Canto (CANTO) is an EVM-compatible layer-1 blockchain with a core focus on making Decentralized Finance (DeFi) free to use. It forms part of the Cosmos (ATOM) ecosystem of interoperable chains and decentralized applications (Dapps) and has enjoyed a rapid ascent since its launch in August 2022, due to its original vision.
Canto aims to deliver on the early promise of DeFi by providing the best execution layer and incentivization for original development work and making new systems accessible, transparent and fully decentralized. Canto is a grassroots project by a stable of DeFi advocates and didn’t benefit from any venture capital (VC) or presale raises.
## **Who Are the Founders of CANTO?**
Canto was founded by a team of DeFi advocates and is led by DeFi Pulse co-founder Scott Lewis and the founders of Slingshot Crypto and Plex. Lewis serves as leader and contributor, while Plex helps to develop the network’s frontend and free public infrastructure. NeoBase manages the Canto EVM blockchain explorer and also created a useful analytics dashboard to help Canto navigate utility tools such as CLM and the Canto DEX.
## **What Makes Canto (CANTO) Unique?**
Canto has several unique features that set it apart from other blockchains in the DeFi space, with a big part of its success its anti-establishment approach and designs on freeing DeFI tools for mass use. It has no official foundation, token presale, or vested tokens and essentially aims to provide feeless DeFi services to all crypto users.
It does this by establishing what it calls free public infrastructure for three core DeFi primitives, namely decentralized exchanges (DEX), stablecoins and lending market protocols. To this end it has its own Canto DEX, Canto Lending Market (CLM) and NOTE to connect 3 different parties: liquidity providers, stakers and users.
They fit into the Canto ecosystem as follows: Liquidity providers who deposit tokens into the Canto DEX earn CANTO tokens as reward; Stakers govern and expand the Canto Lending Market while also incentivizing work by developers; Users create network effects and enjoy the benefits of zero fees.
To ensure that these tools remain free to use for everyone, its infrastructure does not allow its main DeFi primitives to issue governance tokens or seek rent from future users in the form of fees.
Considering liquidity a free public good, Canto strives to remove all centralized elements from its chain and charges zero fees from liquidity providers such as other protocols, traders and investors who offer arbitrage.
The Canto DEX is not subject to any upgrades, does not have an official interface and will remain free to use through the Slingshot DEX aggregator, whose founders also co-founded Canto. It uses an automated market maker (AMM) mechanism to source liquidity from liquidity pool (LP) trading pairs and rewards their creators with CANTO tokens which can be used as collateral for loans.
Canto’s NOTE stablecoin is a dollar-pegged ERC20 token that serves as Canto’s official unit of account, NOTE is over-collateralized by loans to CLM and perpetually repegged through an algorithmic interest rate policy and be borrowed by providing CANTO, ETH, ATOM or Canto LP tokens as collateral.
How to Buy CANTO on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing CANTO. Some reputable platforms include MEXC、KuCoin、BingX, and others.
Step 2: Register an Account
Here, we'll register an account on the KuCoin(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing CANTO.
Step 5: Purchase CANTO
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of CANTO you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy CANTO.
Step 6: Store Your CANTO
After purchasing, you can choose to store your CANTO in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and CANTO assets, be sure to use a strong password and enable two-factor authentication.
CANTO Price:The Layer 1 blockchain aims to fulfill the promise of decentralized finance through innovative incentive mechanisms and cutting-edge performance. Canto is accessible, transparent, decentralized, and free.The price fluctuates daily, you can go to the exchange: KuCoin to check the price.
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