What is Canto Network?
In this week's Wealth Mastery Altcoin Review, we’ll discuss the following topics and learn about the Canto Network.
- What is Canto Network?
- What is the Future of Canto?
- What are CANTO & NOTE Altcoins?
- How do you Buy CANTO?
- Is Canto a Good Investment?
What is Canto Network?
Canto is a new Layer-1 Network that operates using the Cosmos SDK technology. Canto is a purpose-built decentralized finance blockchain that believes DeFi should exist as Free Public Infrastructure (FPI). This novel approach to DeFi is the opposite of most pay-to-play platforms and makes DeFi on Canto more closely connected to freeware. This means that the Canto decentralized exchange can not be upgraded, will not have its own token, and will operate ungoverned indefinitely.
With no additional platform fees to use Canto, liquidity transforms into a free public good. This might sound confusing since we already know there's a CANTO token. But, that token is only used for lending services on the protocol and governance of those staking rewards. There’s technically no rent extraction happening at the base layer of the network, but that doesn’t mean it's cheap to use. Additionally, a revenue system for developers was passed that will be tied into NFTs. Canto also integrates the NOTE token as an over-collateralized stablecoin balanced on the platform through automated interest rate policies, but neither token is supported by Trezor or Ledger Hardware Wallets.
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