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

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

    admin1By admin1January 28, 20232 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 you to claim a portion of the transaction fees paid to the network when users interact with smart contracts. An initial percentage split of 20% is proposed and voted on by Canto Governance.”

    Decentralized Finance (DeFi) Tracker DeFi Llama Note Canto’s decentralized exchange (DEX) showed Tuesday’s full-day trading volume at $63.2 million, 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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    Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

    Generated image: In the middle of the journey
    Featured image: Shutterstock/WindAwake





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