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Canto, built to deliver on the promise of DeFi.

Canto

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About

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Community contributor guidelines, and info for developers

Building smart contracts for the Canto EVM is the same as doing so for Ethereum or any other EVM-compatible chain

November 2 -20 Virtual. Join the Canto Online Hackathon for apps, infrastructure, and original work.

$NOTE is Canto’s unit of account and one of the three core DeFi primitives to be featured on Canto at launch

Stake your Canto, claim rewards and view delegations

As a post-traditional financial movement, Canto enables accessibility, transparency, and freedom for new systems. 

Driven by a loosely organized collective of chain-native builders, Canto provides a new commons powered by free public infrastructure.

[Read more about Canto](https://canto.minipent.xyz/about)

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The Layer-1 blockchain built to deliver on the promise of DeFi.

In exchange for locking up your tokens, you'll earn rewards in the form of additional $CANTO, as well as voting power for governance proposals.

Staked tokens are subject to a 21 day unbonding period. If you decide to unstake $CANTO, you will have to wait 21 days before it returns to your wallet.

[How to stake](http://localhost:3000/resources/staking)

Staking, also known as delegating, is the process of locking up your $CANTO tokens for a period of time to contribute to the security of the Canto network.

Stake Canto

LeetSwap is an emerging DEX and DeFi ecosystem built on the Canto blockchain with a focus on retaining a secure, fast, and user-friendly experience, while introducing novel approaches and ideas to the space.

Leetswap

[How to lend and borrow](https://canto.minipent.xyz/resources/lending-and-borrowing)

The Canto Lending Market allows you to supply and borrow assets, including LP tokens received from the Canto LP Interface.

Canto Lending Market

[How to provide liquidity](https://canto.minipent.xyz/resources/providing-liquidity)

The Canto LP Interface allows users to provide liquidity and receive LP tokens.

Canto DEX & LP Interface

This allows you to contribute to the blockchain and place votes on changes that will directly impact the Canto community.

[More info](https://canto.minipent.xyz/resources/governance)


The Canto governance page is a place where all users who have staked Canto can vote on proposals.

Participate in Governance

canto moon

Explore blocks, transactions, token and APIs

Canto explorer

Canto Shell

The Canto Ecosystem. Explore the dApps, jobs, bounties, and resources from the Canto ecosystem.

canto tools

Proof-of-stake infrastructure and service provider

ansybl staking

canto messenger

E-gaming/Casino-Fi platform launching on Canto

Betoad

canto minipent is a cms for both technical and non-technical contributors to manage canto's product links, resources and contributor engagement

canto minipent

cantillionaires

splitz

The Canto Bridge allows you to bridge assets to Canto from Ethereum or Cosmos Hub. It also supports bridging back to Ethereum.

[How to use](https://canto.minipent.xyz/resources/bridge)

Bridge assets to Canto from Ethereum or Cosmos Hub, and back to Ethereum

Bridge to Canto

projects

Canto presents the radical notion that core DeFi primitives should exist as Free Public Infrastructure (FPI). Having observed the growth of the DeFi space, from the launch of DAI in late 2017 to the emergence of many DeFi projects in 2021, three core primitives have emerged to anchor any healthy DeFi ecosystem: decentralized exchanges (DEX), lending markets, and a decentralized unit of account. As the ecosystem has grown, each core primitive has made the same decision: launch a governing protocol token that derives value from its ability to extract rent from future users.

Canto takes a different approach by choosing to launch these core DeFi primitives as public utility protocols, or Free Public Infrastructure (FPI). Where existing protocols serve their community more similarly to a pay-by-hour private parking garage, Canto’s FPI intends to provide for its community in a manner more akin to free parking on a city street.

For Canto’s decentralized exchange, the protocol cannot be upgraded and will remain ungoverned. It will run in perpetuity on Canto without ever being able to launch a token or implement additional fees over time, preventing the possibility of a predatory evolution toward rent-seeking behaviors.

For the Canto Lending Market, governance is controlled by Canto stakers. Canto stakers have broad interests in the growth of the ecosystem and fostering the best environment for both developers and DeFi users. As such, they have no incentive to extract rent at the application layer.

