Canto: Launches the over-collateralized stablecoin NOTE, backed by tokenized short-term U.S. Treasury bonds

ChainCatcher news, L1 network Canto announced on social media the launch of the stablecoin NOTE to ensure economic stability in DeFi.

It is reported that NOTE is backed by RWA (tokenized short-term U.S. Treasury bills) and is an over-collateralized stablecoin, with each NOTE having more than 1 dollar in collateral. NOTE cannot be minted but can only be lent out. The lending interest is managed by the smart contract "accountant," and the interest rate is automatically adjusted based on the market price of NOTE to maintain price stability. All interest income will be deposited into the community treasury for public welfare, controlled by Canto governance. This initiative demonstrates Canto's commitment to achieving DeFi, providing accessibility, transparency, and decentralization.