➥ @CantonNetwork is now burning more value than any crypto protocol or chain over the last 30D, Canton generated and burned $55.21M in network fees that puts it ahead of: • @HyperliquidX: $40.48M • @trondao: $25.60M • @Pumpfun: $13.32M • @ethereum: $1.89M at a $4.88B cap, Canton’s current burn rate annualizes to roughly $663M, or 13.6% of mcap the more interesting part is where the demand comes from Canton has only ~$217K of DeFi TVL and $5.3M in daily DEX vol its economics are not being driven by the usual retail DeFi loop, but by network-level traffic, preapprovals, setup and holding fees this is why judging $CC by TVL alone misses the point but I would not treat the burn as clean net value capture yet Canton distributed $2.74M in token incentives over the last 24h versus $2.14M burned, meaning issuance still exceeded fee destruction by ~28% the setup becomes much stronger if fee growth continues while incentives decline