Canton Network Logs $155 Million in Q3 Fees, Topping CertiK's Blockchain Fee Rankings
Over $155 million burned as Canton's fee record grows in Q3
Canton Network, a blockchain (a digital ledger that records transactions) built for regulated finance, recorded more than $155 million in fees during the third quarter of 2026. CertiK Skynet, a blockchain analytics platform, reported the figure on Oct. 12 and ranked Canton first among the chains it compared.
The fees come from the burning of Canton Coin, abbreviated CC. Burning a token means permanently removing it from circulation. On Canton, network participants pay for services by burning CC rather than receiving cash directly.
Key numbers from the data
- DefiLlama's records show $155.36 million in fees from July 1 through Sept. 29, 2026, in UTC.
- That spans 91 days, averaging about $1.71 million per day.
- CertiK reported a daily median of $1.71 million, which it said showed a steady baseline rather than a total inflated by a few spikes.
- The daily pace is below the roughly $2.01 million per day implied by a 30-day snapshot published on June 26 that recorded $60.2 million over that shorter window.
How Canton's fee system works
According to Canton's Global Synchronizer documentation, the network separates payments from rewards. Validators buy message-delivery capacity by burning CC. Applications and network operators can separately mint new CC as rewards. A large fee total does not equal cash paid to validators or a net reduction in token supply once new issuance is factored in.
Charges are priced in dollars but settled in CC. The network converts them using the median rate published by its Super Validators. The cost of a transaction depends on message size and the number of recipients. Validators pay only after their free traffic allowance runs out.
What DefiLlama includes in its total
DefiLlama's fee accounting for Canton goes beyond traffic purchases. It also counts burns tied to transfer preapprovals, their renewals, onboarding, and other fee categories. For the Q3 period, the adapter values those burned tokens using CoinGecko pricing, which differs from the network's internal conversion rate. The total also excludes newly minted rewards.
What the $155 million does not measure
The fee figure does not capture the value of securities settled on Canton or the revenue financial institutions earn. CertiK's research linked to its announcement points to tokenized U.S. Treasuries, repo transactions, and bank deposits as workloads running on Canton, but the aggregate fee total does not break down how much each contributes.
Privacy stays intact behind the fees
Canton is designed to keep financial transactions private. According to its privacy documentation, transaction details are encrypted and shared only with authorized participants. Even synchronizer operators see encrypted messages and confirmation results rather than the underlying transaction contents.
What is confirmed and what is not
Confirmed: Canton recorded at least $155.36 million in Q3 2026 fees based on DefiLlama's data. CertiK Skynet reported this total and ranked Canton first in its comparison. The daily average was about $1.71 million, lower than the June 30-day pace.
Not confirmed: How much of the fee total came from tokenized Treasuries versus repo or bank deposits. The sources do not provide a breakdown by use case.
Sources
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