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.
Canto’s main goal is to be one of the best execution base layers for building decentralized applications. Without fees, Canto enables free liquidity for protocols built on top of it without leveraging its position as the foundation of those applications. With this idea, Canto avoids user-driven ownership by pushing major interfaces to third-party aggregators. Of course, this all sounds great in theory when the protocol is just starting out, but as time progresses, there’s no guarantee that Canto will keep this lack of control intact.
Currently, Canto is distributed through its core contributors and testnet participants. With no official developers, venture capital, foundation, presale, or vesting. Canto is off to a very interesting start. By building a core infrastructure in this way, Canto hopes to create a zero-sum system that will naturally align with what’s in the best interest of everyone who uses the protocol.
Canto has no official developers or team members for the protocol in an attempt to maintain a decentralized system of operation. But that doesn’t mean there’s no totem poll of equity already in place. With almost all tokens released going to the non-team non-devs of Canto, gaming of the system is already starting to play out. The promise that Canto would not have governance changes to the network has already gone out the window. As you can probably guess, the majority of those decisions are being made by the ones in control of the majority share of equity on the network, its founders. So let’s get into some of those changes and how they might affect the future of Canto.
What is the Future of Canto?
While Canto has undergone a few changes since its mainnet was launched last August, nothing about the core functions has been modified. Most changes that have happened on the platform…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
