# Why Cap Cuts Its Stabledrop Rewards From $11M to $4M: Uneasy Money

Page: https://stenobird.com/podcast/unchained-728975/why-cap-cuts-its-stabledrop-rewards-from-11m-to-4m-uneasy-money
Text version: https://stenobird.com/podcast/unchained-728975/why-cap-cuts-its-stabledrop-rewards-from-11m-to-4m-uneasy-money.md
Podcast: [Unchained](https://stenobird.com/podcast/unchained-728975)
Published: 2026-07-17T22:44:00+00:00
Episode link: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML6165024078.mp3
Audio file: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML6165024078.mp3
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JSON: https://stenobird.com/v1/public/podcasts/unchained-728975/episodes/why-cap-cuts-its-stabledrop-rewards-from-11m-to-4m-uneasy-money
Duration seconds: 5369

## Resource

Cap's founders on shrinking their Stabledrop from $11M to $4M — plus a $23M hack traced toward North Korea, a BarnBridge governance exploit, and Kain's case to force weak L2s to become their own L1s. ======================================================== Thank you to our sponsors! ⁠⁠⁠Cape⁠⁠: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at ⁠https://cape.co/unchained⁠ (use code: UNCHAINED). ======================================================== Cap committed to a roughly 11 million dollar Stabledrop in February, promising early users stablecoins instead of tokens. A delayed token sale raised less than hoped, and the reward shrank to about 4 million, forcing a fast rewrite of who got paid. Benjamin Sarquis Peillard, Founder and CEO of Cap, and Weso of Cap join Kain Warwick and Taylor Monahan to walk through a restructuring that made yield-token holders whole, left farmers without a windfall, and argue points programs are an uncapped marketing expense many projects cannot afford. The conversation widens into EthSystems, a new Ethereum Foundation spinout backed by Joe Lubin, SharpLink and BitMine, Jesse Pollak handing Base product leadership to Cobie, Robinhood Chain's Morpho integration, and whether Ethereum mainnet undercharges L2s. They revisit BarnBridge's SEC-era DAO structure, a dormant governance exploit, a MetaMask and Revoke.cash delegation tool, and a 23 million dollar Ostium hack Taylor traced toward North Korea. Kain closes with a Three Mile Island analogy: complex systems fail not from one mistake, but from small shortcuts compounding at once. Hosts: ⁠⁠⁠Kain Warwick⁠⁠⁠…

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