Canopy

Canopy is a blockchain development platform for creating application-specific blockchains. These blockchains, called Nested Chains, run their own application logic and maintain their own state while using validator committees connected through Canopy for consensus, peer-to-peer networking and security.

The architecture separates the application layer from the consensus and networking layers. Developers can change the software of a Nested Chain without requiring the same changes to Canopy itself. Communication between Canopy validators and individual chains takes place through plugins and APIs. Nested Chains can also move to their own validator set while retaining their chain history and interoperability model.

Canopy also provides development and deployment tooling intended to work with AI coding assistants. Its framework supports common programming languages and handles parts of the blockchain infrastructure separately from the application's code. Canopy's mainnet has not yet launched, with the project currently operating its testnet infrastructure.

CNPY is the native token of Canopy. It is used for transactions, staking and the validator incentive system that supports Canopy and its Nested Chains.

CNPY is used as staking collateral by validators. Validators can assign their bonded CNPY to committees responsible for validating individual Nested Chains. The protocol allows the same bonded collateral to be assigned across multiple committees, a mechanism Canopy refers to as restaking. Validators can be penalised through slashing for specified consensus faults.

CNPY is also used to pay transaction fees on Canopy Network and is distributed as part of the protocol's block rewards. Holders can participate as delegators by staking CNPY without operating validator infrastructure. Validators and delegators can direct stake towards different Nested Chain committees, which affects which committees qualify for protocol-funded rewards.

Nested Chains can provide their own tokens as additional rewards to validators and delegators. CNPY can also be contributed to a committee's reward pool through subsidy transactions, allowing additional validator rewards to be distributed over a defined period.

Canopy was founded by Adam Liposky, Andrew Nguyen and Shawn Regan. Liposky serves as CEO and co-founder, Nguyen as CTO and co-founder and Regan as co-founder.

The project began taking shape in 2023 following earlier blockchain infrastructure work by its founders. Its development has focused on a framework for application-specific chains, shared validator services and tooling for building and deploying blockchain applications.