CIP-0101: Add Finoa as a Super Validator of Weight 3
- Hello all,
I’d like to submit the following Draft Governance CIP for discussion:- CIP-XXXX: Add Finoa as an SV of Weight 3
This proposal seeks to add Finoa as a Super Validator with weight 3, with a focus on:- Enabling regulated custody support for Canton-native assets and tokenised products,
- Supporting on/off-ramp, yield, and distribution capabilities around Canton custody, and
- Aligning SV rewards with Canton adoption and activity facilitated via the Finoa custody platform.
The full CIP text is included below in markdown format for review.
Many thanks in advance for your time and feedback.All the best,Keith========# CIP TBD
CIP: TBD
Title: Add Finoa as an SV of Weight 3
Authors: Christopher May, Henrik Gebbing, & Keith Flynn
Status: Draft
Type: Governance
Created: 25-12-2025
Approved: [Date of Approval]
License: CC0-1.0
---
## Abstract
Add Finoa as a Super Validator (SV) of Weight 3.
---
## About the Applicant
Finoa is a leading European Union digital asset infrastructure provider headquartered in Berlin, Germany.
Founded in 2018, Finoa delivers institutional-grade custody, staking, and network participation services to a global client base that includes banks, investment funds, asset managers, and Web3 foundations, and is backed by leading financial investors such as Balderton and Santander Bank (Mouro Capital).
**Key Highlights:**
Serving high-profile institutional clients across the globe
Supporting 100+ digital assets and operating over 10,000 deployed nodes
Proven operational excellence in validator infrastructure, currently managing 10 active validators on the Canton Network, with 5 additional validator slots approved.
Developing two Canton Featured Apps, Tokino & Vala Wallet.
Recognized for secure, compliant, and transparent infrastructure, with a strong focus on operational reliability and institutional-grade risk management
---
## Motivation
**Finoa’s Role within the Canton Network**
Finoa is already an institutional infrastructure partner to the Canton Network, serving Tier-1 institutions such as Börse Stuttgart, Bank Frick, Tradias, Blockchain.com, and Centrifuge as a Node-as-a-Service (NaaS) operator. These institutions require a regulated custodian not only to hold the Canton Coin rewards generated via their validators, but also to custody and monetise the on-chain financial products they issue or distribute on Canton.In parallel, Finoa is in active discussions with tokenisation platforms issuing on Canton (such as SG Forge and Black Manta), as well as stablecoin issuers, to serve as a custody and infrastructure provider for them and their end-clients. Over time, Finoa’s goal is to expand its role from being an infrastructure provider to becoming a distribution and platform partner for Canton-based tokenised products - offering these instruments, and their associated financial use cases, directly to Finoa’s institutional customer base.
To realise this strategy and deepen its impact on the Canton ecosystem as a Super Validator, Finoa commits to implementing the following phased roadmap.
---
## Rationale
### Roadmap Enabled by Super Validator Status
#### Phase 1 - Custody Integration
Finoa will expand its regulated institutional custody platform to fully support Canton-native assets and tokenised instruments, including stablecoins, issued on the Canton Network.
**Scope:**
Add Canton Coin and assets issued under the Canton Token Standard as supported assets within Finoa’s custody platform so they can be held, serviced, and accounted for alongside clients’ existing digital asset portfolios.
Provide clients with full portfolio visibility and controls for their Canton positions - including balances, transaction history, and reconciliations - integrated into Finoa’s existing reporting and operations stack.
Act as the regulated safekeeping venue for tokenised instruments issued on Canton, including products from tokenisation platforms, giving their end-clients a compliant place to hold and manage these assets.
Implement custody workflows such as escrow arrangements, managed lock-up and vesting schedules, collateral pledging, and other secured holding structures for Canton-native and tokenised assets, enabling use cases like secured lending, repo, and structured products.
**Outcome:**
Tier-1 validator clients & institutional clients have a regulated, institutional-grade venue to hold Canton rewards and Canton-based tokenised assets.
Finoa will deepen partnerships with validator clients such as Börse Stuttgart, Bank Frick, and others by
Offering custody for Canton-based products originated by these validator clients to Finoa’s institutional clients
Providing Finoa custody as an option for validator clients end-customers who wish to hold Canton-related products in a regulated environment.
Where Finoa provides custody for Canton-based tokenised products, these assets can be used in institutional workflows, including serving as collateral in financing structures (e.g. secured lending, repo, or other credit arrangements), subject to applicable risk and compliance frameworks.
---
#### Phase 2 – On/Off-Ramp Connectivity
Finoa will link Canton-native assets and tokenised products to its broader funding and trading channels, making it straightforward for institutions to deploy and adjust capital in Canton-based exposures.
**Scope:**
Work with Finoa’s existing payment partners so that institutional clients can fund and withdraw Canton Coin and selected Canton-linked stablecoins via supported fiat rails, simplifying entry to the Canton ecosystem.
Connect to liquidity and brokerage partners to enable buying and selling of Canton-based tokenised assets, where permitted by regulation and demand, giving clients access to market-driven execution.
Set up operational workflows that allow clients to subscribe, redeem, and rebalance positions in Canton-native and tokenised products that are held under Finoa’s custody.
Align movements between custody accounts, funding channels, and Canton validator wallets so that capital can be shifted efficiently between off-chain and on-chain environments without operational friction.
**Outcome:**
Institutional clients can enter, adjust, and exit Canton exposures using familiar funding and trading channels, reducing friction to adopt Canton-based assets.
---
#### Phase 3 – Yield Infrastructure
Finoa will integrate Canton-native yield avenues into its custody platform, enabling institutional clients to earn on-chain yield on Canton Coin & assets issued on the Canton Network while keeping assets under regulated custody at Finoa.
**Scope:**
Offer Tokino and other approved on-chain yield opportunities through Finoa’s custody platform, allowing clients to allocate locked Canton Coin and other eligible Canton-native assets into on-chain yield directly from their custody accounts.
Provide full lifecycle support for institutional clients to allocate, monitor, and redeem yield positions directly from custody, with appropriate reporting, risk controls, and auditability.
Expand the yield menu available in custody to include additional yield-bearing Canton-native assets and structures – for example, yield-bearing tokens, tokenised yield products, and stablecoin strategies offered by ecosystem partners.
Offer tCC liquid staking derivative (LSD) token, representing claims on Canton Coin committed to Tokino, enabling those positions to be used in DeFi and other on-chain workflows on the Canton Network while the underlying assets remain securely held under Tokino’s lock-up framework.
Collaborate with tokenisation platforms and ecosystem partners to ensure that all Canton-based yield products offered through Finoa can be safely held, tracked, and monetised within a regulated custody framework.
**Outcome:**
Institutional clients at Finoa have access to a curated set of on-chain yield options on Canton Coin and selected Canton-issued tokens, accessed and managed entirely from their existing custody relationship with Finoa.
Canton-based yield positions can be integrated into institutional workflows (including risk, collateral, and reporting processes), making on-chain yield a practical component of clients’ overall portfolio strategy.
