PANews reported on April 7 that according to CoinDesk, the yield-based stablecoin protocol Cap announced on Monday that it had raised $11 million in funding from well-known financial institutions such as Franklin Templeton and Triton Capital. The total funds were announced at the end of a recent $8 million seed round of financing and will be used to develop Cap's stablecoin engine, which is scheduled to go online later this year. Previously, Cap had raised $3 million in the previous round of financing. According to the statement, Cap will provide users with a way to earn additional income through re-staking protocols such as EigenLayer. According to reports, Cap's system is designed to enable users to earn passive interest or income based on these tokens.