For $NOTE, the unit of account token, the interest charged to stabilize its price will be contributed toward funding public goods. The algorithm responsible for adjusting this interest rate is designed to change the interest rate in order to promote a less volatile value as opposed to maximizing revenue. All interest paid by borrowers will be distributed to lenders, with no interest extracted as revenue.

By giving governance powers to the chain, we expect the operation of the primitives to naturally align with the public interest, resulting in a healthy and robust ecosystem free from zero-sum games that have since come to dominate the once egalitarian system of decentralized finance.

Canto presents the radical notion that core DeFi primitives should exist as Free Public Infrastructure (FPI).

DeFi Primitives Are Best As Free Public Infrastructure

As the Canto launch approaches, the development team has prepared a timeline for the Canto community. The sequence will begin with Settlers of Canto, a dress rehearsal for the Canto launch, followed by protocol activations, and Canto’s inaugural liquidity mining program.

### July 16th, 11AM CT: Settlers of Canto
Starting at 11AM CT, we will open up our testnet for interested users to get early access to Canto.

For access, please head to settlers.canto.io and enter the necessary information. By Saturday at 11AM, you will have received test tokens in your wallet to use on the testnet. We appreciate your support.

#### Update: The team is currently working on some issues that were identified on testnet. We'll announce an updated launch schedule when the issues have been addressed.

### TBA: Pre-liquidity mining activations
**Canto GovShuttle** - A smart contract system for Layer-1 governance to enact its policy decisions in the execution layer.

**Bridging** - The bridge interface will go live. Users can deposit ETH, USDC, and USDT from mainnet via Gravity Bridge. ATOM transfers will be possible via IBC.

**Canto Decentralized Exchange** - A DEX with 0% LP fees for stable and volatile pairs, based on Solidly trading logic.

**Canto Lending Market** - A lending market for assets on Canto including LP tokens based on Compound V2 lending logic.

**NOTE and supporting smart contracts - NOTE is Canto’s unit of account token.**

### TBA: LM Program Starts
At 11AM CT on July 20th, Canto’s liquidity mining program will kick off. To participate in the liquidity mining, head to lp.canto.io and provide liquidity to the DEX.

**Canto will launch with 5 incentivized pools:**

- USDC/NOTE Concentrated Liquidity Pool (yx^3 + xy^3 = k)
- USDT/NOTE Concentrated Liquidity Pool (yx^3 + xy^3 = k)
- NOTE/CANTO Full Range Liquidity (xy = k)
- CANTO/ETH Full Range Liquidity (xy = k)
- CANTO/ATOM Full Range Liquidity (xy = k)

After receiving LP tokens, participants can earn rewards by supplying the LP tokens to the Canto Lending Market. Rewards will be distributed in the form of Canto dripped to the LP token suppliers.

### Canto is a high risk experiment that is testing a series of new ideas on the frontier of decentralized finance and social coordination. Please participate at your own discretion.

Canto Launch Sequence

We’re nearing the public launch of Canto, a Layer 1 blockchain providing core DeFi primitives designed to support the Free Public Infrastructure. We’re excited to invite the community to review the following details on token distribution for the Canto network, including the inaugural liquidity mining incentives, and grants for eligible participants in the Settlers of Cantos testnet event.

### Genesis Block
At genesis, 1B tokens were minted. The tokens will be distributed in the following manner:

- **Contributors**: 13.0%
- **Settlers of Canto**: 2%
- **Future Grants**: 5%
- **Medium-Term Liquidity Mining**: 35%
- **Long-Term Liquidity Mining**: 45%

Tokens not yet distributed (Grants and Future Liquidity Mining) will be kept in the community pool.

### Liquidity Mining Incentives
In order to compensate LPs for providing capital to Canto’s zero LP fee DEX and to help distribute CANTO in a fair manner, a liquidity mining program will release tokens linearly per block to LP token holders. We ensure that there will be suitable liquidity at launch by partitioning the genesis block into two sets of liquidity mining incentives. The first block of tokens will provide incentives for LPs for the first six months after Canto launches and the second block will provide incentives for a longer term multi-year period. We make the incentives sufficiently large enough to ensure that liquidity is freely available for the vast majority of trading activity while accounting for high expected volatility in the initial phases of Canto’s launch.

