A roundup of 24 noteworthy projects on Canto
There are many ecological DeFi projects in Catno, while projects in other tracks are not well-developed.Author: Leo, BlockBeats
Recently, the Cosmos-based L1 public chain Canto has gained significant attention. With CANTO breaking $0.48 (a historical high) and Canto's TVL surpassing $200 million (a historical high), the Canto ecosystem has entered a growth phase. BlockBeats has summarized the Canto ecosystem projects as follows:
DeFi
cantoswap.fi is an AMM protocol and liquidity pool designed for efficient trading between crypto assets. The trading activity on cantoswap.fi generates fees as income for liquidity providers, thus creating a decentralized market and trading experience. cantoswap.fi utilizes decentralized liquidity pools instead of traditional limit order books to facilitate trading.
The cantoswap.fi protocol is designed to be permissionless, with services fully open to the public. The team has no ability to selectively restrict access, allowing anyone to swap, provide liquidity, or create new markets freely. Each version of cantoswap.fi will rely on the Canto chain.
forteswap is a Dex on Canto where users can swap and add liquidity for Canto-related asset tokens.
Encanto is the LP reward engine for forteswap. Through Encanto, users can stake ForteSwap LP tokens in its pool to earn ENC token rewards, with highly incentivized liquidity likely to yield positive investment returns.
LeetSwap is an emerging Dex on the Canto chain, focusing on maintaining a secure, fast, and user-friendly experience. Its token is LEET, and this Dex currently features zero trading fees, liquidity mining, staking, dynamic Jeet tax, community farming, and community token incentives.
Slingshot is a Dex aggregation platform that currently supports Arbitrum one, Arbitrum nova, BNB chain, Canto, Optimism, Polygon, and will soon launch on Osmosis. Compared to traditional Dex platforms, Slingshot focuses on usability and user experience, providing a website interface with price trends for crypto tokens, low gas transactions, and on-chain social features where users can send messages.
Thoth is an award-winning project from the Canto Online Hackathon that utilizes internal cryptographic technology from the Ethereum EVM to bind parts of the real world to legally binding protocols.
Y2R Finance is a DeFi yield optimizer project that maximizes user returns from various LP, AMM projects, and other liquidity mining in the DeFi ecosystem through a set of smart contracts and automated yield strategies, offering significant advantages over manual operations. Y2R automatically changes users' APY to APR. Its smart contracts are deployed on Canto, and Y2R aims to build free public infrastructure, returning control of the protocol to users through complete decentralization.
Leverage Finance is a decentralized lending protocol where users can join independent lending pools as lenders or borrowers. Lenders can provide tokens to any lending pool for passive income without incurring permanent losses. Borrowers can deposit LP tokens in the lending pool to borrow other tokens, allowing them to leverage their LP tokens to acquire more LP tokens, thus enabling liquidity mining and additional LP rewards.
NFT Market
Alto is a zero-fee NFT marketplace on Canto that packages collectibles and intellectual property as NFTs, allowing for immutable, permissionless, non-custodial trading and deep liquidity through DeFi. While Alto does not charge fees, creators can choose to set royalties and licensing rates for their NFTs. Currently, the top NFT is Canto Longnecks, with a trading volume of 3.95 million CANTO, a floor price of 3700 CANTO, and 740 holders.
Canto Moon is an upcoming NFT trading market on Canto, with a limited number of NFT series listed. Notably, Canto Moon has its own token CMOON, which can be used for liquidity mining, staking, and minting NFTs.
Cross-Chain Bridges
Gravity Bridge is a Cosmos-based blockchain that supports IBC, currently with 166 validators, allowing Ethereum assets to cross into the Cosmos ecosystem. Its mechanism is based on an "external validation" model. The smart contracts themselves do not rely on any proxy contracts but depend on the entire set of validators in the network applying a multi-signature method, allowing the network to operate in a trustless and permissionless manner. Using the complete set of validators on the Gravity Bridge blockchain to send and relay transactions is different from other blockchains that use centralized multi-signatures or private nodes and signer groups for cross-chain bridging.
Synapse is a universal interoperability protocol that supports secure cross-chain communication. Synapse connects blockchains by providing a scalable cross-chain messaging protocol that supports assets, smart contract calls, and more. By leveraging Synapse, blockchains can easily and securely collaborate, allowing developers to build true cross-chain applications, including cross-chain Dex, lending platforms, margin systems, derivatives markets, yield aggregators, and more.
Infra
Ansybl is a PoS infrastructure and service provider dedicated to supporting PoS blockchain networks by providing reliable and secure validator and staking services.
CANTO NAME SERVICE is Canto's domain name service, employing an "anti-monopoly pricing mechanism." For CNS, there is no arbitrary pricing based on character length; there is no large-scale unauthorized occupation; and there are no additional fees for registering expired domains. 1-2 domain characters will be available upon release, launching on February 6. Click to learn more
NeoBase is a protocol focused on user wallet security, allowing users to add an "insurance measure" to their wallets. Users can decide the ownership of this wallet insurance measure on the protocol, allowing for one or multiple owners to control it. Wallet confirmations require multi-signature approval for authorization, enhancing the security of wallet authorizations, with a certain Gas fee required.
Canto Public Messaging Service
CMPC is an on-chain messaging protocol on Canto that allows messages to be sent to relevant Canto wallet addresses in the form of letters. Users need to purchase stamps, with each stamp valued at 10 CANTO. The protocol also includes a Gas Station feature, allowing donations of Gas in the form of minting NFTs, with donation units set at 50 CANTO. 20% of each donation amount is used to maintain the service, while 80% goes to the community Gas pool.
Meme Coin
Canto Inu (CUNU) is a Meme Coin resembling the DOGE icon, allowing for staking of Canto Native Dex LP tokens for mining, increasing users' CANTO holdings. By depositing CINU or CANTO LP tokens, users can earn WCANTO, with an initial supply of 10 trillion CINU.
Happy Rabbit is a Meme Coin project on Canto based on the famous meme "follow the white rabbit." Its liquidity comes from wallets and has not raised funds from the community. The token is RAB, and RAB stakers, as well as those who deposit RAB/ATOM and RAB/CANTO pairs into the Forteswap pool, will receive rewards. Happy Rabbits NFT has also been launched, with a total supply of 2222.
GameFi
Kanto Game
Kanto Game is the first chain game based on Canto, having established the largest DC community among all Canto projects. The gameplay is similar to Pokémon, where players search for Kantmon on the map and battle them, choosing their owned Kantball to capture Kantmon.
Betoad Gaming is a dice game on Canto, with no official website announced yet. The team is researching the Casino-fi protocol, and besides gaming, users can earn rewards by depositing Canto-related tokens (BETO, CHIP, NOTE, WCANTO).
Wallet
Currently, there are not many wallets supported by Canto, totaling four: MyEtherWallet multi-chain wallet Enkrypt; Cosmos ecosystem wallet Keplr; Terra's non-custodial wallet Leap Wallet; and MetaMask.
Overall, the Canto ecosystem has many DeFi projects, while other track projects are not deeply developed. Many projects come from its hackathon, and the development, use cases, and users of these projects are mostly "in progress." However, they are worth paying attention to, and we look forward to Canto conducting more research and improvements to become an attractive ecosystem.
