# Cap audit contest Sherlock · Stablecoin issuer · 10th July 2025 · #14 A public audit contest on Sherlock (stablecoin issuer), completed on 10th July 2025. 0xSimao placed #14. 2 of his findings are published: 2 medium. ## What Cap is Cap is a stablecoin protocol on Ethereum with two products: cUSD and stcUSD. cUSD is a digital dollar, backed by blue chip dollar assets like BENJI and USDC. stcUSD is a savings product that generates yield via an autonomous layer of operators. ## Scope The Sherlock contest covered cap-contracts, 50 files and 2,405 nSLOC: cUSD minting and redemption against its blue-chip dollar backing, the stcUSD savings vault, and the operator layer that generates and settles the yield. ## Medium severity findings - [`ViewLogic::maxLiquidatable()` doesn't take the bonus into account, making the agent liquidatable again](https://0xsimao.com/findings/cap-view-liquidatable-bonus-agent) - [Cannot repay or liquidate on paused asset](https://0xsimao.com/findings/cap-cannot-repay-liquidate-paused) ## The contest [View the contest page](https://audits.sherlock.xyz/contests/990)