Canton Network unlocks $113 million in CC tokens as burn proposal nears
CIE News ·
Canton Network released 833.3 million CC tokens worth an estimated $113 million on October 3, 2026. A protocol-level burn mechanism is scheduled for deployment by October 4, 2026.
Canton Network unlocked 833.3 million CC tokens on October 3, 2026, reaching a planned supply cliff. The released tokens carry an estimated value of $113.0 million, representing approximately 1.8% of the total market capitalization. This event brings the total unlocked CC supply to 47.5%.
To counter supply expansion, a mainnet extension burn CIP is scheduled for deployment by October 4, 2026, introducing a permanent burn mechanism at the protocol level. Meanwhile, CoinMarketCap reported that CC rose 4.27 percentage points across a recent 13-hour period, driven by tokenomics shifts and institutional adoption.
Key drivers cited by CoinMarketCap include a seven-day live settlement pilot by Lloyds Banking Group and Visa using a Canton node to settle roughly $750,000 in USDC. Other factors noted include the approval of TreasurySpring as a Super Validator, a planned cLTC asset with the Litecoin Foundation, and regulatory guidance on token buybacks.