CANTO price 

CANTO

Canto has several unique features that set it apart from other blockchains in the DeFi space, with a big part of its success its anti-establishment approach and designs on freeing DeFI tools for mass use. It has no official foundation, token presale, or vested tokens and essentially aims to provide feeless DeFi services to all crypto users.

It does this by establishing what it calls free public infrastructure for three core DeFi primitives, namely decentralized exchanges (DEX), stablecoins and lending market protocols. To this end it has its own Canto DEX, Canto Lending Market (CLM) and NOTE to connect 3 different parties: liquidity providers, stakers and users.

They fit into the Canto ecosystem as follows: Liquidity providers who deposit tokens into the Canto DEX earn CANTO tokens as reward; Stakers govern and expand the Canto Lending Market while also incentivizing work by developers; Users create network effects and enjoy the benefits of zero fees.

To ensure that these tools remain free to use for everyone, its infrastructure does not allow its main DeFi primitives to issue governance tokens or seek rent from future users in the form of fees.

Considering liquidity a free public good, Canto strives to remove all centralized elements from its chain and charges zero fees from liquidity providers such as other protocols, traders and investors who offer arbitrage.

The Canto DEX is not subject to any upgrades, does not have an official interface and will remain free to use through the Slingshot DEX aggregator, whose founders also co-founded Canto. It uses an automated market maker (AMM) mechanism to source liquidity from liquidity pool (LP) trading pairs and rewards their creators with CANTO tokens which can be used as collateral for loans.

Canto’s NOTE stablecoin is a dollar-pegged ERC20 token that serves as Canto’s official unit of account, NOTE is over-collateralized by loans to CLM and perpetually repegged through an algorithmic interest rate policy and be borrowed by providing CANTO, ETH, ATOM or Canto LP tokens as collateral.

There are 423,437,418 CANTO tokens reportedly in circulation, out of a total supply of 1B tokens.

The distribution of CANTO is allocated as follows: 13% to contributors, 2% to settlers of Canto, 5% to future grants, 35% to medium-term liquidity mining, and 45% to long-term liquidity mining.

Dive deeper into Canto, how it works, features and tokenomics on CMC Alexandria.

Learn more about Cosmos (ATOM) — a layer 0 blockchain that is building the “internet of blockchain.”

Check out our deep dive into the Cosmos ecosystem.

Find out more about Osmosis — the liquidity hub on Cosmos.

Refresh your knowledge on DeFi with CMC Glossary.