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Canton Coin is used to pay for network services such as throughput, messaging, and synchronisation. It operates on a burn-mint equilibrium model, ensuring token issuance is directly tied to real service usage.
Canton Coin was developed by Digital Asset Holdings, LLC, a US-based technology company responsible for the development of the Daml smart contract language. The protocol is governed by the Canton Foundation, a non-profit entity supporting open development, infrastructure access, and ecosystem growth.
CC was launched on July 25, 2024
Canton Coin acts as a payment mechanism for accessing services within public network infrastructure, primarily the Global Synchronizer. Services such as bandwidth, messaging, and data throughput are priced in USD-equivalent terms but paid in CC. Canton Coin operates under a burn-mint equilibrium model: CC is burned when used to pay for services (pegged to a USD fee schedule) and minted to validators and apps based on the USD-denominated value delivered. A dynamic on-chain exchange rate between CC and USD is maintained by Super Validator oracles. The network targets approximately 2.5 billion CC burned and minted per year, balancing supply and utility over time. Canton Coin is optional for private or closed networks, allowing flexibility in regulatory or enterprise environments.