#### Liquidity Mining Emissions
Medium-Term Liquidity Mining is expected to consist of six month-long epochs. The first epoch will start at launch and will distribute 5.83% of the token supply. The Canto DAO has onchain control over all liquidity mining schedules. As the first epoch concludes, the DAO may choose to pass a proposal to begin a second epoch.

Long-Term Liquidity Mining is expected to continue liquidity mining after the Medium-Term Liquidity Mining allocation is emitted. The Long-Term Liquidity Mining reserves may be emitted over the course of 10 years, or any other schedule the DAO chooses.

### Staking Incentives
Canto aims to bootstrap network security through a policy of minimum viable issuance of new tokens to stakers. We achieve this objective initially by issuing a flat amount of tokens linearly per block to stakers in a manner similar to LM incentives. Canto’s high inflation allows market participants to effectively price the excess returns on liquidity mining relative to the expected impermanent loss. As Canto’s financial primitives become more liquid over time, we expect that this premium converges rapidly to its fair value as new information enters the market.

#### Security Emissions
Network security emissions will start around an inflation rate of 200M Canto per year for the first 30-day period, minting ~16m new CANTO tokens. The LM reward per block mined will be ~37 CANTO. Every subsequent period will face exponentially decaying security emissions.

### Grants for Settlers of Canto
We are grateful to all those who have participated in the Settlers of Canto testnet event, and have decided to distribute 20M tokens to Settlers.

#### Filtering Criteria
In order to identify real, active Settlers, we subjected participants to a selection of examinations aimed to determine both the likelihood of them being a real human and becoming a Canto contributor. Settlers were scored and granted based on the following:

- **Feedback**: All feedback responses that were viewed relevant, coherent and original were counted.
- **Chain Score**: Wallet addresses that had activity across Ethereum and its L2s received higher scores. We accounted for transaction history across ETH, Polygon, Optimism, and Arbitrum. NFT ownership, ENS ownership and other signals were included. The greater the activity, the higher a Settler’s chain score.
- **Twitter Score**: We took metrics from the Twitter accounts of each Settler, such as the Twitter activity and followers, and issued a significant penalty for accounts focused on giveaway promotions and airdrops.
- **Canto Score**: Every address was assigned a Canto score based on the number of transactions an address made on the Canto Testnet, along with if they completed the Settler’s Goals (lending LP tokens in the Canto Lending Market, etc.)

At genesis, CANTO was directly sent to the eligible wallet addresses used to participate in Settlers of Canto. In total, 9364 Settlers were eligible to receive Canto from the event.

We’re excited to invite the community to review the following details on token distribution for the Canto network, including the inaugural liquidity mining incentives, and grants for eligible participants in the Settlers of Cantos testnet event.

Canto Genesis

Canto is launched. The governance keys for Canto Lending Market are now in full custody of the DAO with subsequent proposals enacted to enable security emissions and chain parameters. With that, early contributors plan to propose the following liquidity mining schedule to the DAO.

### Liquidity Mining Program  
Per Canto’s Genesis and token distribution model, the initial liquidity mining program will release tokens linearly per block to LP token holders:

- 62.5 million CANTO will be released to LP token holders over a 30-day period
- 144.6759259 CANTO per block 
- Will begin when the proposal is executed on-chain.
### CANTO/NOTE LP Token Supply Market
- Receives 37.27% of the block reward for Liquidity Mining 
- 53.92 Canto per block
### ETH/CANTO LP Token Supply Market
- Receives 18.63% of the block reward for Liquidity Mining 
- 26.96 Canto per block
### ATOM/CANTO LP Token Supply Market
- Receives 18.63% of the block reward for Liquidity Mining 
- 26.96 Canto per block
### NOTE/USDC LP Token Supply Market
- Receives 12.42% of the block reward for Liquidity Mining 
- 17.97 Canto per block
### NOTE/USDT LP Token Supply Market
- Receives 12.42% of the block reward for Liquidity Mining 
- 17.97 Canto per block
### USDC Token Supply Market 
- Receives .31% of the block reward for Liquidity Mining 
- 0.45 Canto per block
### USDT Token Supply Market 
- Receives .31% of the block reward for Liquidity Mining 
- 0.45 Canto per block

The program will begin immediately when the proposal is executed on-chain.