---
#### Phase 4 – Distribution & Tokenised Product Access
Finoa will build on its custody and infrastructure role to act as a distribution partner for Canton-based tokenised products, giving institutional clients primary-market style access to these instruments.
**Scope:**
Put in place direct distribution relationships with tokenisation platforms, enabling Finoa to intermediate institutional access to their Canton-issued instruments under a regulated framework.
Onboard institutional investors to these products via Finoa’s existing KYC, risk, and suitability processes, aligning tokenised offerings with each client’s investment profile and constraints.
Engage with clients to understand their target exposures, risk appetite, and investment horizons, and aggregate this interest into clear demand signals that can be presented to tokenisation platforms for allocation or new issuance.
Facilitate primary subscription and allocation of tokenised products through Finoa’s custody environment so that acquisition, settlement, and safekeeping all occur within clients’ existing custody accounts.
Support follow-on lifecycle and reporting workflows, including income distributions, capital events (e.g. redemptions, maturities), and portfolio reporting for Canton-based tokenised instruments held at Finoa.
**Outcome:**
Finoa becomes a distribution channel for Canton-based tokenised products, directing institutional capital into Canton-native issuances.
Tokenisation platforms gain aggregated, qualified demand and a clear path from issuance to custody and ongoing servicing, strengthening Canton as a venue for real-world and yield-focused assets.
---
## Specification
### Deliverables for Full SV Reward
**Deliverable**
Acceptable Criteria
Deadline
Weight Earned
---
**Finoa Custody Support for Canton Token Standard**
• Finoa integrates custody support for assets adhering to the Canton Token Standard.
• Canton assets can be held, viewed, and managed through Finoa’s custody interface.
• Integration passes internal and network security validation.
+180 days from CIP approval
0.5
---
**Institutional adoption Milestone**
• Drive Canton adoption among Finoa’s institutional clients.
• 3 Finoa institutional clients hold Canton Coin or assets issued on the Canton Network under custody with Finoa.
+180 days from custody support going live
0.5
---
**Adoption Bonus**
• All Canton Coin (CC) burn attributable to activity facilitated via the Finoa custody platform will be considered Finoa-facilitated inelastic burn on the network.
+180 days from custody support going live
+0.5 per $2m of inelastic burn generated on the network
Max +2
---
## SV Reward Mechanics
An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV
The escrow SV will NOT mint rewards on a block by block basis
All escrow SV rewards will go to the Unclaimed Rewards pool
⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
If any milestones and associated rewards are not achieved by the deadline
Applicant will be notified they have not met a deliverable by the GSF
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
Applicant is subject to CIP-0045 : SV Operating Requirements
If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
---
## Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
---
## Changelog
[Date] — Initial draft of the proposal.
[Date] — Submitted for review by the Tokenomics Working Group.
[Date] — Approved by the Super Validators.--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
- toggle quoted message Show quoted text
7RIDGE/C7 is happy to sponsor this CIP.
Veronica
V E R O N I C A A U G U S T S S O N / P A R T N E R
7RIDGE IS A PRIVATE MARKETS ASSET MANAGER INVESTED IN TRANSFORMATIVE TECHNOLOGY FOR FINANCIAL SERVICES TO POWER THE GLOBAL ECONOMY Signature for V e r o n i c a A u g u s t s s o n From: cip-discuss@... <cip-discuss@...> On Behalf Of Keith Flynn via lists.sync.global
Sent: Thursday, 18 December 2025 10:42
To: cip-discuss@...
Cc: Christopher May <christopher.may@...>; Henrik Gebbing <henrik.gebbing@...>
Subject: [cip-discuss] [Draft Governance CIP] Add Finoa as a Super Validator of Weight 3Hello all,
I’d like to submit the following Draft Governance CIP for discussion:· CIP-XXXX: Add Finoa as an SV of Weight 3
This proposal seeks to add Finoa as a Super Validator with weight 3, with a focus on:
· Enabling regulated custody support for Canton-native assets and tokenised products,
· Supporting on/off-ramp, yield, and distribution capabilities around Canton custody, and
· Aligning SV rewards with Canton adoption and activity facilitated via the Finoa custody platform.
The full CIP text is included below in markdown format for review.
Many thanks in advance for your time and feedback.All the best,
Keith
========
# CIP TBD
CIP: TBD
Title: Add Finoa as an SV of Weight 3
Authors: Christopher May, Henrik Gebbing, & Keith Flynn
Status: Draft
Type: Governance
Created: 25-12-2025
Approved: [Date of Approval]
License: CC0-1.0
---
## Abstract
Add Finoa as a Super Validator (SV) of Weight 3.
---
## About the Applicant
Finoa is a leading European Union digital asset infrastructure provider headquartered in Berlin, Germany.
Founded in 2018, Finoa delivers institutional-grade custody, staking, and network participation services to a global client base that includes banks, investment funds, asset managers, and Web3 foundations, and is backed by leading financial investors such as Balderton and Santander Bank (Mouro Capital).
**Key Highlights:**
Serving high-profile institutional clients across the globe
Supporting 100+ digital assets and operating over 10,000 deployed nodes
Proven operational excellence in validator infrastructure, currently managing 10 active validators on the Canton Network, with 5 additional validator slots approved.
Developing two Canton Featured Apps, Tokino & Vala Wallet.
Recognized for secure, compliant, and transparent infrastructure, with a strong focus on operational reliability and institutional-grade risk management
---
## Motivation
**Finoa’s Role within the Canton Network**
Finoa is already an institutional infrastructure partner to the Canton Network, serving Tier-1 institutions such as Börse Stuttgart, Bank Frick, Tradias, Blockchain.com, and Centrifuge as a Node-as-a-Service (NaaS) operator. These institutions require a regulated custodian not only to hold the Canton Coin rewards generated via their validators, but also to custody and monetise the on-chain financial products they issue or distribute on Canton.In parallel, Finoa is in active discussions with tokenisation platforms issuing on Canton (such as SG Forge and Black Manta), as well as stablecoin issuers, to serve as a custody and infrastructure provider for them and their end-clients. Over time, Finoa’s goal is to expand its role from being an infrastructure provider to becoming a distribution and platform partner for Canton-based tokenised products - offering these instruments, and their associated financial use cases, directly to Finoa’s institutional customer base.
To realise this strategy and deepen its impact on the Canton ecosystem as a Super Validator, Finoa commits to implementing the following phased roadmap.
---
## Rationale
### Roadmap Enabled by Super Validator Status
#### Phase 1 - Custody Integration
Finoa will expand its regulated institutional custody platform to fully support Canton-native assets and tokenised instruments, including stablecoins, issued on the Canton Network.
**Scope:**
Add Canton Coin and assets issued under the Canton Token Standard as supported assets within Finoa’s custody platform so they can be held, serviced, and accounted for alongside clients’ existing digital asset portfolios.
Provide clients with full portfolio visibility and controls for their Canton positions - including balances, transaction history, and reconciliations - integrated into Finoa’s existing reporting and operations stack.
