Temple Digital Group has passed one billion Canton Coin burned for the Canton Network. Its September 11 update puts its contribution to network burn since January at more than $100 million.
Burning is part of how Canton charges for the use of its public infrastructure. Fees for activities such as settlement, asset transfers and data synchronization are paid in CC. Those coins are then permanently removed from circulation. Temple's milestone measures its cumulative contribution to that burn.
Canton's token model also allows applications, users and infrastructure providers to earn newly minted CC for their contributions. Network usage and participation drive the two sides of this system.
Temple opened for trading on January 8, initially offering the CC/USDCx pair. The launch combined private trading with support for non-custodial wallets, allowing users to hold their own assets.
Its range of markets has since expanded. In July, Temple listed Ember Protocol's gold and silver tokens, eXAU and eXAG. Each token represents one troy ounce of allocated bullion held in professional custody, bringing physically backed commodities into its Canton trading offering.
The billion-CC milestone arrives eight months after Temple's trading launch.
