BitSafe has released a new toolkit for developers building decentralized finance applications on the Canton Network. The company announced the public beta of Decentralization Manager, an open-source framework designed to help projects distribute control across multiple independent operators. The launch is backed by a grant of more than $1 million from the Canton Foundation Development Fund.
What the framework does
Decentralization Manager includes pre-built modules for token issuance, custody, multi-signature wallets, tokenized real-world assets, and decentralized exchanges. The code has been audited by Quantstamp. BitSafe says the framework is meant to make it easier for builders to create resilient products without having to design their own governance and control systems from scratch.
First live use case
The first project to use Decentralization Manager in production is CBTC, a tokenized bitcoin on the Canton Network. CBTC has already processed more than 10 million transactions, with node operators earning a share of Canton network fees. The project relies on the framework's multi-party authorization model.
Who's involved
Palladium Labs is the first builder announced to use Decentralization Manager for multi-party authorization. Three firms — Nethermind, DSRV, and Finoa Consensus Services — have implemented the framework as attestors for CBTC. BitSafe says it can also match builders with institutional-grade node operators.
Grant and next steps
The Canton Foundation grant that supported the launch is valued at 8,500,000 CC tokens, worth more than $1 million at current prices. The public beta is available on the Canton Foundation's GitHub. BitSafe has also submitted an additional grant application to continue development.
