Page 4 · The Coin
Ten billion coins a year, no cap
Canton Coin is the utility token of the Global Synchronizer. Users burn it to buy the capacity to submit transactions, and the network mints new coins each round to application providers, validators and super validators. The whitepaper sets a schedule and the live configuration matches it. Two governance decisions since launch have changed what is burned and where unclaimed coins went.
The rules as written
A hundred billion over ten years is an authorisation. No ceiling is published
The Canton Coin whitepaper, published by Digital Asset in July 2024, states: “Over the first ten years of operation of the Global Synchronizer, 100 billion Canton Coins can be minted, with availability split 50/50 between infrastructure providers and application providers. Following the first ten years, 2.5 billion Canton Coins can be minted yearly, with approximately 75% going to application providers and 25% going to infrastructure providers.”
Issuance does not stop at year ten. The Canton Network blog states: “There’s no hard cap on issuance. However, every transaction on Canton burns CC, offsetting new emissions.” CoinGecko and CoinMarketCap both return a null maximum supply, and both report circulating supply equal to total supply.
On the starting allocation the same blog states: “No pre-mine, no VC allocations: Every token in circulation has been earned by delivering utility.” The whitepaper describes no genesis allocation, and neither aggregator tracks a locked or unvested tranche.
Fees work by burning. The whitepaper states: “Instead of paying fees directly to network infrastructure providers, all fees for using Canton Coin, and for creating a traffic balance on the Global Synchronizer, are burned by the user who submits the Canton Coin transaction.” Traffic is the capacity to submit transactions, it is bought with Canton Coin, and it cannot be converted back.
The rate has halved twice since launch and stands at 10 billion coins a year
Canton Coin authorised for minting per year, against years since 1 July 2024. Linear axis from zero.
Source: Canton Coin whitepaper, Digital Asset, July 2024, figure 4; confirmed against the live issuance config in the Global Synchronizer DSO snapshot read 15 September 2026. The curve reaches to year 12; issuance continues past it.
The super validator share of authorised issuance was 80% in the first six months and is 20% now
Share of each year's issuance by recipient class, per phase of the curve. Each bar is 100% of its own width.
Source: Canton Coin whitepaper, Digital Asset, July 2024, figure 4. The phase running now is confirmed by the live issuance config: appRewardPercentage 0.62 and validatorRewardPercentage 0.18, read 15 September 2026.
At 190,128.5 coins a round and 10-minute rounds, the phase running now authorises 117,880 coins a round to application providers, 34,223 to validators and 38,026 to super validators.
Against that schedule, 46.526 billion coins have been authorised since round 0, counted on the round clock rather than the calendar. CoinGecko and CoinMarketCap both report a supply of 39.592 billion coins. The difference, 6.935 billion coins, is coins burned since launch plus issuance capacity that no party claimed. Separating the two needs the Scan API, which is allowlisted.
Two decisions that changed the rules
Transfer fees went to zero, and unclaimed rewards went to the foundation
A Canton Improvement Proposal, or CIP, is the numbered document by which a change is proposed and voted on. CIP-0078, approved on 15 September 2025, set every Canton Coin transfer fee to zero: the create fee, the transfer fee and all three of its rate steps, and the lock holder fee. The live configuration read on 15 September 2026 shows 0.0 in the create fee, the initial transfer rate and the lock holder fee, and an empty step table. The change is in force.
That leaves traffic purchase as the burn. CIP-0078 measured the split itself: “In the 3 month time period from 2025-05-14 to 2025-08-14, the total burn on MainNet was 446'680'130 CC out of which 423'475'365 CC were due to traffic purchases. Thus about 94.8% of the burn was due to traffic purchases.”
CIP-0067, approved on 21 July 2025, authorised “a one-time allocation of historical unclaimed rewards from the Canton validator reward pool to the Global Synchronizer Foundation (GSF)”, and states: “At time of drafting this note, it is expected that 1.6 to 1.7 billion CC will transfer to the GSF from this action”. The proposal names no lock-up and no vesting schedule. Whether the transfer executed, and the final amount, is not established by any document read.
41.42% of all super validator reward weight is escrowed and not yet received
Super validator reward weight by organisation, top 20 and the rest combined. Active weight in dark, escrowed weight in red. Linear axis from zero.
