Canton network generates $2m/day in chain fees, ranked 3rd across all protocols by 30-day revenue. daily trading volume is $19.5m on a $5.8b market cap. 0.34% turnover. broadridge settles $348b/day in repo on canton right now. DTCC enters production next month. 517m tokens burned, 14% annual burn rate from mandatory settlement operations, and CIP-105 forces super validators to lock 70% of lifetime earnings with 365-day unlocks. grayscale filed for a spot $CC ETF june 5, bitwise launched BWCC on xetra, 21shares listed TCAN on nasdaq, bitgo just opened qualified custody. three separate access vehicles materializing for a token with microcap liquidity. the protocol revenue is already there. the liquidity isn't. that gap closes in one direction.