Canto Liquidity Mining Program

A key belief of the Canto network is that core cryptoeconomic primitives should exist as Free Public Infrastructure. To further facilitate this vision, early Canto contributors propose the implementation of Contract Secured Revenue: a novel mechanism for smart contract developers to earn from their work.

### What Is Contract Secured Revenue (CSR)?
Contract Secured Revenue, or CSR, is an opt-in fee splitting model that relays to developers to a percentage of any transaction fees paid to the network when users interact with their Canto-based decentralized applications.

CSR provides smart contract teams a new path to earn from their work without relying on extracting protocol fees from users or other rent-seeking behavior. It is designed to open a new path to economic sustainability for smart contract development in a way that upholds the network’s ethos.

To opt into CSR, developers must first deploy their smart contracts, after which they register those contracts with the CSR Turnstile smart contract by sending a single transaction from the contracts’ deployer address.

### CSR is Powered by DeFi-Friendly NFTs
The Canto CSR model uses Non-Fungible Tokens (NFTs) to represent the right to claim a contract’s CSR. Revenue from CSR accrues gradually and automatically in the NFT smart contract every time a transaction is made, and the NFT owner can withdraw this revenue from the NFT smart contract at any time.

When registering a contract, developers can choose whether they would like to receive a new CSR NFT for that contract, or whether they would like that contract’s revenue to accrue to an existing CSR NFT. This enables single CSR NFTs to accrue CSR from multiple contracts.

Contract Secured Revenue is a contributor initiative to fulfill the vision of a shared blockchain economy. Join the Canto community today on Discord, Twitter, or Telegram and begin contributing to the network’s future.

Early Canto contributors propose the implementation of Contract Secured Revenue: a novel mechanism for smart contract developers to earn from their work.

Introducing CIP-1 Contract Secured Revenue (CSR): Tokenized Fee Sharing for Canto Builders

The Canto community is thrilled to kick off the first Canto Online Hackathon (COH): a virtual summit that invites developers to launch the next wave of apps, infrastructure, and original work. Extending over October 1 - 21, the COH offers builders the opportunity for mentorship, team matching, and CANTO prizes in their pursuit of launch within the Canto ecosystem.

To apply for the hackathon, visit [thecoh.build](thecoh.build).

### Launch on Canto’s Execution Layer for Original Work
Canto is a permissionless blockchain with an EVM execution layer (Cosmos SDK) and core financial primitives, including its novel decentralized exchange, lending market, and unit of account (NOTE). In support of Canto’s Free Public Infrastructure – a framework that advocates for DeFi primitives to be provided as public utilities, among other tenets –  the COH similarly values projects centered on sustainability, authenticity, and creativity. 

### 300,000 CANTO In Prizes
Builders will compete for prizes from a 300,000 CANTO rewards pool. The overall winner will be awarded 100,000 CANTO while category winners will receive 40,000 CANTO. In addition, teams earning the distinction of "notable build" will earn a share of a 40,000 CANTO rewards pool, split amongst all "notable builds."

Building categories are as follows:

- **Ecosystem Support** – Analytics, tooling, and sites for Canto awareness.

- **NFTs** – Collections that break new ground, and/or include experimental aspects.

- **DeFi** – Original work that leverage Canto’s Infrastructure, including Free Public Infrastructure and Contract Secured Revenue.

- **New Things** – The most divergent ideas: games, DAOs, all things weird.

More details on mentorship opportunities, judging criteria, and schedule will be available closer to the event start.

