NET market cap surpasses $70M, reaches all-time high

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Market news broke on August 26 as the market cap of NET, the token of Robinhood’s DeFi protocol NetNet Capital, briefly surpassed $70 million, reaching an all-time high. The current market cap is $66.48 million, with a 24-hour increase of 100.5%. Modeled after OlympusDAO v1, NET is backed by USDG in the treasury, with smart contracts ensuring each token corresponds to at least 1 USDG in risk-free value. Bitcoin market news also highlights the rise of DTF, an OHM-inspired token, which now has a $5.99 million market cap and a 24-hour gain of 107%.

ChainThink reports that on August 26, according to market data, the token NET of Robinhood’s on-chain DeFi protocol, NetNet Capital, briefly surpassed a market capitalization of $70 million, setting a new all-time high.

The current market cap is $66.48 million, with a 24-hour increase of 100.5%.

NET is the native token of the OlympusDAO-inspired protocol, which adopts the OlympusDAO v1 architecture and is backed by USDG held in the treasury.

The smart contract stipulates that each NET must be backed by at least 1 USDG in risk-free value (RFV); if the minted amount exceeds the RFV held in the treasury, the transaction will automatically revert.

According to market data, the OHM-themed token DTF (Down to Finance) has a current market cap of approximately $5.99 million, with a 24-hour increase of 107%.

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