Canto Pre-Liquidity Mining Activations
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
- Canto GovShuttle will be available for Layer-1 governance
- Bridging will be live on Gravity Bridge
- Canto DEX will launch
- Canto Lending Market will launch
- $NOTE, the unit of account token, will launch
- 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
- Canto Decentralized Exchange (DEX)
- For more information, see here and here