CANTO (CANTO)

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Blockchain and DeFi Use Cases

CANTO is a layer-1 blockchain built to deliver on the promise of decentralized finance (DeFi). It focuses on providing free public infrastructure (FPI) for DeFi services, aiming to make financial systems accessible, transparent, decentralized, and feeless. It supports core DeFi primitives like decentralized exchanges (DEX), lending markets, and staking.

Token Utility

CANTO tokens are used to pay gas fees on the blockchain and can be staked with validators to earn rewards. Liquidity providers on the CANTO DEX earn CANTO tokens as rewards, and these LP tokens can be used as collateral in the CANTO Lending Market. Stakers help govern and expand the lending market and incentivize developers.

Ecosystem Features

• CANTO DEX: A decentralized exchange with zero fees for liquidity providers and users.
• CANTO Lending Market (CLM): Allows borrowing and lending using LP tokens as collateral.
• Governance and Incentives: Stakers govern the lending market and support ecosystem growth.
• Free Public Infrastructure: No official foundation, no token presale, no vested tokens, and no governance tokens to ensure a rent-free, community-driven ecosystem.

Technical Aspects

CANTO runs on the Ethereum Virtual Machine (EVM) for compatibility and uses Tendermint Core consensus via the Cosmos network for security and speed. It aims to foster fairness and equity in DeFi by removing fees and centralized control.

Pros

• CANTO is built on a strong foundation using Tendermint consensus and Cosmos SDK, ensuring speed, security, and scalability.
• It is EVM-compatible via Ethermint, allowing developers to deploy Ethereum smart contracts easily.
• The ecosystem offers zero fees for liquidity providers, making liquidity free for protocols, traders, and arbitrageurs.
• CANTO focuses on Free Public Infrastructure (FPI), meaning no governance tokens or fees are charged, promoting decentralization and accessibility.
• It supports core DeFi primitives like decentralized exchanges (DEX), lending markets, and stablecoins as public utilities.
• The project is community-driven with no official foundation or token presale, encouraging grassroots development.
• Incentives are designed to encourage liquidity and developer participation with a long-term emissions schedule.
• CANTO aims to solve issues of centralization and rent-seeking common in other blockchains.

Cons

• CANTO has underperformed compared to the overall crypto market and similar smart contract platforms recently.
• The project is relatively new and experimental, so its long-term sustainability and innovation remain to be proven.
• The core public infrastructure lacks direct user interfaces, requiring users to rely on third-party platforms for trading and interaction.
• The $NOTE token, which supports the free public infrastructure, carries some relative risk.
• The team operates anonymously as a loosely organized collective, which may concern some users.
• Market capitalization and trading volume are relatively low compared to major cryptocurrencies, indicating limited liquidity and adoption so far.

Founders

The founders of CANTO are Arijit Pingle and T K Kwon.

Key Contributors

Besides the founders, Scott Lewis, co-founder of DeFi Pulse and Slingshot Crypto, is a significant contributor and leader in the project. The Plex team also contributes by developing the network’s frontend and Free Public Infrastructure. The team operates as a loosely organized collective of chain-native builders and contributors.

Investors in CANTO

CANTO has one known institutional investor: Visary Capital. There are no official token presales or multiple investors publicly listed. The project was founded by a team of DeFi advocates including Scott Lewis (DeFi Pulse co-founder) and the founders of Slingshot Crypto and Plex, but investment mainly comes from Visary Capital. Additionally, crypto venture fund Variant has invested in CANTO, though the size of their position is not publicly disclosed.

Halal Status of CANTO

CANTO's halal status depends on its compliance with Islamic finance principles. Since CANTO is a blockchain token used for paying gas fees and staking, it can be considered halal if it avoids prohibited elements like riba (interest), excessive uncertainty (gharar), and gambling (maysir).

Key Considerations

• Purpose and Use: CANTO is used for transaction fees and staking, which can be halal if staking supports network security rather than generating interest through loans.
• Compliance: Like other cryptocurrencies, CANTO must be evaluated for Shariah compliance, ensuring it does not involve interest or speculative practices.
• Scholarly Views: Islamic scholars have mixed opinions on crypto; some allow tokens that represent real economic activity and avoid forbidden elements.

Summary

No definitive ruling exists specifically for CANTO, but if it meets Islamic finance criteria—such as no interest, no excessive speculation, and real utility—it can be considered halal.