Canary

Canary (CNR) is a decentralized exchange (DEX) running on a fast, efficient, and scalable blockchain known as Avalanche. As per its whitepaper, the Canary exchange wishes to create an all-encompassing ecosystem including DeFi tools, NFTs, Dapps, the Canary academy, and more. Canary works on the mission of assisting people in taking control of their finances. The exchange seeks to launch an academy and a few educational articles to clear people's perceptions around DeFi. 

As the website describes, Canary exchange plans to function as more than just a regular distributed structure on the blockchain. Canary exchange utilizes AMM or automated market makers to facilitate permissionless trading of digital assets across chains.

The DEX features CNR as the official token of the Canary ecosystem. Users can earn CNR tokens by trading crypto assets on the exchange. The total supply of Canary tokens is 562,000,000 CNR. Canary exchange encourages users to swap their earned tokens for other cryptocurrencies without a hassle. Canary allows users to earn more CNR tokens by staking their holdings.   

Canary seeks to reduce the impacts of CNR inflation. It implies that the exchange features very few liquidity pools while optimizing the depth and value of pools. Users can keep adding the tokens into liquidity pools to avail reward payouts in CNR. The exchange implements strategies to maximize user earnings. Hence, Canary encourages users to yield farm the CNR tokens for better revenues. Canary airdrops 5 percent of the tokens to attract more users to the network. 

The token powers the launch of a Dapp called 'AVAX Prediction.' The peer-to-peer application is more like a game involving market prediction. On successfully speculating the rise or drop in the price of AVAX, the application rewards users with CNR tokens. Canary envisions launching 'Boogie Birds,' an exclusive NFT collection enhanced using artificial intelligence. The collection introduces playful NFT birdies that are also stakeable. For example, users can stake the Boogie Birds on the Canary exchange and win CNR tokens.