Act as the regulated safekeeping venue for tokenised instruments issued on Canton, including products from tokenisation platforms, giving their end-clients a compliant place to hold and manage these assets.
Implement custody workflows such as escrow arrangements, managed lock-up and vesting schedules, collateral pledging, and other secured holding structures for Canton-native and tokenised assets, enabling use cases like secured lending, repo, and structured products.
**Outcome:**
Tier-1 validator clients & institutional clients have a regulated, institutional-grade venue to hold Canton rewards and Canton-based tokenised assets.
Finoa will deepen partnerships with validator clients such as Börse Stuttgart, Bank Frick, and others by
Offering custody for Canton-based products originated by these validator clients to Finoa’s institutional clients
Providing Finoa custody as an option for validator clients end-customers who wish to hold Canton-related products in a regulated environment.
Where Finoa provides custody for Canton-based tokenised products, these assets can be used in institutional workflows, including serving as collateral in financing structures (e.g. secured lending, repo, or other credit arrangements), subject to applicable risk and compliance frameworks.
---
#### Phase 2 – On/Off-Ramp Connectivity
Finoa will link Canton-native assets and tokenised products to its broader funding and trading channels, making it straightforward for institutions to deploy and adjust capital in Canton-based exposures.
**Scope:**
Work with Finoa’s existing payment partners so that institutional clients can fund and withdraw Canton Coin and selected Canton-linked stablecoins via supported fiat rails, simplifying entry to the Canton ecosystem.
Connect to liquidity and brokerage partners to enable buying and selling of Canton-based tokenised assets, where permitted by regulation and demand, giving clients access to market-driven execution.
Set up operational workflows that allow clients to subscribe, redeem, and rebalance positions in Canton-native and tokenised products that are held under Finoa’s custody.
Align movements between custody accounts, funding channels, and Canton validator wallets so that capital can be shifted efficiently between off-chain and on-chain environments without operational friction.
**Outcome:**
Institutional clients can enter, adjust, and exit Canton exposures using familiar funding and trading channels, reducing friction to adopt Canton-based assets.
---
#### Phase 3 – Yield Infrastructure
Finoa will integrate Canton-native yield avenues into its custody platform, enabling institutional clients to earn on-chain yield on Canton Coin & assets issued on the Canton Network while keeping assets under regulated custody at Finoa.
**Scope:**
Offer Tokino and other approved on-chain yield opportunities through Finoa’s custody platform, allowing clients to allocate locked Canton Coin and other eligible Canton-native assets into on-chain yield directly from their custody accounts.
Provide full lifecycle support for institutional clients to allocate, monitor, and redeem yield positions directly from custody, with appropriate reporting, risk controls, and auditability.
Expand the yield menu available in custody to include additional yield-bearing Canton-native assets and structures – for example, yield-bearing tokens, tokenised yield products, and stablecoin strategies offered by ecosystem partners.
Offer tCC liquid staking derivative (LSD) token, representing claims on Canton Coin committed to Tokino, enabling those positions to be used in DeFi and other on-chain workflows on the Canton Network while the underlying assets remain securely held under Tokino’s lock-up framework.
Collaborate with tokenisation platforms and ecosystem partners to ensure that all Canton-based yield products offered through Finoa can be safely held, tracked, and monetised within a regulated custody framework.
**Outcome:**
Institutional clients at Finoa have access to a curated set of on-chain yield options on Canton Coin and selected Canton-issued tokens, accessed and managed entirely from their existing custody relationship with Finoa.
Canton-based yield positions can be integrated into institutional workflows (including risk, collateral, and reporting processes), making on-chain yield a practical component of clients’ overall portfolio strategy.
---
#### Phase 4 – Distribution & Tokenised Product Access
Finoa will build on its custody and infrastructure role to act as a distribution partner for Canton-based tokenised products, giving institutional clients primary-market style access to these instruments.
**Scope:**
Put in place direct distribution relationships with tokenisation platforms, enabling Finoa to intermediate institutional access to their Canton-issued instruments under a regulated framework.
Onboard institutional investors to these products via Finoa’s existing KYC, risk, and suitability processes, aligning tokenised offerings with each client’s investment profile and constraints.
Engage with clients to understand their target exposures, risk appetite, and investment horizons, and aggregate this interest into clear demand signals that can be presented to tokenisation platforms for allocation or new issuance.
Facilitate primary subscription and allocation of tokenised products through Finoa’s custody environment so that acquisition, settlement, and safekeeping all occur within clients’ existing custody accounts.
Support follow-on lifecycle and reporting workflows, including income distributions, capital events (e.g. redemptions, maturities), and portfolio reporting for Canton-based tokenised instruments held at Finoa.
**Outcome:**
Finoa becomes a distribution channel for Canton-based tokenised products, directing institutional capital into Canton-native issuances.
Tokenisation platforms gain aggregated, qualified demand and a clear path from issuance to custody and ongoing servicing, strengthening Canton as a venue for real-world and yield-focused assets.
---
## Specification
### Deliverables for Full SV Reward
**Deliverable**
Acceptable Criteria
Deadline
Weight Earned
---
**Finoa Custody Support for Canton Token Standard**
• Finoa integrates custody support for assets adhering to the Canton Token Standard.
• Canton assets can be held, viewed, and managed through Finoa’s custody interface.
• Integration passes internal and network security validation.
+180 days from CIP approval
0.5
---
**Institutional adoption Milestone**
• Drive Canton adoption among Finoa’s institutional clients.
• 3 Finoa institutional clients hold Canton Coin or assets issued on the Canton Network under custody with Finoa.
+180 days from custody support going live
0.5
---
**Adoption Bonus**
• All Canton Coin (CC) burn attributable to activity facilitated via the Finoa custody platform will be considered Finoa-facilitated inelastic burn on the network.
+180 days from custody support going live
+0.5 per $2m of inelastic burn generated on the network
Max +2
---
## SV Reward Mechanics
An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV
The escrow SV will NOT mint rewards on a block by block basis
All escrow SV rewards will go to the Unclaimed Rewards pool
⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
If any milestones and associated rewards are not achieved by the deadline
Applicant will be notified they have not met a deliverable by the GSF
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
Applicant is subject to CIP-0045 : SV Operating Requirements
If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
---
## Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
---
## Changelog
[Date] — Initial draft of the proposal.
[Date] — Submitted for review by the Tokenomics Working Group.
[Date] — Approved by the Super Validators.--
Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
- Hi Finoa team,
Thanks for submitting this CIP. We're currently still considering the proposal and assembling some feedback. One item that we'd like to review further is the definition of inelastic activity - calling any activity that is sourced from the custody platform sounds too flexible from our perspective.Welcome any thoughts from others on the above point and happy to discuss further.Kind regards,Alex--Cumberland - toggle quoted message Show quoted textHello all,
I don't seem to be able to respond to the message here when I log into the platform. The message to respond to is:I will send my response in this email below:----We framed “inelastic burn” as burn attributable to the Finoa custody platform to clearly separate it from activity already captured under other Canton contribution streams the Finoa group supports (e.g., Featured Apps and NaaS/validator operations). The goal is to avoid double-counting.
