Have you calculated the ripple current in that cap?
There is not really enough information on your diagram to be able to do it (Switching frequency and duty cycle, operating voltage of the cell).
It would not surprise me if the ripple current was half the average cell current, which could be several amps, and I bet that cap is not rated for that current level.
What is the ESR rating of that cap? Ripple current rating of the cap?
Also you should have several low esr ceramics across that cap (1uF X7R would probably be ok), connected directly between the fet ang ground (very short traces).
Usually when building a switcher at any kind of power level you need several parallel bus caps even if using low esr types.
73 Dan