Layer-1 Crypto Project Erupts 190% in Just One Week Amid Rollout of New Revenue Feature

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 also recorded similar volumes on Thursday and Friday and is currently the 6th most popular DeFi Llama decentralized exchange. Volume dashboard.

Additionally, more than $340 million in value has been bridged from Ethereum (ETH) to Kant at the time of writing. Dashboard Developed by Dan Smith, Senior Research Analyst at Blockworks.

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