>"Canto presents the radical notion that core DeFi primitives should exist as Free Public Infrastructure (FPI). Having observed the growth of the DeFi space, from the launch of DAI in late 2017 to the emergence of many DeFi projects in 2021, three core primitives have emerged to anchor any healthy DeFi ecosystem: decentralized exchanges (DEX), lending markets, and a decentralized unit of account. As the ecosystem has grown, each core primitive has made the same decision: launch a governing protocol token that derives value from its ability to extract rent from future users."