Official website: https://canto.io/
Canto is a Layer 1 network based on the#CosmosSDK, but unlike other Cosmos ecosystem projects, it is an EVM-compatible network designed specifically for DeFi.
Canto's recent TVL has surpassed a number of star public chains such as NEAR, ADA, OKC, etc., and its recent trend is also very strong.
Canto is a public chain without VC and pre-sale, and there is no big capital behind it. This public chain is all for providing free public relations infrastructure. Including dex, lending market, etc. are all 0 fees.
First is his dex
There is no charge for interactions on dex.
It cannot be upgraded and theoretically runs forever.
Let’s take a look at the lending market. Its lending market is managed by Canto’s staker. Its collateral is the LP token on DEX, but it is not possible to lend out LP tokens.
#Cosmos ecosystem has not had a stable native stablecoin since the collapse of Luna. Most of them are cross-chained through Axelar. Having a native stablecoin will play an important role in the overall ecological stability and TVL. Note is a stablecoin on Canto, which is backed by over-collateralization (cannot be minted). The price of Note will fluctuate around 1 US dollar.
In order to ensure the stability of the note, when the note price is lower than $1, the interest rate of the note in the secondary market will increase, thereby increasing the demand for the note. When it is higher than $1, the interest rate will be lowered, reducing the demand.
Currently, Canto has been making rapid progress in the TVL of the cosmos ecosystem.
Technical principle
Under the protection of Canto validator nodes, the network will use Tendermint consensus, which can work normally even if up to 1/3 of the machines fail in any way. Tendermint is designed to be an easy-to-use, easy-to-understand, high-performance network that can support a wide variety of dApp deployments.
Canto's infrastructure support also goes a step further than other public chains. The core primitives of the public chain are designed to support free public infrastructure (FPI).
From the user's perspective, new public chains (especially EVM new public chains) may be quite similar. But from the narrative point of view, Canto is more appealing in terms of "decentralization". And FPI is the key to realizing its decentralized vision.
Currently, Canto has no investors and no foundation. The project relies more on the community and has no centralized governance.
DEX, Lending, Stablecoin. For these protocols, simply issuing a governance token can give them the ability to obtain rent from future users of the protocol, which contains huge value.
Canto has made some improvements at the application level: Canto develops these infrastructure-level protocols and uses them as public utility protocols, namely free public infrastructure (FPI). Specifically, the Canto public chain already comes with a lending market forked from Compound, a DEX forked from Solidly, and a stablecoin called NOTE.
These already built "public utilities" must also play their public attributes. Canto's DEX protocol cannot be upgraded and is unregulated. It will run permanently on Canto and will not increase fees in the future. Canto's lending market is governed by Canto pledgers. Canto holders value the ecological value of the entire chain more, and naturally will not grab extra benefits from a single application.
The protocol will not charge any fees for the stablecoin NOTE. Most importantly, these core public infrastructures will not have governance tokens, eliminating the possibility of collecting rent from users in the future. In addition, the core protocol will also follow the principle of "minimum user capture" and will not have a user interface. Users can only trade through third-party aggregators. This can minimize the impact of centralization.
Canto believes that existing DeFi protocols are more like paid private parking lots that only serve their own communities, while Canto's FPI is more like free roadside parking open to everyone.
Economic Model
13% will be distributed to initial contributors, 2% will be used for airdrops, 45% will be used for liquidity rewards for 6 months to 1 year, 35% will be used for rewards in the next 5-10 years, and 5% will be used for donations. Overall, since there is no VC, the tokens will almost always flow in the community.
