Canton Magazine — $CC Network Analytics

CC Price

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— cap

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Market Cap

—

— circulating

Daily Fees Burned

—

B/M Ratio

—

Liquid: —

ADV (Repo)

—

— to deflation

Next Reduction

—

~Jul 2029 (next reduction)

Daily Supply Flow

Breakdown of daily minting, burning, and net float change

Daily Mint vs. Burn —

Daily Mint —

—

Daily Burn (Fees) —

100% permanent destruction

SV Lockup (CIP-0105) —

19.5% of daily mint locked in Super Validator vaults

Net Liquid Float Δ —

All-time burned —

Annual fee run rate —

Burn / Mint Ratios

Standard B/M Today —

Liquid B/M (incl. SV lockup) —

B/M at Jul 2029 Reduction —

Annual Fee Run Rate —

Daily Burn (CC) —

All-time Burned —

Average Daily Volume (ADV)

Repo settlement volume processed daily on Canton Network — source: Broadridge DLR via The DESK (fi-desk.com)

Broadridge DLR Daily Volume

Current ADV —

Reported May 5, 2026

Source fi-desk.com ↗

Provider Broadridge Financial Solutions

Product Distributed Ledger Repo (DLR)

Broadridge DLR settles repo trades atomically on Canton Network — real-time, no counterparty exposure, no T+1 delay. ADV figures are reported monthly via The DESK.

Volume Context

Monthly Settlement Volume —

Implied Annual Run Rate —

Daily Fees Generated $1.98M / day

Fee Rate (implied) —

Settlement Model Atomic / Real-time / DvP

Counterparties Active Goldman Sachs, JPMorgan, HSBC + more

Network Activity

Cumulative on-chain data — update daily from cantonnews.org

Total Wallets

—

Registered parties

All-Time Transactions

—

Cumulative on-chain

Total CC Burned

—

Permanently destroyed

Super Validators

56

Active SVs

Supply Mechanics

Circulating Supply —

SV Historic Vault (locked) ~8.45B CC

Daily Mint (current tranche) 27.38M CC

Daily Burn (fees) —

Daily SV Lockup (CIP-0105) ~5.34M CC

Net Liquid Float Change —

Institutional Counterparties

Status reflects current live operations and confirmed/estimated go-live dates sourced from official press releases and regulatory filings.

Live on Canton Network

Goldman Sachs LIVE Repo settlement via Broadridge DLR

JPMorgan LIVE Repo settlement via Broadridge DLR

HSBC LIVE Repo settlement via Broadridge DLR

Broadridge DLR LIVE $368B ADV — primary Canton anchor

Cumberland (DRW) LIVE Digital asset liquidity — Board member; co-led $135M raise

BNY Mellon LIVE Custodial services on-chain — Board member (Patrick Corker)

Tradeweb LIVE Fixed income execution — Board member; co-led $135M raise

HQLAx LIVE Collateral mobility — Canton migration funded Apr 2026

Confirmed — Go-Live Scheduled

DTCC — Limited Production CONFIRMED Jul 2026 — Treasuries, Russell 1000, ETFs
Source: Digital Asset / Canton PR, May 4 2026

DTCC — Full Commercial CONFIRMED Oct 2026 — Russell 1000 + ETFs + Treasuries at institutional scale
Source: DTCC announcement + SEC no-action letter, Dec 2025

Nasdaq — Equity Token Program CONFIRMED H1 2027 — Issuer-sponsored tokens, DLT settlement infrastructure
Source: Nasdaq IR, Mar 9 2026

FTSE Russell — Russell 1000 CONFIRMED Oct 2026 — Russell 1000 constituents tokenized via DTCC commercial launch
Source: DTCC / SEC no-action letter, Dec 2025

Projected — Integration Underway

HQLAx — Full Canton Migration PROJECTED 2027 — Adds est. $10–$20B ADV in collateral mobility flows
Source: Broadridge invested in HQLAx Series C-1 (The DESK, Apr 21 2026)

Paxos PROJECTED 2027 — Stablecoin + tokenized asset settlement layer
Source: Co-investor, Canton $135M raise, Jun 2025

BNP Paribas PROJECTED 2027–2028 — European institutional settlement
Source: Co-investor, Canton $135M raise, Jun 2025

Citadel Securities PROJECTED 2027–2028 — Market-making on tokenized equities
Source: Co-investor, Canton $135M raise, Jun 2025

Estimated — Institutional Pipeline

Euroclear ESTIMATED 2027–2028 — European CSD settlement; Board seat held by Jorgen Ouaknine

U.S. Treasury Pilots ESTIMATED 2026–2027 — Tokenized Treasury collateral flows through DTCC rails
Source: DTCC SEC no-action letter + federal tokenization pilot programs

Additional DTC Participants (~4,000 firms) ESTIMATED 2028–2030 — Full DTC membership base via DTCC commercial rollout
Source: DTCC 3-year pilot framework + SEC consent

Emission Schedule (2024–2034+)

Official 4-tranche issuance schedule per Canton Coin MiCA Whitepaper. No Jan 2027 or Jan 2028 halvings — next reduction is ~Jul 2029.

Tranche	Period	Daily Mint	Annual Mint	SV / App / Val	Status

Source: Canton Coin MiCA Whitepaper (canton.network). At Jul 2034 terminal rate (6.85M CC/day), current $368B ADV burn (12.86M CC/day) already exceeds mint — structurally deflationary with zero new adoption required.

Catalyst Calendar & Fee Projections

Confirmed and estimated ADV additions with projected daily fees and B/M ratio impact — all catalysts sourced from official press releases

B/M = 1.0 (Tranche 3)

~$790B ADV

At current mint rate (27.38M CC/day) & CC = $0.154

B/M = 1.0 (Post Jul 2029)

~$400B ADV

At Tranche 4 mint rate (13.70M CC/day) — achievable at current volume

Estimated Crossover Window

2028 – 2029

If catalysts execute on schedule — B/M approaches 1.0 before Jul 2029 reduction

Date	Catalyst	Est. ADV	Est. Daily Fees	Est. Daily Burn	Est. B/M	Source	Status

Fee projections derived from implied rate: $1.98M fees per $368B ADV (0.538 bps basis) — Broadridge official, May 4 2026. ADV estimates for confirmed catalysts are conservative lower-bound additions. B/M ratios assume CC = $0.154 and Tranche 3 mint rate (27.38M CC/day) until Jul 2029, then Tranche 4 (13.70M CC/day). Projected and Estimated entries are not financial forecasts.

Institutional Volume Breakdown

Estimated ADV contribution per counterparty at go-live — by asset class. Sources: official press releases and regulatory filings.

Volume estimates are conservative lower-bound figures derived from publicly disclosed market sizes and institutional participation rates. Not financial forecasts.

Monthly Volume & Fee Calendar

Month-by-month estimated ADV, daily fees, monthly fees, and B/M ratio as catalysts execute — Jun 2026 through 2030.

Month	Est. ADV	Daily Fees	Monthly Fees	Annual Run Rate	B/M Ratio	Driver

Fee rate: 0.538 bps of ADV (derived from Broadridge Apr 2026 baseline). B/M uses Tranche 3 mint (27.38M CC/day) through Jun 2029, Tranche 4 (13.70M CC/day) from Jul 2029. CC price held at $0.154. Not financial forecasts.

Scale-Up Fee Projections

Daily, monthly, and annual fee revenue and B/M ratio at each ADV milestone — showing the economic impact of each volume step-change.

100% of all fees are permanently burned. Annual run rate = daily fees × 365. B/M ratios assume CC = $0.154.

📊 Canton Data Editor