CNR Token: Latest Updates from Canary’s Multichain DEX

CNR Token receives major updates!

As announced earlier, Canary DEX is now transitioning into a multichain DEX. We have initiated the deployment across all known EVM-compatible networks. The deployment on the Scroll network is complete, and Canary DEX has commenced operations there. Our next deployment will be on Arbitrum, followed by Optimism, Ethereum, BSC, Fantom, Cronos, and more.

Regarding CNR Token,

We will not be creating new tokens on the networks where Canary DEX is deployed. The existing CNR Token will be bridged to all these networks, allowing it to be traded there. This expands the utility of the CNR Token and creates scarcity.

Moreover,

The circulation of the released CNR Tokens will be reduced by 1/8. Instead of injecting 5.3 million CNR into the market monthly as farming and staking rewards, we will only inject 0.6 million CNR. This will result in the burning of 4.7 million CNR Tokens each month. All burnt CNRs will be subtracted from the total supply, further enhancing the scarcity of CNR.

The Canary team has remained steadfast in its commitment to continuous work and development since day one. Unlike other projects that closed their doors during the bear market, we stayed true to our promise of always being here. Canary’s transition to a multichain platform will make it even stronger!