The Canto community is thrilled to kick off the first Canto Online Hackathon (COH): a virtual summit that invites developers to launch the next wave of apps, infrastructure, and original work.

Announcing the First Canto Online Hackathon

As Canto’s first month of liquidity mining incentives nears its completion, early contributors propose to the DAO an extension of the program with new parameters to improve capital efficiency and further align Canto stakeholders. The proposal calls for the reduction of net emissions across security and liquidity mining to be reduced by ~54% over the prior period, as recommended below.

### Analysis
It’s clear that Canto’s initial incentives were well received. Since launching, $116M worth of assets were bridged to the Canto network and subsequently used to buy CANTO, borrow NOTE in Canto’s Lending Market, and provide liquidity in Canto’s native DEX.

### Balancing Liquidity Provision
Over the past 30 days we have seen TVL grow to $92M with the high being $103M. This TVL is spread out across five incentivised pools in the following manner:

- NOTE/CANTO: $7M
- ETH/CANTO: $3.5M
- ATOM/CANTO: $4M
- NOTE/USDC: $22.9M
- NOTE/USDT: $21.8M

In order to incentivise a more even distribution of TVL, early contributors recommend increasing the relative distribution of emissions to volatile pairs and reducing emissions to stable pairs.

### Exceeding Network Security Target
On the network security side, we have seen approximately 57% (~129 million) of the total CANTO in circulation staked with validators. Given a target staking rate between 30-40%, and Canto’s aim of bootstrapping network security through minimum viable issuance, early contributors recommend increasing the emissions designated for liquidity mining and reducing the emissions designated for network security.

### Adjusting Overall Emissions
Finally, in order to raise capital efficiency across Canto’s Free Public Infrastructure, it is recommended that Canto implement a reduction of overall emissions. Given these objectives, early contributors plan to propose the following liquidity mining schedule to the DAO.

### Inflation Changes
Network security emissions will move from an inflation rate of 37.74 Canto per block (roughly 20% annualized) to an inflation rate of 10 Canto per block (roughly 5.3 % annualized) minting ~4.5m new CANTO tokens over a 30-day period. This is a reduction of 70% over the prior period.

### Liquidity Mining Program
Per Canto’s Genesis and token distribution model, the second-month liquidity mining program will release tokens linearly per block to LP token holders:

- 30.8 million CANTO will be released to LP token holders over a 30-day period
- 72 CANTO per block
- Will begin when the proposal is executed on-chain.

This is a reduction of ~50% over the prior period.

### CANTO/NOTE LP Token Supply Market
- Receives 44.08% of the block reward for Liquidity Mining
- 32 CANTO per block

### ETH/CANTO LP Token Supply Market
- Receives 22.03% of the block reward for Liquidity Mining
- 16 CANTO per block

### ATOM/CANTO LP Token Supply Market
- Receives 22.03% of the block reward for Liquidity Mining
- 16 CANTO per block

### NOTE/USDC LP Token Supply Market
- Receives 5.51% of the block reward for Liquidity Mining
- 4 CANTO per block

### NOTE/USDT LP Token Supply Market
- Receives 5.51% of the block reward for Liquidity Mining
- 4 CANTO Canto per block

### USDC Token Supply Market
- Receives .41% of the block reward for Liquidity Mining
- 0.3 CANTO per block

### USDT Token Supply Market
- Receives .41% of the block reward for Liquidity Mining
- 0.3 CANTO per block

Net emissions across network security and liquidity mining will be reduced by ~54% over the prior period. The program will begin immediately when the proposal is executed on-chain.

As Canto’s first month of liquidity mining incentives nears its completion, early contributors propose to the DAO an extension of the program with new parameters to improve capital efficiency and further align Canto stakeholders. 

Passed: DAO Proposal Calls For a ~54% Reduction in Emissions & Liquidity Mining Incentives

As such, the Canto community would like to introduce a core contributor who aims to build and maintain different parts of Canto’s SDK, essentially becoming the primary maintainer/client developer.