In practice, custody attribution is intended to cover burn generated by custody-native workflows specifically enabled by regulated custody (e.g., settlement/product-access flows executed from custody-held balances), rather than activity that would be rewarded under Featured App Activity Makers or Validator Liveness rewards.
We’re open to tightening the definition with clear guardrails so the scope is not overly flexible. Happy to iterate on wording with the group.Cheers,On Thu, Dec 18, 2025 at 9:42 AM Keith Flynn <keith.flynn@...> wrote:Hello all,
I’d like to submit the following Draft Governance CIP for discussion:- CIP-XXXX: Add Finoa as an SV of Weight 3
This proposal seeks to add Finoa as a Super Validator with weight 3, with a focus on:- Enabling regulated custody support for Canton-native assets and tokenised products,
- Supporting on/off-ramp, yield, and distribution capabilities around Canton custody, and
- Aligning SV rewards with Canton adoption and activity facilitated via the Finoa custody platform.
The full CIP text is included below in markdown format for review.
Many thanks in advance for your time and feedback.All the best,Keith========# CIP TBD
CIP: TBD
Title: Add Finoa as an SV of Weight 3
Authors: Christopher May, Henrik Gebbing, & Keith Flynn
Status: Draft
Type: Governance
Created: 25-12-2025
Approved: [Date of Approval]
License: CC0-1.0
---
## Abstract
Add Finoa as a Super Validator (SV) of Weight 3.
---
## About the Applicant
Finoa is a leading European Union digital asset infrastructure provider headquartered in Berlin, Germany.
Founded in 2018, Finoa delivers institutional-grade custody, staking, and network participation services to a global client base that includes banks, investment funds, asset managers, and Web3 foundations, and is backed by leading financial investors such as Balderton and Santander Bank (Mouro Capital).
**Key Highlights:**
Serving high-profile institutional clients across the globe
Supporting 100+ digital assets and operating over 10,000 deployed nodes
Proven operational excellence in validator infrastructure, currently managing 10 active validators on the Canton Network, with 5 additional validator slots approved.
Developing two Canton Featured Apps, Tokino & Vala Wallet.
Recognized for secure, compliant, and transparent infrastructure, with a strong focus on operational reliability and institutional-grade risk management
---
## Motivation
**Finoa’s Role within the Canton Network**
Finoa is already an institutional infrastructure partner to the Canton Network, serving Tier-1 institutions such as Börse Stuttgart, Bank Frick, Tradias, Blockchain.com, and Centrifuge as a Node-as-a-Service (NaaS) operator. These institutions require a regulated custodian not only to hold the Canton Coin rewards generated via their validators, but also to custody and monetise the on-chain financial products they issue or distribute on Canton.In parallel, Finoa is in active discussions with tokenisation platforms issuing on Canton (such as SG Forge and Black Manta), as well as stablecoin issuers, to serve as a custody and infrastructure provider for them and their end-clients. Over time, Finoa’s goal is to expand its role from being an infrastructure provider to becoming a distribution and platform partner for Canton-based tokenised products - offering these instruments, and their associated financial use cases, directly to Finoa’s institutional customer base.
To realise this strategy and deepen its impact on the Canton ecosystem as a Super Validator, Finoa commits to implementing the following phased roadmap.
---
## Rationale
### Roadmap Enabled by Super Validator Status
#### Phase 1 - Custody Integration
Finoa will expand its regulated institutional custody platform to fully support Canton-native assets and tokenised instruments, including stablecoins, issued on the Canton Network.
**Scope:**
Add Canton Coin and assets issued under the Canton Token Standard as supported assets within Finoa’s custody platform so they can be held, serviced, and accounted for alongside clients’ existing digital asset portfolios.
Provide clients with full portfolio visibility and controls for their Canton positions - including balances, transaction history, and reconciliations - integrated into Finoa’s existing reporting and operations stack.
Act as the regulated safekeeping venue for tokenised instruments issued on Canton, including products from tokenisation platforms, giving their end-clients a compliant place to hold and manage these assets.
Implement custody workflows such as escrow arrangements, managed lock-up and vesting schedules, collateral pledging, and other secured holding structures for Canton-native and tokenised assets, enabling use cases like secured lending, repo, and structured products.
**Outcome:**
Tier-1 validator clients & institutional clients have a regulated, institutional-grade venue to hold Canton rewards and Canton-based tokenised assets.
Finoa will deepen partnerships with validator clients such as Börse Stuttgart, Bank Frick, and others by
Offering custody for Canton-based products originated by these validator clients to Finoa’s institutional clients
Providing Finoa custody as an option for validator clients end-customers who wish to hold Canton-related products in a regulated environment.
Where Finoa provides custody for Canton-based tokenised products, these assets can be used in institutional workflows, including serving as collateral in financing structures (e.g. secured lending, repo, or other credit arrangements), subject to applicable risk and compliance frameworks.
---
#### Phase 2 – On/Off-Ramp Connectivity
Finoa will link Canton-native assets and tokenised products to its broader funding and trading channels, making it straightforward for institutions to deploy and adjust capital in Canton-based exposures.
**Scope:**
Work with Finoa’s existing payment partners so that institutional clients can fund and withdraw Canton Coin and selected Canton-linked stablecoins via supported fiat rails, simplifying entry to the Canton ecosystem.
Connect to liquidity and brokerage partners to enable buying and selling of Canton-based tokenised assets, where permitted by regulation and demand, giving clients access to market-driven execution.
Set up operational workflows that allow clients to subscribe, redeem, and rebalance positions in Canton-native and tokenised products that are held under Finoa’s custody.
Align movements between custody accounts, funding channels, and Canton validator wallets so that capital can be shifted efficiently between off-chain and on-chain environments without operational friction.
**Outcome:**
Institutional clients can enter, adjust, and exit Canton exposures using familiar funding and trading channels, reducing friction to adopt Canton-based assets.
---
#### Phase 3 – Yield Infrastructure
Finoa will integrate Canton-native yield avenues into its custody platform, enabling institutional clients to earn on-chain yield on Canton Coin & assets issued on the Canton Network while keeping assets under regulated custody at Finoa.
**Scope:**
Offer Tokino and other approved on-chain yield opportunities through Finoa’s custody platform, allowing clients to allocate locked Canton Coin and other eligible Canton-native assets into on-chain yield directly from their custody accounts.
Provide full lifecycle support for institutional clients to allocate, monitor, and redeem yield positions directly from custody, with appropriate reporting, risk controls, and auditability.
Expand the yield menu available in custody to include additional yield-bearing Canton-native assets and structures – for example, yield-bearing tokens, tokenised yield products, and stablecoin strategies offered by ecosystem partners.
