Canton

Canton Network is a privacy-enabled layer-one network where banks and other regulated financial institutions can tokenize their assets and connect their applications to one another. Applications on the network use Daml, the smart contract language developed by Digital Asset, and the details of a transaction are shared only with the parties involved. The applications of different participants synchronize through a decentralized coordination layer called the Global Synchronizer, overseen by the Canton Foundation. Canton Coin (CC) is the native token of this layer.

The economic model of CC is based on a burn-and-mint balance. Users pay fees for network traffic; fees are set in dollars but are covered by burning CC. In return, super validators (Super Validators), validators and application providers that facilitate transactions earn the right to mint new CC according to their contributions. Over the long term, the aim is for the amounts burned and minted to balance out depending on network usage. Super validators also play a role in the governance of the Global Synchronizer.

Factors that may affect the CC price include actual institutional usage of the network and the associated fee burn, the amount of tokens minted as rewards, partnerships in the tokenization field and financial regulations. Lzzo.com provides DefiLlama's dollar-denominated reference price for Canton; the historical values on the chart are also taken from DefiLlama.