### Background
B-Harvest is an established team within the Cosmos ecosystem. They were the original developers of the core liquidity module (Gravity Dex) and were the first to introduce concentrated liquidity in the form of an SDK module. As an original genesis validator on the Cosmos Hub, B-Harvest is a leading validator across numerous major Cosmos ecosystem networks, and its team has a long track record of high-quality and timely delivery of key Cosmos development objectives. While Canto utilizes the EVM for its execution logic, the blockchain logic is built on the Cosmos SDK. A contributor like B-Harvest will enable the Canto Hub to implement timely chain upgrades alongside development of new modules.

### Funding and Terms
The B-Harvest team is requesting funding at costs + 50% from the CANTO hub per year to cover the OPEX required to execute on the scope of work mentioned below.

The first year will be capped at $1.3 million, paid quarterly as costs accrue. The payment can be done either by equivalent value in NOTE (Canto’s unit of account) or CANTO with 10% more provided to account for volatility. Subsequent years may be higher if costs rise over time, and will be capped at $1.5 million per year.

In a parallel transaction, for long-term economic alignment, a portion of the CANTO genesis block that was set aside for contributors will be transferred to the B-Harvest team over the next three years. Any subsequent modifications in scope and/or terms to this framework as currently proposed will be signaled on-chain via governance as incurred throughout the duration of this contribution arrangement.

The community can expect to see a proposal that outlines the engagement with B-Harvest along with a more detailed scope of work that they aim to focus on over the next year.

Collaboration is the foundation of Canto’s ethos.

B-Harvest to Join Canto as a Core Contributor Pending DAO Proposal

The proposal calls for net liquidity mining emissions to remain unchanged, and for network security emissions to rise to their intended level.

### Analysis
The Canto network’s current emissions parameters were voted on by the Canto DAO on September 17th. These parameters were a significant improvement over prior levels as demonstrated by the increase in both TVL (from roughly 63 million to a peak value of 160 million) and overall network activity (from an average of 5,000 transactions per day to well over 15,000 per day). The update raised capital efficiency for Canto holders and reduced price volatility for liquidity providers. Since launch more than $230M worth of assets have been bridged to the Canto network and subsequently used to buy CANTO, borrow NOTE in Canto’s Lending Market, and provide liquidity in Canto’s native DEX.

### Inflation Changes
Network security emissions will move from an inflation rate of 4.2 Canto per block (roughly 2.1% annualized) to an inflation rate of 10 Canto per block (roughly 5.3 % annualized) minting ~4.5m new CANTO tokens over a 30-day period.

This change will increase network security emissions to their intended level, which was previously prevented by the now-rectified GovShuttle module bug.

### Liquidity Mining Program
Per Canto’s Genesis and token distribution model, the fourth-month liquidity mining program will release tokens linearly per block to LP token holders and lenders:

- 30.8 million CANTO will be released over a 30-day period
- 72.6 CANTO per block, of which 72 goes to LP token holders and 0.6 to stablecoin lenders
- Will begin when the proposal is executed on-chain.

This remains the same as the prior period.

### CANTO/NOTE LP Token Supply Market
- Receives 44.08% of the total block reward
- 32 CANTO per block

### ETH/CANTO LP Token Supply Market
- Receives 22.03% of the total block reward
- 16 CANTO per block

### ATOM/CANTO LP Token Supply Market
- Receives 22.03% of the total block reward
- 16 CANTO per block

### NOTE/USDC LP Token Supply Market
- Receives 5.51% of the total block reward
- 4 CANTO per block

### NOTE/USDT LP Token Supply Market
- Receives 5.51% of the total block reward
- 4 CANTO Canto per block

In addition to liquidity mining rewards, a further 0.6 CANTO is released per block to stablecoin lenders on the Canto Lending Market:

### USDC Token Supply Market
- Receives .41% of the total block reward
- 0.3 CANTO per block

### USDT Token Supply Market
- Receives .41% of the total block reward
- 0.3 CANTO per block

The program will begin immediately when the proposal is executed on-chain.



As Canto’s third month of liquidity mining incentives nears its completion, early contributors propose to the DAO an extension of the program with the following parameters in order to maintain capital efficiency and align Canto stakeholders.

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