Trading volumes on the Canto DEX surged ahead of a key Canto (CantoPublic) Improvement Proposal that aims to fairly incentivize developers and burn base fees from transactions. By shauryamalwa
Trading volumes on the largest decentralized exchange on Canto, a relatively new blockchain, surged by over 200% in the past 24 hours as traders bet on the latest layer 1 hype.
Applications running on Canto locked over $120 million worth of value as of Wednesday. The Canto DEX accounts for over 9% of this ecosystem. It uses smart contracts to match traders and rewards liquidity providers with tokens.The DEX processed over $63 million in trades in the past 24 hours, a bump from Monday’s figures of just $21 million, setting a new record high. The DEX has seen over $330 million in trading volumes this month so far.
According to the proposal, CSR is a fee splitting model for the Canto network that enables smart contract developers to earn from original work by claiming a percentage of the transaction fees paid to the network when users interact with their smart contracts.
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