total withdrawable liquidity:
- Withdrawable amount from the fractional reserve vault (via `maxWithdraw` for the cUSD contract)
- Direct token balance held by the cUSD contract
3. **Sums normalized values** across all assets
4. **Sends Telegram alert** if total withdrawable liquidity falls below [defined threshold](./liquidity.py#L8) telegram alert is sent
3 changes: 2 additions & 1 deletion cap/liquidity.py
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def main():
client = ChainManager.get_client(Chain.MAINNET)

ctoken = client.eth.contract(address=CUSD, abi=load_abi("cap/abi/CToken.json")) # aka cusd

assets = ctoken.functions.assets().call()
Expand Down Expand Up @@ -46,6 +45,7 @@ def main():
divisor = 10 ** int(decimals)
normalized = total_units / divisor if divisor else 0
line = f"{symbol}: {normalized:,.6f}"
print(line)
total_normalized += normalized
lines.append(line)

Expand All @@ -55,4 +55,5 @@ def main():


if __name__ == "__main__":
print("Running liquidity checks for CAP protocol")
main()