Offer tCC liquid staking derivative (LSD) token, representing claims on Canton Coin committed to Tokino, enabling those positions to be used in DeFi and other on-chain workflows on the Canton Network while the underlying assets remain securely held under Tokino’s lock-up framework.
Collaborate with tokenisation platforms and ecosystem partners to ensure that all Canton-based yield products offered through Finoa can be safely held, tracked, and monetised within a regulated custody framework.
**Outcome:**
Institutional clients at Finoa have access to a curated set of on-chain yield options on Canton Coin and selected Canton-issued tokens, accessed and managed entirely from their existing custody relationship with Finoa.
Canton-based yield positions can be integrated into institutional workflows (including risk, collateral, and reporting processes), making on-chain yield a practical component of clients’ overall portfolio strategy.
---
#### Phase 4 – Distribution & Tokenised Product Access
Finoa will build on its custody and infrastructure role to act as a distribution partner for Canton-based tokenised products, giving institutional clients primary-market style access to these instruments.
**Scope:**
Put in place direct distribution relationships with tokenisation platforms, enabling Finoa to intermediate institutional access to their Canton-issued instruments under a regulated framework.
Onboard institutional investors to these products via Finoa’s existing KYC, risk, and suitability processes, aligning tokenised offerings with each client’s investment profile and constraints.
Engage with clients to understand their target exposures, risk appetite, and investment horizons, and aggregate this interest into clear demand signals that can be presented to tokenisation platforms for allocation or new issuance.
Facilitate primary subscription and allocation of tokenised products through Finoa’s custody environment so that acquisition, settlement, and safekeeping all occur within clients’ existing custody accounts.
Support follow-on lifecycle and reporting workflows, including income distributions, capital events (e.g. redemptions, maturities), and portfolio reporting for Canton-based tokenised instruments held at Finoa.
**Outcome:**
Finoa becomes a distribution channel for Canton-based tokenised products, directing institutional capital into Canton-native issuances.
Tokenisation platforms gain aggregated, qualified demand and a clear path from issuance to custody and ongoing servicing, strengthening Canton as a venue for real-world and yield-focused assets.
---
## Specification
### Deliverables for Full SV Reward
**Deliverable**
Acceptable Criteria
Deadline
Weight Earned
---
**Finoa Custody Support for Canton Token Standard**
• Finoa integrates custody support for assets adhering to the Canton Token Standard.
• Canton assets can be held, viewed, and managed through Finoa’s custody interface.
• Integration passes internal and network security validation.
+180 days from CIP approval
0.5
---
**Institutional adoption Milestone**
• Drive Canton adoption among Finoa’s institutional clients.
• 3 Finoa institutional clients hold Canton Coin or assets issued on the Canton Network under custody with Finoa.
+180 days from custody support going live
0.5
---
**Adoption Bonus**
• All Canton Coin (CC) burn attributable to activity facilitated via the Finoa custody platform will be considered Finoa-facilitated inelastic burn on the network.
+180 days from custody support going live
+0.5 per $2m of inelastic burn generated on the network
Max +2
---
## SV Reward Mechanics
An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV
The escrow SV will NOT mint rewards on a block by block basis
All escrow SV rewards will go to the Unclaimed Rewards pool
⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
If any milestones and associated rewards are not achieved by the deadline
Applicant will be notified they have not met a deliverable by the GSF
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
Applicant is subject to CIP-0045 : SV Operating Requirements
If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
---
## Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
---
## Changelog
[Date] — Initial draft of the proposal.
[Date] — Submitted for review by the Tokenomics Working Group.
[Date] — Approved by the Super Validators.--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
- toggle quoted message Show quoted textWe’ve tightened the language above based on your feedback last week to make the eligible activity types and attribution criteria more explicit. Let us know if this aligns with expectations."Only the CC burn that is directly attributable to eligible custody-driven event types (e.g., subscriptions, allocations, and settlements for Canton-issued products; fiat on/offboarding; and escrow or lock-up workflows), and that is verifiably linked to custody-held positions at Finoa, is included in the adoption bonus calculation."On Tue, Dec 23, 2025 at 9:16 AM Keith Flynn <keith.flynn@...> wrote:Hello all,
I don't seem to be able to respond to the message here when I log into the platform. The message to respond to is:I will send my response in this email below:----We framed “inelastic burn” as burn attributable to the Finoa custody platform to clearly separate it from activity already captured under other Canton contribution streams the Finoa group supports (e.g., Featured Apps and NaaS/validator operations). The goal is to avoid double-counting.
In practice, custody attribution is intended to cover burn generated by custody-native workflows specifically enabled by regulated custody (e.g., settlement/product-access flows executed from custody-held balances), rather than activity that would be rewarded under Featured App Activity Makers or Validator Liveness rewards.
We’re open to tightening the definition with clear guardrails so the scope is not overly flexible. Happy to iterate on wording with the group.Cheers,On Thu, Dec 18, 2025 at 9:42 AM Keith Flynn <keith.flynn@...> wrote:Hello all,
I’d like to submit the following Draft Governance CIP for discussion:- CIP-XXXX: Add Finoa as an SV of Weight 3
This proposal seeks to add Finoa as a Super Validator with weight 3, with a focus on:- Enabling regulated custody support for Canton-native assets and tokenised products,
- Supporting on/off-ramp, yield, and distribution capabilities around Canton custody, and
- Aligning SV rewards with Canton adoption and activity facilitated via the Finoa custody platform.
The full CIP text is included below in markdown format for review.
Many thanks in advance for your time and feedback.All the best,Keith========# CIP TBD
CIP: TBD
Title: Add Finoa as an SV of Weight 3
Authors: Christopher May, Henrik Gebbing, & Keith Flynn
Status: Draft
Type: Governance
Created: 25-12-2025
Approved: [Date of Approval]
License: CC0-1.0
---
## Abstract
Add Finoa as a Super Validator (SV) of Weight 3.
---
## About the Applicant
Finoa is a leading European Union digital asset infrastructure provider headquartered in Berlin, Germany.
Founded in 2018, Finoa delivers institutional-grade custody, staking, and network participation services to a global client base that includes banks, investment funds, asset managers, and Web3 foundations, and is backed by leading financial investors such as Balderton and Santander Bank (Mouro Capital).
**Key Highlights:**
Serving high-profile institutional clients across the globe
Supporting 100+ digital assets and operating over 10,000 deployed nodes
Proven operational excellence in validator infrastructure, currently managing 10 active validators on the Canton Network, with 5 additional validator slots approved.
Developing two Canton Featured Apps, Tokino & Vala Wallet.
Recognized for secure, compliant, and transparent infrastructure, with a strong focus on operational reliability and institutional-grade risk management
---
## Motivation
**Finoa’s Role within the Canton Network**
Finoa is already an institutional infrastructure partner to the Canton Network, serving Tier-1 institutions such as Börse Stuttgart, Bank Frick, Tradias, Blockchain.com, and Centrifuge as a Node-as-a-Service (NaaS) operator. These institutions require a regulated custodian not only to hold the Canton Coin rewards generated via their validators, but also to custody and monetise the on-chain financial products they issue or distribute on Canton.In parallel, Finoa is in active discussions with tokenisation platforms issuing on Canton (such as SG Forge and Black Manta), as well as stablecoin issuers, to serve as a custody and infrastructure provider for them and their end-clients. Over time, Finoa’s goal is to expand its role from being an infrastructure provider to becoming a distribution and platform partner for Canton-based tokenised products - offering these instruments, and their associated financial use cases, directly to Finoa’s institutional customer base.
