Overview
Neofinance envisions a new era of financial efficiencies, unlocked at scale, by deploying offchain assets on protocol rails. The Canto neofinance ecosystem consists of several primitives designed to enable transparent, competitive financial terms.
RWA Backing for NOTE
Neofinance on Canto revolves around a decentralized unit of account – NOTE – which is backed by Real-World Assets (RWAs). At present, NOTE is backed by Canto-native tokenized treasury bills in the form of USYC, fBILL, and ifBILL:
Purchasers of tokenized treasury bills can supply these assets to the Canto Lending Market and borrow NOTE against them, allowing them to achieve superior capital efficiency.
cNOTE
cNOTE is a tokenized deposit of NOTE, and the primary productive asset in the Canto neofinance ecosystem. Any user can permissionlessly supply NOTE to the Canto Lending Market to obtain cNOTE.
To ensure deep liquidity, liquidity mining incentives are in place for cNOTE/USDC and NOTE/USDC concentrated trading pools on Ambient Finance, funded by Canto governance.
Neofinance Coordinator
Neofinance Coordinator is a novel, Canto-native protocol which incentivizes the lending of cNOTE on downstream lending markets. Incentives are paid in CANTO and funded by network governance.
Current downstream lending markets include Vivacity Finance.
For more information, see the technical reference for Neofinance Coordinator.
Last updated