Note

Canto made NOTE the base unit of account for its entire chain, and it works unlike a typical mint-against-collateral stablecoin. NOTE cannot be created at will; it can only be borrowed from a smart contract called the Accountant through the Canto Lending Market, which accepts stablecoins and tokenized US Treasury bills such as USYC and fBILL as collateral. An algorithmic interest-rate policy nudges NOTE's price perpetually back toward one dollar by adjusting the cost of borrowing it. Backing therefore sits in over-collateralized, Treasury-heavy positions held onchain, with no company redemption desk; holders rely on the lending market's collateral and the rate mechanism to hold the peg. NOTE anchors Canto's free-public-infrastructure model, serving as the settlement currency in which its lending and exchange layers are denominated.