Canton Coin Amulet
A multi-party solution for validating and publishing the Kaiko Canton Coin Reference Rate on Amulet.
Background
The Canton Network's Amulet protocol uses a Burn-Mint Equilibrium model, in which Canton Coin's on-chain price determines how many tokens are burned when users pay fees. This price is determined by a network of Super Validators (SVs), who submit price assessments; the median of these assessments becomes the official Amulet price.
Canton Coin needed a market-based benchmark, for which Kaiko Indices is the official administrator; the KK_RFR_CCUSD Reference Rate serves as a compliant market-based benchmark, enabling the use of Canton Coin in secondary markets, while offering a comparison to the governance-driven Amulet price to ensure it aligns with real market conditions.
The Application
The Data Lifecycle App from Kaiko simplifies the entire process described above, bringing super-validators and the benchmark administrator into one place.
Here's the workflow:
Collection
SVs submit their price submissions using a secure API key or via the Canton Portal.
SV Price Calculation
Kaiko combines the SV prices and generates the median for the Amulet price.
Reference Rate Calculation
Separately, Kaiko Indices calculates the KK_RFR_CCUSD using real market conditions.
Publication
Both the Kaiko Reference Rate and the Amulet price are published on-chain and added to the Canton Portal to ensure alignment between the two prices.
Application Interface
Collection
SVs submit price assessments via API or portal
Publication
Price history with SV and reference rate comparison
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