Some of our resident BOTL home rollers might be able to help answer that. There's quite a few threads I think where they're all lurking.
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Who me? Lol.
1. Wrappers are placed on the cigar from foot to head, the cap prevents that from unraveling the opposite direction.
2. Helps denote which end is the head. This is important since all leaves are placed in the cigar facing the same direction. The tobacco at the foot is mostly comprised of the tips or outermost end of the leaf. This area is where the tobacco has the richest flavor, which makes sense that the less desirable tobacco ends up in the head where one stops smoking the cigar. So the cap signifies where your mouth goes and which end you torch.
3. Makes the cigar look good.
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