Franklin Templeton has completed the first milestone in its Canton Super Validator framework, advancing its on-chain treasury work into the next stage of network governance.
In an official Tokenomics outcome, the working group said it had reviewed the CIP-0118 milestone and approved it as complete. It also approved the release of one unit of Super Validator weight for on-chain treasury management on Canton.
The milestone is tied to production activity. Under the approved CIP-0118 framework, Franklin Templeton must complete at least one treasury-management transaction on Canton MainNet.
Qualifying activity can involve tokenized U.S. Treasuries, digital cash such as stablecoins or tokenized demand deposits, or a repo or reverse repo supporting fund operations.
Approved in June, CIP-0118 gives Franklin Templeton a path to a maximum Super Validator weight of five. Each unit is earned through completed work. The treasury-management milestone carries one unit, round-the-clock create-and-redeem capability carries another, and qualifying production volume can add as many as three more.
The latest decision approves the first weight release. Under CIP-0118, two-thirds of Super Validator operators must support the reward assignment and configuration changes that follow. The Tokenomics outcome names the Global Synchronizer Foundation as the Super Validator for the on-chain vote.
The release becomes active once that on-chain implementation is completed. At publication, no matching Franklin Templeton proposal appeared in the live MainNet vote list.
The next milestone focuses on allowing authorized participants to create tokenized fund shares by delivering cash on Canton and redeem those shares for on-chain cash through an operational 24/7 service.
Franklin Templeton can also earn 0.5 unit of weight for every $100 million in qualifying production create-and-redeem volume, up to a maximum of three additional units.
Completing the treasury-management milestone gives Franklin Templeton its first earned step under CIP-0118 and advances its Canton work from tokenized fund issuance towards day-to-day fund operations.