To realise this strategy and deepen its impact on the Canton ecosystem as a Super Validator, Finoa commits to implementing the following phased roadmap.
---
## Rationale
### Roadmap Enabled by Super Validator Status
#### Phase 1 - Custody Integration
Finoa will expand its regulated institutional custody platform to fully support Canton-native assets and tokenised instruments, including stablecoins, issued on the Canton Network.
**Scope:**
Add Canton Coin and assets issued under the Canton Token Standard as supported assets within Finoa’s custody platform so they can be held, serviced, and accounted for alongside clients’ existing digital asset portfolios.
Provide clients with full portfolio visibility and controls for their Canton positions - including balances, transaction history, and reconciliations - integrated into Finoa’s existing reporting and operations stack.
Act as the regulated safekeeping venue for tokenised instruments issued on Canton, including products from tokenisation platforms, giving their end-clients a compliant place to hold and manage these assets.
Implement custody workflows such as escrow arrangements, managed lock-up and vesting schedules, collateral pledging, and other secured holding structures for Canton-native and tokenised assets, enabling use cases like secured lending, repo, and structured products.
**Outcome:**
Tier-1 validator clients & institutional clients have a regulated, institutional-grade venue to hold Canton rewards and Canton-based tokenised assets.
Finoa will deepen partnerships with validator clients such as Börse Stuttgart, Bank Frick, and others by
Offering custody for Canton-based products originated by these validator clients to Finoa’s institutional clients
Providing Finoa custody as an option for validator clients end-customers who wish to hold Canton-related products in a regulated environment.
Where Finoa provides custody for Canton-based tokenised products, these assets can be used in institutional workflows, including serving as collateral in financing structures (e.g. secured lending, repo, or other credit arrangements), subject to applicable risk and compliance frameworks.
---
#### Phase 2 – On/Off-Ramp Connectivity
Finoa will link Canton-native assets and tokenised products to its broader funding and trading channels, making it straightforward for institutions to deploy and adjust capital in Canton-based exposures.
**Scope:**
Work with Finoa’s existing payment partners so that institutional clients can fund and withdraw Canton Coin and selected Canton-linked stablecoins via supported fiat rails, simplifying entry to the Canton ecosystem.
Connect to liquidity and brokerage partners to enable buying and selling of Canton-based tokenised assets, where permitted by regulation and demand, giving clients access to market-driven execution.
Set up operational workflows that allow clients to subscribe, redeem, and rebalance positions in Canton-native and tokenised products that are held under Finoa’s custody.
Align movements between custody accounts, funding channels, and Canton validator wallets so that capital can be shifted efficiently between off-chain and on-chain environments without operational friction.
**Outcome:**
Institutional clients can enter, adjust, and exit Canton exposures using familiar funding and trading channels, reducing friction to adopt Canton-based assets.
---
#### Phase 3 – Yield Infrastructure
Finoa will integrate Canton-native yield avenues into its custody platform, enabling institutional clients to earn on-chain yield on Canton Coin & assets issued on the Canton Network while keeping assets under regulated custody at Finoa.
**Scope:**
Offer Tokino and other approved on-chain yield opportunities through Finoa’s custody platform, allowing clients to allocate locked Canton Coin and other eligible Canton-native assets into on-chain yield directly from their custody accounts.
Provide full lifecycle support for institutional clients to allocate, monitor, and redeem yield positions directly from custody, with appropriate reporting, risk controls, and auditability.
Expand the yield menu available in custody to include additional yield-bearing Canton-native assets and structures – for example, yield-bearing tokens, tokenised yield products, and stablecoin strategies offered by ecosystem partners.
Offer tCC liquid staking derivative (LSD) token, representing claims on Canton Coin committed to Tokino, enabling those positions to be used in DeFi and other on-chain workflows on the Canton Network while the underlying assets remain securely held under Tokino’s lock-up framework.
Collaborate with tokenisation platforms and ecosystem partners to ensure that all Canton-based yield products offered through Finoa can be safely held, tracked, and monetised within a regulated custody framework.
**Outcome:**
Institutional clients at Finoa have access to a curated set of on-chain yield options on Canton Coin and selected Canton-issued tokens, accessed and managed entirely from their existing custody relationship with Finoa.
Canton-based yield positions can be integrated into institutional workflows (including risk, collateral, and reporting processes), making on-chain yield a practical component of clients’ overall portfolio strategy.
---
#### Phase 4 – Distribution & Tokenised Product Access
Finoa will build on its custody and infrastructure role to act as a distribution partner for Canton-based tokenised products, giving institutional clients primary-market style access to these instruments.
**Scope:**
Put in place direct distribution relationships with tokenisation platforms, enabling Finoa to intermediate institutional access to their Canton-issued instruments under a regulated framework.
Onboard institutional investors to these products via Finoa’s existing KYC, risk, and suitability processes, aligning tokenised offerings with each client’s investment profile and constraints.
Engage with clients to understand their target exposures, risk appetite, and investment horizons, and aggregate this interest into clear demand signals that can be presented to tokenisation platforms for allocation or new issuance.
Facilitate primary subscription and allocation of tokenised products through Finoa’s custody environment so that acquisition, settlement, and safekeeping all occur within clients’ existing custody accounts.
Support follow-on lifecycle and reporting workflows, including income distributions, capital events (e.g. redemptions, maturities), and portfolio reporting for Canton-based tokenised instruments held at Finoa.
**Outcome:**
Finoa becomes a distribution channel for Canton-based tokenised products, directing institutional capital into Canton-native issuances.
Tokenisation platforms gain aggregated, qualified demand and a clear path from issuance to custody and ongoing servicing, strengthening Canton as a venue for real-world and yield-focused assets.
---
## Specification
### Deliverables for Full SV Reward
**Deliverable**
Acceptable Criteria
Deadline
Weight Earned
---
**Finoa Custody Support for Canton Token Standard**
• Finoa integrates custody support for assets adhering to the Canton Token Standard.
• Canton assets can be held, viewed, and managed through Finoa’s custody interface.
• Integration passes internal and network security validation.
+180 days from CIP approval
0.5
---
**Institutional adoption Milestone**
• Drive Canton adoption among Finoa’s institutional clients.
• 3 Finoa institutional clients hold Canton Coin or assets issued on the Canton Network under custody with Finoa.
+180 days from custody support going live
0.5
---
**Adoption Bonus**
• All Canton Coin (CC) burn attributable to activity facilitated via the Finoa custody platform will be considered Finoa-facilitated inelastic burn on the network.
