CANTO
Crypto Overview
Overview
Canto is a layer-1 blockchain built using the Cosmos SDK that aims to provide a free public infrastructure. It launched in August 2022 with a focus on making DeFi accessible and free to use through what they call 'Contract Secured Revenue' (CSR).
Purpose and Utility
The primary purpose of CANTO is to serve as the native token for the Canto blockchain, used for transaction fees, governance, and securing the network through staking. The network implements unique features like Free Public Infrastructure (FPI) and Contract Secured Revenue (CSR) to make DeFi more accessible.
Current Usage
The token is actively used for its intended purposes: network security through staking, governance voting, and transaction fee payment. The ecosystem hosts various DeFi applications, including DEXes and lending protocols.
Business Model Analysis
The core business model revolves around providing blockchain infrastructure and DeFi services. While some aspects like the DEX trading align with Islamic principles, the lending protocols present concerns from a Shariah perspective as they involve interest-bearing mechanisms.
Development Activity
The project maintains active development with regular updates to its core protocol and ecosystem applications. The team consistently pushes updates to their GitHub repositories and maintains transparent communication about development progress.
Token Distribution
CANTO launched with no pre-mine, no venture capital allocation, and no team allocation. The token distribution occurred through a fair launch mechanism, with all tokens being distributed through block rewards to validators and delegators.
Crypto Impact
To assign a comfort level investing in CANTO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to CANTO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.