Cosmos-based Layer 1 blockchain Canto's total value locked (TVL) doubled in January, reflecting a breakthrough for the emerging blockchain. 

On Canto, TVL — or the dollar amount of assets staked on the network — has risen to $137 million from $66 million on Jan. 1, according to DeFiLlama data. This 107% TVL surge came after an investment from Variant Fund, a VC firm, earlier this month.

With a growing TVL, Canto is now the fourth most-valuable Layer 1 blockchain in the Cosmos ecosystem, lagging behind Cronos, Kava and Osmosis.

Canto has been attracting attention for its focus on incentivizing the development of DeFi apps, which operate without taking fees from users and rely on Canto incentives. The network provides subsidies to incentivize liquidity providers and lenders who support its decentralized exchanges and lending market.