+180 days from custody support going live
+0.5 per $2m of inelastic burn generated on the network
Max +2
---
## SV Reward Mechanics
An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV
The escrow SV will NOT mint rewards on a block by block basis
All escrow SV rewards will go to the Unclaimed Rewards pool
⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
If any milestones and associated rewards are not achieved by the deadline
Applicant will be notified they have not met a deliverable by the GSF
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
Applicant is subject to CIP-0045 : SV Operating Requirements
If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
---
## Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
---
## Changelog
[Date] — Initial draft of the proposal.
[Date] — Submitted for review by the Tokenomics Working Group.
[Date] — Approved by the Super Validators.--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven NiederheideThe content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
- Hi Keith, thanks for your response and discussion during the last meeting.We have some other considerations that we'd like to discuss in the next TWG prior to finalizing our thoughts. Looking forward to speaking and hope the team enjoyed the holidays.Kind regards,Alex--Cumberland
- MPCH is happy to endorse the updated CIP
On Tue, Dec 23, 2025 at 9:16 AM Keith Flynn <keith.flynn@...> wrote:Hello all,
I don't seem to be able to respond to the message here when I log into the platform. The message to respond to is:I will send my response in this email below:----We framed “inelastic burn” as burn attributable to the Finoa custody platform to clearly separate it from activity already captured under other Canton contribution streams the Finoa group supports (e.g., Featured Apps and NaaS/validator operations). The goal is to avoid double-counting.
In practice, custody attribution is intended to cover burn generated by custody-native workflows specifically enabled by regulated custody (e.g., settlement/product-access flows executed from custody-held balances), rather than activity that would be rewarded under Featured App Activity Makers or Validator Liveness rewards.
We’re open to tightening the definition with clear guardrails so the scope is not overly flexible. Happy to iterate on wording with the group.
Cheers,
On Thu, Dec 18, 2025 at 9:42 AM Keith Flynn <keith.flynn@...> wrote:Hello all,
I’d like to submit the following Draft Governance CIP for discussion:- CIP-XXXX: Add Finoa as an SV of Weight 3
This proposal seeks to add Finoa as a Super Validator with weight 3, with a focus on:- Enabling regulated custody support for Canton-native assets and tokenised products,
- Supporting on/off-ramp, yield, and distribution capabilities around Canton custody, and
- Aligning SV rewards with Canton adoption and activity facilitated via the Finoa custody platform.
The full CIP text is included below in markdown format for review.
Many thanks in advance for your time and feedback.
All the best,Keith
========
# CIP TBD
CIP: TBD
Title: Add Finoa as an SV of Weight 3
Authors: Christopher May, Henrik Gebbing, & Keith Flynn
Status: Draft
Type: Governance
Created: 25-12-2025
Approved: [Date of Approval]
License: CC0-1.0
---
## Abstract
Add Finoa as a Super Validator (SV) of Weight 3.
---
## About the Applicant
Finoa is a leading European Union digital asset infrastructure provider headquartered in Berlin, Germany.
Founded in 2018, Finoa delivers institutional-grade custody, staking, and network participation services to a global client base that includes banks, investment funds, asset managers, and Web3 foundations, and is backed by leading financial investors such as Balderton and Santander Bank (Mouro Capital).
**Key Highlights:**
Serving high-profile institutional clients across the globe
Supporting 100+ digital assets and operating over 10,000 deployed nodes
Proven operational excellence in validator infrastructure, currently managing 10 active validators on the Canton Network, with 5 additional validator slots approved.
Developing two Canton Featured Apps, Tokino & Vala Wallet.
Recognized for secure, compliant, and transparent infrastructure, with a strong focus on operational reliability and institutional-grade risk management
---
## Motivation
**Finoa’s Role within the Canton Network**
Finoa is already an institutional infrastructure partner to the Canton Network, serving Tier-1 institutions such as Börse Stuttgart, Bank Frick, Tradias, Blockchain.com, and Centrifuge as a Node-as-a-Service (NaaS) operator. These institutions require a regulated custodian not only to hold the Canton Coin rewards generated via their validators, but also to custody and monetise the on-chain financial products they issue or distribute on Canton.In parallel, Finoa is in active discussions with tokenisation platforms issuing on Canton (such as SG Forge and Black Manta), as well as stablecoin issuers, to serve as a custody and infrastructure provider for them and their end-clients. Over time, Finoa’s goal is to expand its role from being an infrastructure provider to becoming a distribution and platform partner for Canton-based tokenised products - offering these instruments, and their associated financial use cases, directly to Finoa’s institutional customer base.
To realise this strategy and deepen its impact on the Canton ecosystem as a Super Validator, Finoa commits to implementing the following phased roadmap.
---
## Rationale
### Roadmap Enabled by Super Validator Status
#### Phase 1 - Custody Integration
Finoa will expand its regulated institutional custody platform to fully support Canton-native assets and tokenised instruments, including stablecoins, issued on the Canton Network.
**Scope:**
Add Canton Coin and assets issued under the Canton Token Standard as supported assets within Finoa’s custody platform so they can be held, serviced, and accounted for alongside clients’ existing digital asset portfolios.
Provide clients with full portfolio visibility and controls for their Canton positions - including balances, transaction history, and reconciliations - integrated into Finoa’s existing reporting and operations stack.
Act as the regulated safekeeping venue for tokenised instruments issued on Canton, including products from tokenisation platforms, giving their end-clients a compliant place to hold and manage these assets.
Implement custody workflows such as escrow arrangements, managed lock-up and vesting schedules, collateral pledging, and other secured holding structures for Canton-native and tokenised assets, enabling use cases like secured lending, repo, and structured products.
**Outcome:**
Tier-1 validator clients & institutional clients have a regulated, institutional-grade venue to hold Canton rewards and Canton-based tokenised assets.
Finoa will deepen partnerships with validator clients such as Börse Stuttgart, Bank Frick, and others by
Offering custody for Canton-based products originated by these validator clients to Finoa’s institutional clients
Providing Finoa custody as an option for validator clients end-customers who wish to hold Canton-related products in a regulated environment.
Where Finoa provides custody for Canton-based tokenised products, these assets can be used in institutional workflows, including serving as collateral in financing structures (e.g. secured lending, repo, or other credit arrangements), subject to applicable risk and compliance frameworks.
---
#### Phase 2 – On/Off-Ramp Connectivity
Finoa will link Canton-native assets and tokenised products to its broader funding and trading channels, making it straightforward for institutions to deploy and adjust capital in Canton-based exposures.
**Scope:**
Work with Finoa’s existing payment partners so that institutional clients can fund and withdraw Canton Coin and selected Canton-linked stablecoins via supported fiat rails, simplifying entry to the Canton ecosystem.
Connect to liquidity and brokerage partners to enable buying and selling of Canton-based tokenised assets, where permitted by regulation and demand, giving clients access to market-driven execution.
Set up operational workflows that allow clients to subscribe, redeem, and rebalance positions in Canton-native and tokenised products that are held under Finoa’s custody.
