Crypto

Layer 1 Crypto Project Explodes 190% in Just One Week Amid Rollout of New Revenue Features

By Delbert Williams IIJanuary 28, 2023No Comments2 Mins Read

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An under-the-radar Layer 1 crypto project hits new all-time highs this week amid the rollout of new revenue features.

CANTO, a permissionless general-purpose blockchain that runs the Ethereum Virtual Machine (EVM), is trading at $0.403 at the time of writing, up more than 120% from trading seven days ago.

The 196th-ranked crypto asset by market capitalization hit a new all-time high of about $0.442 at some point on Friday.

Canto implemented a fee split model called “Contract Secured Revenue” (CSR) on Thursday. This allows users to earn a portion of the protocol’s transaction fees.

describe the project

“CSR allows us to charge a portion of the transaction fee paid to the network when a user interacts with a smart contract. An initial 20% percentage split is proposed and voted on by Kant Governance.”

Decentralized Finance (DeFi) Tracker DeFi Llama Note Canto’s decentralized exchange (DEX) saw daily trading volume of $63.2 million on Tuesday, up more than 200% from the previous day.

Source: DeFi Llama/Twitter

DEX recorded similar volumes on Thursday and Friday, becoming the sixth most popular decentralized exchange on DeFi Llama’s volume dashboard.

Additionally, more than $340 million in value has been bridged from Ethereum (ETH) to Canto at the time of writing, according to a dashboard developed by Dan Smith, Senior Research Analyst at Blockworks.

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Delbert Williams II

Born in the early 80s in Milwaukee, Wisconsin, Delbert Williams II has always had a passion for writing. Even in high school, he earned excellent grades in English and writing classes. After attending John Marshall High School, he graduated from Project Stay Alternative High School in Milwaukee. From there, Delbert attended Milwaukee Area Technical College, where he studied music and communications. While he enjoyed these fields, his love for writing remained strong. In 2019, Delbert founded Hard Stack Street Mag, a publication that quickly gained a following for its unique and engaging content. As the founder and editor-in-chief of the magazine, he has worked tirelessly to produce quality articles that cover a wide range of topics, including music, art, culture, and politics. Now 42 years old, Delbert continues to pursue his passion for writing and journalism. Through Hard Stack Street Mag, he has created a platform that allows him to share his voice and perspective with readers from all over the world. With a strong background in writing and a deep understanding of the power of storytelling, Delbert Williams II is a writer to watch. He is dedicated to producing content that is both informative and engaging, and he is committed to using his platform to shine a light on important issues that are often overlooked by mainstream media.

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