Canto launches over-collateralized stablecoin NOTE, backed by tokenized short-term U.S. Treasuries
L1 Network Canto announces the launch of NOTE, a stablecoin to ensure economic stability in DeFi. It is reported that NOTE is backed by RWA (tokenized short-term U.S. Treasury bills) and is an over-collateralized stablecoin, with each NOTE having more than $1 in collateral. NOTE cannot be issued, can only be lent. Lending interest is managed by a smart contract "accountant", and the interest rate is automatically adjusted according to the market price of NOTE to maintain price stability. All interest income will be deposited into the community treasury and used for public welfare, controlled by Canto governance. This move demonstrates Canto’s commitment to DeFi by providing accessibility, transparency, and decentralization.
Release time
2024-04-10 14:58:12