Align movements between custody accounts, funding channels, and Canton validator wallets so that capital can be shifted efficiently between off-chain and on-chain environments without operational friction.
**Outcome:**
Institutional clients can enter, adjust, and exit Canton exposures using familiar funding and trading channels, reducing friction to adopt Canton-based assets.
---
#### Phase 3 – Yield Infrastructure
Finoa will integrate Canton-native yield avenues into its custody platform, enabling institutional clients to earn on-chain yield on Canton Coin & assets issued on the Canton Network while keeping assets under regulated custody at Finoa.
**Scope:**
Offer Tokino and other approved on-chain yield opportunities through Finoa’s custody platform, allowing clients to allocate locked Canton Coin and other eligible Canton-native assets into on-chain yield directly from their custody accounts.
Provide full lifecycle support for institutional clients to allocate, monitor, and redeem yield positions directly from custody, with appropriate reporting, risk controls, and auditability.
Expand the yield menu available in custody to include additional yield-bearing Canton-native assets and structures – for example, yield-bearing tokens, tokenised yield products, and stablecoin strategies offered by ecosystem partners.
Offer tCC liquid staking derivative (LSD) token, representing claims on Canton Coin committed to Tokino, enabling those positions to be used in DeFi and other on-chain workflows on the Canton Network while the underlying assets remain securely held under Tokino’s lock-up framework.
Collaborate with tokenisation platforms and ecosystem partners to ensure that all Canton-based yield products offered through Finoa can be safely held, tracked, and monetised within a regulated custody framework.
**Outcome:**
Institutional clients at Finoa have access to a curated set of on-chain yield options on Canton Coin and selected Canton-issued tokens, accessed and managed entirely from their existing custody relationship with Finoa.
Canton-based yield positions can be integrated into institutional workflows (including risk, collateral, and reporting processes), making on-chain yield a practical component of clients’ overall portfolio strategy.
---
#### Phase 4 – Distribution & Tokenised Product Access
Finoa will build on its custody and infrastructure role to act as a distribution partner for Canton-based tokenised products, giving institutional clients primary-market style access to these instruments.
**Scope:**
Put in place direct distribution relationships with tokenisation platforms, enabling Finoa to intermediate institutional access to their Canton-issued instruments under a regulated framework.
Onboard institutional investors to these products via Finoa’s existing KYC, risk, and suitability processes, aligning tokenised offerings with each client’s investment profile and constraints.
Engage with clients to understand their target exposures, risk appetite, and investment horizons, and aggregate this interest into clear demand signals that can be presented to tokenisation platforms for allocation or new issuance.
Facilitate primary subscription and allocation of tokenised products through Finoa’s custody environment so that acquisition, settlement, and safekeeping all occur within clients’ existing custody accounts.
Support follow-on lifecycle and reporting workflows, including income distributions, capital events (e.g. redemptions, maturities), and portfolio reporting for Canton-based tokenised instruments held at Finoa.
**Outcome:**
Finoa becomes a distribution channel for Canton-based tokenised products, directing institutional capital into Canton-native issuances.
Tokenisation platforms gain aggregated, qualified demand and a clear path from issuance to custody and ongoing servicing, strengthening Canton as a venue for real-world and yield-focused assets.
---
## Specification
### Deliverables for Full SV Reward
**Deliverable**
Acceptable Criteria
Deadline
Weight Earned
---
**Finoa Custody Support for Canton Token Standard**
• Finoa integrates custody support for assets adhering to the Canton Token Standard.
• Canton assets can be held, viewed, and managed through Finoa’s custody interface.
• Integration passes internal and network security validation.
+180 days from CIP approval
0.5
---
**Institutional adoption Milestone**
• Drive Canton adoption among Finoa’s institutional clients.
• 3 Finoa institutional clients hold Canton Coin or assets issued on the Canton Network under custody with Finoa.
+180 days from custody support going live
0.5
---
**Adoption Bonus**
• All Canton Coin (CC) burn attributable to activity facilitated via the Finoa custody platform will be considered Finoa-facilitated inelastic burn on the network.
+180 days from custody support going live
+0.5 per $2m of inelastic burn generated on the network
Max +2
---
## SV Reward Mechanics
An extraBeneficiary PartyID associated with the ‘escrowed’ Super Validator will be setup by the GSF with an SV Weight at the maximum earnable weight. This will not include the potential "First to Production" or "Second to Production" bonus weights.
The Applicant is responsible for coordinating the process of setting up the escrowed weights with the GSF and the operator of the GSF SV node.
The Applicant is responsible for all costs associated with the operation of the escrow SV
The escrow SV will NOT mint rewards on a block by block basis
All escrow SV rewards will go to the Unclaimed Rewards pool
⅔ of the Super Validator Operators will update their configurations to allow GSF to host the full weight to be earned by the given Super Validator
Applicant is required to present proof of successful completed milestones to the Tokenomics Working Group
Applicant is required to present a calculation for number of Canton Coin it should earn for meeting the requirements of the milestone
If the Tokenomics Working Group agrees the milestone has been met and agrees with the calculation, an announcement will be sent via the Tokenomics-Announce mailing List
The GSF will update the extraBeneficiary to an active PartyID controlled by that Super Validator.
⅔ of Super Validator Operators will then assign a portion of the Unclaimed Rewards to be minted by the Applicant’s Validator, based on the calculation approved by the Tokenomics working group.
If any milestones and associated rewards are not achieved by the deadline
Applicant will be notified they have not met a deliverable by the GSF
Remaining SV Weight assigned to the extraBeneficiary SV will be removed from the GSF node configuration, and the total SV weight of the GSF SV node will be reduced by the same amount by a vote of the Super Validators.
The Tokenomics Working Group will make a recommendation to the SVs on what to do with the Unclaimed Rewards
Applicant is subject to CIP-0045 : SV Operating Requirements
If, at any time, the Applicant has been rewarded SV Weight > 2.5, they are required to operate their SV within 6 months of crossing that Weight. This SV node will join the network with an SV weight of zero (0) and may add weights as the SV completes the milestones listed in this CIP.
---
## Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
---
## Changelog
[Date] — Initial draft of the proposal.
[Date] — Submitted for review by the Tokenomics Working Group.
[Date] — Approved by the Super Validators.
--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven Niederheide
The content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
--Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven Niederheide
The content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
Keith Flynn
Senior Sales & Partnerships Manager
Finoa GmbH
Voltastraße 1,
14482 Potsdam,
Germany
Commercial Register: District Court Potsdam HRB 32451 P
VAT-ID: DE324616089
Managing Directors:
Christopher May, Dr. Jörg Howein, Sven Niederheide
The content of this email is confidential and intended for the recipient specified in message only. It is strictly forbidden to share any part of this message with any third party, without a written consent of the sender. If you received this message by mistake, please reply to this message and follow with its deletion, so that we can ensure such a mistake does not occur in the future.
For more details please visit Finoa’s Privacy Policy
