The Canto blockchain community has agreed to propose LM incentives
The eighth month of liquidity mining incentives by Canto is coming to an end, but the initial contributors have proposed to extend the program with the same parameters in order to maintain the current capital efficiency of the network, and to continue to align with the stakeholders. A Community Pool Spend was also proposed to supplement liquidity mining rewards on Monday, April 17.
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The incentives program of the Canto blockchain, which is focused on security and liquidity mining, has proven to be effective and has increased TVL by 18 % from 110 million to 130 million USD.
The block rewards remain unchanged, with an inflation rate of 5.6 CANTO per block.
The liquidity mining program also remains unchanged, with rewards distributed between the DEX and lending pools:
- CANTO / NOTE: 17.9 CANTO per block
- ETH / CANTO: 7.8 CANTO per block
- ATOM / CANTO: 7.8 CANTO per block
- NOTE / USDC: 1.7 CANTO per block
- NOTE / USDT: 1.7 CANTO per block
- cUSDC: 0.3 CANTO per block
- cUSDT: 0.3 CANTO per block
The proposal passed with a 100% YES vote and was implemented into the Canto blockchain on April 19, 2023.
The Canto blockchain is slowly but surely trying to recover from its decline since the beginning of 2023. With regular adjustments to emissions and streamlining of certain pools, it can attract new users who will provide liquidity for trading, therefore lending on the Canto blockchain will be cheaper and more accessible.
I like the Canto blockchain because there is no central entity and all decisions are made by the community. Therefore, I don't expect any sharp fluctuations in the price of CANTO, but rather, gradual and stable growth. There are no official VC funds here that would unlock liquidity and gradually sell off either, which could ultimately lower its price.
I am also interested in their stablecoin NOTE, which is managed by CantoDAO and collateralized on the Canto Lending Market. Throughout its existence, the price of NOTE has not fallen below 1 dollar but has actually remained above this value.