Source: Canton Foundation MainNet configuration, approved-sv-id-values.yaml, read 15 September 2026. Node weights match the Global Synchronizer DSO snapshot read the same day. Escrow status is the configuration's own ghost-party assignment.
The Canton Foundation node has 1,931,000 of weight, which is 51.87% of the pool, and passes all of it through to 52 beneficiary parties. Of that, 100,000 is assigned to the Foundation itself, which is 2.69% of the pool. Voting is separate: each of the 13 node identities casts one vote and 9 are needed to pass, so reward share is not voting share.
The market
Market capitalisation and fully diluted valuation are the same number
Market capitalisation is the coin price multiplied by the coins in circulation. Fully diluted valuation, or FDV, is the price multiplied by every coin that will exist. For Canton Coin the two are identical at $3,822,920,470, because CoinGecko reports circulating supply equal to total supply at 39.592 billion coins, with no maximum supply and no locked tranche. The Canton Network blog states the same identity: “For Canton Coin, Fully Diluted Valuation (FDV) and Market Capitalization are effectively the same”.
On 15 September 2026 the price was $0.096559, the rank 27 by market capitalisation, and 24-hour volume $8,864,797. The all-time high is $0.194152 on 3 February 2026 and the all-time low $0.059024 on 6 December 2025.
CoinGecko’s price series begins on 10 November 2025 at $0.135743. Before a public listing the dollar rate used on chain was administered. CIP-0002 set a fixed $0.005 oracle price. CIP-0092, approved 7 November 2025, moved super validators to market-based price feeds over a ten-day transition beginning at the first exchange listing. The exact listing timestamp and venue are not established; the window is 7 to 10 November 2025.
| Venue | Pair | 24h volume | Share of reported volume |
|---|---|---|---|
| Bybit | CC/USDT | $2,907,028 | 31.97% |
| Kraken | CC/USD | $1,197,406 | 13.17% |
| Temple Digital Group | CC/USDCX | $910,697 | 10.02% |
| OKX | CC/USDT | $693,953 | 7.63% |
| Bybit | CC/USDC | $634,043 | 6.97% |
| Upbit | CC/KRW | $579,157 | 6.37% |
| KuCoin | CC/USDT | $387,565 | 4.26% |
| Bitget | CC/USDT | $364,674 | 4.01% |
Thirty-four tickers in total, $9,093,232 of converted 24-hour volume across them. Bybit takes 38.94% across two pairs. Coinbase, Binance, Gemini and Bitstamp list no Canton Coin pair. Coinbase’s own price page states the coin “is not tradable on Coinbase.” CoinGecko does not generally index over-the-counter desks, so their absence from the table is not evidence either way.
The price has traded between $0.062262 and $0.188236 since the first listed day
Daily price in US dollars, 310 points from 10 November 2025. Linear axis from zero.
Source: CoinGecko market chart, daily interval, fetched 15 September 2026. The series reaches back 365 days, which covers the traded history: CoinGecko's coverage starts 10 November 2025.
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Canton Coin · CC
Price, USD
$0.0966
Market cap
$3.82B
Volume, 24h
$8.9M
Change, 24h
+1.39%
Filed reading 15 September 2026, CoinGecko at 00:06 UTC · rank 27 by market capitalisation · live figures load when CoinGecko answers
Global Synchronizer · DSO state
Super validator nodes
13
Open mining round
113,220
Coins authorised per year
10B
Votes to pass
9 of 13
A mining round is the ten-minute cycle in which the network prices Canton Coin and authorises new coins. These figures come from the DSO, the governance contract of the decentralised synchronizer. The year’s issuance splits 62% to application providers, 18% to validators and 20% to super validators.
Filed reading 15 September 2026, round 113,220 opening 00:11 UTC · live figures load when the synchronizer answers
Sources for this page
- Canton Coin whitepaper, Digital Asset, July 2024 · accessed 2026-09-14
- CIP-0078, Canton Coin fee removal · accessed 2026-09-14
- CIP-0067, one-time allocation of historical unclaimed rewards · accessed 2026-09-14
- CIP-0092, transition to dynamic market feeds · accessed 2026-09-14
- CoinGecko, Canton market chart, daily · accessed 2026-09-15
- CoinGecko, Canton tickers · accessed 2026-09-15
- Canton Foundation super validator configuration · accessed 2026-09-15