Before we get started, this is not a recommendation or endorsement to buy any token mentioned. DeFi Dad holds no CANTO and as always, will disclose if ever writing about a protocol/token he holds a position in.
You might be wondering, “What the hell is Canto?!” If you missed the recent write-up by Jesse Walden in Coin Review, and still didn’t notice CANTO is trending as one of the “most viewed” tokens on CoinGecko, we got you covered today.
Canto is a blockchain secured by Canto validator nodes and an EVM execution layer via Cosmos SDK. Unlike most Cosmos chains, Canto is EVM-compatible, meaning users can conveniently connect their familiar crypto wallets such as MetaMask. Canto was built to “deliver on the promise of DeFi” enabling new digital finance that would be accessible, transparent, decentralized, and free. It is designed to support “free public infrastructure,” while eliminating common centralized incentives in DeFi. In Canto’s own words:
- There is no official foundation.
- There was no presale.
- There is no vesting.
- There are no venture backers.
Before we continue, I would push back on the nuance of these points above–yes there is officially no foundation, presale, vesting, or venture backers but make no mistake, there is clearly a core community/team of contributors behind Canto (who btws received 130M CANTO upon token genesis), who likely injected capital to jumpstart Canto liquidity like any DeFi startup. The most notable of those initial contributors is Scott Lewis, a legend of DeFi as the founder of DeFi Pulse, the person who coined TVL, the inventor of the first DEX aggregator, and much more.