Canto Liquidity Mining Launch

July 18 update – the team says they are fixing some issues identified in testnet, and an updated launch schedule is TBA.

New layer-1 blockchain launch.

❌ No whitepaper or documentation.

DETAILS

• Launch Details
  • At launch, users will be able to participate in liquidity mining by providing liquidity on the Canto DEX, here
  • 5 incentivized LP pools;
    • USDC / NOTE Concentrated Liquidity Pool
    • USDT / NOTE Concentrated Liquidity Pool
    • NOTE / CANTO Full Range Liquidity
    • CANTO / ETH Full Range Liquidity
    • CANTO / ATOM Full Range Liquidity
  • LP tokens can be supplied to the Canto Lending Market to earn $CANTO rewards

• Overview
  • Canto is a Layer-1 blockchain delivering core DeFi primitives as public utility protocols, or Free Public Infrastructure (FPI)
  • Each core DeFi primitive is designed to work together as a component of a larger ecosystem of public utility that’s resistant to rent extraction at the application layer
  • 3 core DeFi primitives –
    • Canto Decentralized Exchange (DEX)
      • ungoverned
      • not upgradeable
      • 0% LP fees for stable and volatile pairs
    • Canto Lending Market
      • governance controlled by Canto stakers
      • based on Compound V2 lending logic
    • Canto Decentralized Unit of Account
      • $NOTE is Canto’s unit of account
      • ERC-20 standard token
      • not upgradeable
      • over-collateralized
      • backed by M1 assets ($USDC, $USDT, $ETH, $ATOM, $CANTO, CANTO LP tokens)
      • entire supply of $NOTE in existence is minted and sent to the Canto Lending Market (CLM) smart contract
      • $NOTE can only be borrowed from CLM; no new $NOTE can be created
      • $NOTE supply is controlled by the CLM smart contract, governed by Canto DAO (stakers)
      • CLM contract utilizes interest rates to manage the circulating supply of $NOTE
      • interest rates on $NOTE automatically adjusts up or down every 6 hours based on a Total Weighted Average Price (TWAP) of the market price of $NOTE
      • both the supply and borrow rate for $NOTE are always identical
      • all interest paid on $NOTE will be distributed to lenders, with no interest extracted as revenue by the lending protocol
  • For more information, see here and here

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