Canto (CANTO)
ZK L2 on Ethereum– powered by Polygon Chain Development Kit (CDK). This ZK chain will be dedicated to Real World Assets.
Basics
- Based in:
- Started in / Announced on:
- Testnet release:
- Mainnet release: August 2022
History
- Canto was an EVM compatible L1 built on the Cosmos SDK with a focus on DeFi apps according to some and centered around public goods funding according to others. It then pivoted towards a Zk L2 focused on RWA.
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Didn't produce blocks for at least 22 hours after an upgrade created a consensus bug (12-8-2024).
Governance
Admin Keys
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Consensus mechanism: a ZK Polygon Chain
- Algorithm:
- Virtual Machine: EVM compatible
- Development language used:
Transaction Details
How it works
- From Our Network, whose writers have invested in Canto (24-1-2023):
"Canto DEX is an AMM with both concentrated liquidity and constant function pools. Since launch, the DEX has seen over 950k trades. Total volume recently crossed $782m. Canto Lending Market (CLM) is a fork of Compound V2, creating an experience familiar to many DeFi users. "
- From The Messari year end report (12-2022):
"Canto recently launched an EVM-compatible L1 which has pre-built core protocols such as an AMM DEX, lending protocol, and a stablecoin. It aims to make these core protocols free public goods for users and developers."
Fees
"Canto offers is Contract Shared Revenue (CSR), through which the creators of Canto smart contracts can receive a cut of all the transaction fees generated from users interacting with their projects."
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
"Canto’s DeFi ecosystem is currently the 16th-largest in the cryptoeconomy with a $178M TVL."
- From Our Network, whose writers have invested in Canto (24-1-2023):
"Despite being launched in August, Canto is now the 5th largest Cosmos chain by TVL, growing ~40% MoM - faster than any other IBC chain with >$1m in TVL. Zooming out, the chain ranks 23rd highest in TVL out of all L1s and L2s, despite being the second youngest of the top 50. TVL is currently tracking ~$106m. Since its launch in August, Canto has received over $300m in assets bridged from Ethereum mainnet, across more than 10k transactions. The majority of these assets have been USDC or USDT, making up about 93% of the total volume."
Projects that use or built on it
Competition
- From Our Network (24-1-2023):
"The chain does not initially innovate technologically - it was built with mostly off-the-shelf open-source components, notably the Cosmos SDK - but introduces a novel socioeconomic structure designed to incentivize public goods funding."
Pros and Cons
- From The Messari year end report (12-2022):
"Canto has chosen to take a democratized approach to user acquisition. There are no venture backers, no pre-sale, no foundation — just the chain. The objective is to minimize rent-seeking activity and give users and developers simple, free infrastructure. While commendable, without revenue potential, products (and people) aren’t motivated to compete, and developers may be hesitant to build enhanced features."
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
Funding
- Variant Fund disclosed to have bought CANTO (23-1-2023).
Partners
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