CBTC on Canton: Apr 15 to 21

Most activity on Canton is private by design. CBTC is one place where usage is publicly visible, so here is what the last week looked like.

Peak daily unique users hit 664 on Apr 21, up about 6% week-on-week. Weekly volume jumped 176% to 180.43 CBTC, and transactions were up 70% to 87,930. Supply stayed flat at 25.88 BTC, still 1:1 backed.

By the numbers (Apr 15 to 21)

  • TVL (derived): 25.88 BTC (~$2.0M)

  • CBTC transactions: 87,930

  • CBTC volume: 180.43 CBTC

  • Total transfers: 417,965

Heads-up: CBTC v1.2.0 is live on mainnet. If you're running a minter or hosting one in your wallet, check you've uploaded the latest DAR and that your minter party ID has a Utility Credential. If you're integrating the libraries, upgrade cbtc-lib and canton-lib to v0.4.0. Everyone else, nothing to do.

Six new places to use CBTC on Canton

Six integrations in the last four weeks, spanning DEXes, wallets, and mining infrastructure:

  • Helvet Swap. AMM DEX. CC/CBTC pool running on DevNet.

  • Rho Labs. Perps DEX. Live minter integration.

  • Walley by K2F Labs. Minter infrastructure. v2 partnership in place.

  • Nightly Wallet. Wallet. Canton support in development.

  • Cantex. DEX. Integration agreed.

  • F2Pool. Mining pool. CBTC Institutional Incentive Program 2.0 live.

Under the hood: Canton economics and governance

How Canton Coin actually works: the burn-mint equilibrium

Canton prices fees in USD, burns Canton Coin every time you use the network, and mints new Canton Coin to pay the people running infrastructure and apps. Fees and issuance net out, so supply tracks real usage rather than speculation. The post walks through the mechanism, where equilibrium comes from, and what happens when rewards start paying for activity count instead of actual value, something Canton governance has just corrected.

DecParty: multi-party governance for Canton Network

Canton gives builders privacy, deterministic finality, and an institutional-grade execution environment. DecParty adds a governance layer on top: a clean way for multiple organizations to jointly run an application and share control over its assets. It's already in production securing CBTC. The white paper covers the design decisions, the security model, and what you can build on top.

The signal

That's the signal this week. If you're building on Canton, we'd like to hear from you.

BitSafe builds decentralized, privacy-enabled infrastructure and compliant digital asset products on the Canton Network. As the team who brought Bitcoin to Canton, BitSafe's threshold-governed multi-sig infrastructure distributes custody and governance, eliminates single points of failure, and enables institutions and developers to launch trading venues, deploy vaults, and build compliant financial products across the ecosystem.

Keep Reading