A DeFi-Centric Layer 1 Blockchain.

What is Canto?

Canto is a permissionless Layer 1 blockchain well suited with the Ethereum Virtual Machine (EVM). It’s designed to supply at the decentralized finance (DeFi) promise – that new fashions could be without difficulty accessible, absolutely transparent, decentralized, and loose thru a post-conventional economic drive. Canto released and not using a middle foundation, presale, vesting, or task backers to be absolutely decentralized. As of time of writing, Canto’s overall cost locked (TVL) stands at $109.03m, with maximum of those locked in its DEX and lending protocols.

At its middle, Canto leverages the Tendermint Consensus and the Cosmos Software Development Kit (SDK) and is secured via way of means of Canto validators. It achieves EVM compatibility via the Ethermint system, which permits an EVM execution environment, in addition facilitating the deployment of Ethereum clever contracts. These gear consist of the Canto Decentralized Exchange (DEX), Canto Lending Market (CLM), and NOTE.

How Does Canto Work?

The Canto group has diagnosed 3 center primitives that anchor healthful DeFi ecosystems: Decentralized exchanges (including Uniswap), lending markets (like Aave), and decentralized devices of account (including DAI). While maximum of those release a governance token that extracts “rent” from destiny customers, Canto has released those as public application protocols (additionally called Free Public Infrastructure – FPI).

This approach that Canto we could customers have interaction with its services for free, leaving governance to the chain. The Canto DEX will continue to be ungoverned, and can't release a token or put in force extra fees. Meanwhile the Canto Lending Market is ruled via way of means of stakers, who're targeted at the boom of the atmosphere and growing an surroundings that works for builders and DeFi customers. Finally, withinside the case of NOTE, its set of rules that adjusts the hobby fee is designed to awareness on selling a much less unstable cost rather than maximizing revenues, aleven though the hobby charged thru borrowing NOTE withinside the CLM is accrued via way of means of the protocol to similarly fund public goods.

How to Stake CANTO?

You can stake CANTO via the Canto Staking website. Before staking your tokens, you should join your web3 pockets and generate a public key. The Canto device will ship you an alert in case you haven’t created a public key. The device expenses 0.08 CANTO while staking and 1 CANTO while claiming rewards. It distributes rewards each 24 hours.

Conclusion

Canto’s key differentiating fee proposition is its determination to retaining a Free Public Infrastructure (FPI) and making sure it stays rent-loose without a governance token or expenses in preference to maximizing revenue. This is in keeping with the promise of DeFi, wherein economic structures are rendered decentralized, accessible, obvious and loose.