Learn
How CAN actually works
CAN is an Omni-layer asset issued on the TEXITcoin blockchain. Omni is a token layer that rides on top of a Bitcoin-style chain: TEXITcoin handles consensus and settlement, and the Omni layer tracks who owns how much CAN. You can read the full developer documentation at texitcoin.org/build.
Minting (dollars in)
You open an order and receive a fresh deposit address on the network you chose. When your stablecoin lands and confirms, the desk sweeps it into reserves and issues the matching amount of CAN to your TEXITcoin address. Supply goes up by exactly the dollars received.
Redeeming (dollars out)
You open a redeem order and send your CAN to the address it gives you. The desk burns the CAN — permanently removing it from supply — and pays USDC to your wallet on the network you picked, minus the redemption fee shown up front.
Why the peg holds
There's no algorithm and no trading strategy involved. CAN is only ever created against a received dollar and only ever destroyed when a dollar goes out, so circulating supply equals reserves by construction. If CAN ever traded below a dollar anywhere, redeeming it at par is the arbitrage.
Common questions
- What backs CAN?
- Dollar-denominated reserves held by the Texas Stable Dollar desk. Every CAN in circulation exists because a dollar of stablecoin was received, and it stops existing when it's redeemed.
- Which wallet do I need?
- Any wallet that supports TEXITcoin Omni-layer assets. Your receiving address must be a legacy address starting with T — bech32 addresses beginning with txc1 cannot hold CAN.
- Which networks and tokens can I use?
- Deposits arrive as USDC, USDT, PYUSD or DAI on Ethereum, Base or BNB Smart Chain. Redemptions pay out USDC on the network you pick.
- What does it cost?
- Minting CAN is free — send $250, get 250 CAN. Redemption charges a small fee, shown on the order before you send anything.
- How fast is it?
- Deposits mint once they confirm on the sending chain, usually minutes. Redemptions burn the CAN and pay USDC in the same window.
- What if I send the wrong amount?
- Minting is exact-arrival: we mint CAN for whatever actually lands. Overpay and you get more CAN; underpay and you get less. Nothing is stuck in limbo.
- Is CAN the same as CANN from 2014?
- No. CANN was a mineable proof-of-work coin with a floating price. CAN is a dollar-backed token on the TEXITcoin Omni layer. Same mission, different instrument — the history is on our about page.