Original title: "Humble Farmer's CANTO Guide - Earn 4 digits APR farming on CANTO"

Original compilation: 0x214, BlockBeats

Original compilation: 0x214, BlockBeats

The past few days have been flat, but markets are still expected to experience some volatility ahead of the August 26 Jackson Hole annual meeting of central banks. To remind myself not to act impulsively, I just posted a sticky note on my computer monitor that read "No Overtrading!".

In the meantime, I've been working on a decentralized exchangePerpetual ProtocolIt is relatively easy to obtain income on the Canto public chain, and I will focus on the latter in this article. If you are interested in earning more than 600% annual interest rate with the NOTE stablecoin, you might as well take a look below.

Canto was initially a fork of the EVMOS chain, aThe EVM based on the Cosmos SDK is compatible with Layer1 public chains.Canto claims to be a completely decentralized blockchain, with no Token pre-sale, no official team, and no VC capital support. The project is built by several core contributors including DeFi OG, Defipulse and SlingshotScott Lewis。

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First of all, we need to understand that building a new public chain is very risky, after all, Canto and its infrastructure have not been "combat tested". I am not specifically here to tout (shill) Canto, and the number of CANTO Tokens I actually own is not much. At present, Canto is still small in size and has poor mobility. However, there are some opportunities for yield farming with lucrative yields.

Personally, I think the idea of ​​Canto providing core DeFi primitives as a free public infrastructure is experimental, and I look forward to Canto's follow-up development.

Canto does not rely on third-party builders, but independently builds three basic DeFi primitives: decentralized trading platform, Canto lending market, and Canto unit of measurement Token NOTE. Canto provides these services to users almost free of charge, and none of these products will issue any governance tokens or charge fees.

While other existing protocols serve their communities more like "private parking by the hour", Canto's Free Public Infrastructure (FPI) is more akin to giving its community members "free parking on city streets" .

official documentofficial documentCross-chain bridge

Cross-chain bridge

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Before you start, you can ask your friends for some CANTO Token as a gas fee or joinCANTO discordimage description

Canto bridge interface

Since I don't have much spare funds on the ETH mainnet, I useacross.ioBridge some assets from Arbitrum, and then bridge wETH from the mainnet to Canto, the following are the detailed steps.

Step 1Before bridging assets to Canto, you will be prompted to generate a Canto public key for your Fox wallet address. Only one public key needs to be generated for each wallet address. This way you can sign Cosmos transactions from Fox addresses without interacting with the private key.

Step 2 Select the Token you want to bridge and enter the amount. Please note that for quantities less than 1, please manually enter the number 0 (eg 0.99) in the ones place.

Step 3Confirm the approval transaction in your wallet to approve the transfer of the asset to the cross-chain bridge.

Step 4Sign the information in the wallet to confirm the transfer.

After successfully bridging assets to Canto, you need to convert Canto native assets to Canto EVM assets to use all dApps. You can use theconvert pagesecondary titleofficial documentCheck it out.

DEX & Mining

If you want to exchange it for other Tokens, you can useSlingshot, I have to say that the chat room function on the redemption page is quite funny.

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Canto LP interface

After adding LPs, to start earning CANTO rewards, you must navigate toloan pageimage description

CANTO/ATOM: 1,817%

CANTO/ETH: 1,687%

CANTO/NOTE: 1,259%

NOTE/USDC: 622%

NOTE/USDT: 629%

USDC: 9.33%

USDT: 19.6%

Current APR

NOTE Token is an over-collateralized ERC-20 Token that is soft-pegged to the US dollar. NOTE can only be obtained by storing USDT, USDC and NOTE and borrowing from the lending market. The NOTE price has fluctuated since launch and is 30% above the anchor price. Before purchasing, lending or injecting NOTE Token liquidity, please consider that NOTE has the risk of unanchoring.

My current strategy on Canto is to mine NOTE/USDT Token pairs with a small portion of my investment portfolio, and then transfer CANTO Token rewards to the CANTO/ETH pool. If you don't want to choose the ETH Token pair, you can choose to use the CANTO/NOTE pool).

I do think that CANTO Token may have some upside in the short term, although it has an extremely obvious inflation tendency (but I prefer to get CANTO through mining rather than buying in bulk). Even with four-figure APR, Canto's current TVL is just over $20 million (though growing fast). according toDUNEimage description

Dune Dashboard

Canto Quant, one of Canto's contributors, also sorted out Canto's ecological progress on his Twitter.project collection。

Given that Canto is still in its early stages, there are many memecoins that are expected to rug in the near future, so please carefully decide where your hard-earned Token goes. The best way to find reliable new projects is to join the CANTO discord and check out the "canto native projects" channel.

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