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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.
Neofinance on Canto leverages real-world assets (RWAs). Initially, tokenized treasury bills can be purchased by whitelisted parties in the form of $USYC, a Canto-native token issued by Hashnote.
$USYC
$USYC is enabled as collateral in the Canto Lending Market with a collateral factor of 0.99. This allows holders to borrow $NOTE against tokenized treasury bills, thereby achieving superior capital efficiency.
Other tokens representing a range of RWAs will be deployed on Canto in months to come.
$cNOTE is a tokenized deposit of $NOTE, the native unit of account on Canto. Any user can permissionlessly supply $NOTE to the Canto Lending Market to obtain $cNOTE.
$cNOTE is the primary productive asset in the Canto neofinance ecosystem, since holders earn a supply APR on the underlying $NOTE supplied to the Canto Lending Market.
To ensure deep liquidity, liquidity mining incentives for a $cNOTE <> $USDC concentrated trading pool on Ambient Finance are funded by Canto governance.
Last modified 24d ago