Polyurethane prepolymers were synthesized from poly (caprolactone) diol (PCL-2000) and isophorone diisocyanate（IPDI）. With a chain extension polymerization of polyurethane prepolymers, piperazine and epoxy resin E-44, and by controlling the material ratio of copolymers to adjust the molecular weight and flexibility of synthetic resin，a series of linear multi-block macromolecular resin can be made. With its neutralization hydration effect, new cationic waterborne resin can be obtained. The design idea of the experiment was introduced in detail. The effect of material ratio on the resin structure parameters, properties of waterborne resins and cured products was explored. The results show that the molecular weight of synthetic resin and the particle size of waterborne resins can be controlled by adjusting the material ratio. The tensile strength, elongation at break, Tg of cured product can be adjusted from 10.46 MPa to 22.14 MPa，629% to 190% and 24.1 ℃ to 44.7 ℃，respectively