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.
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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