2024 So Far — A COTI Update

It’s been an extremely busy start to the new year and we have been making a lot of progress in numerous fields. There’s a whole lot happening right now within COTI, and we wanted to keep you in the loop, so let’s dive into our first update of 2024:

COTI’s Private Payment Network

Back in December, COTI successfully soft-launched a private payment network and introduced its first token, DPINR, for a major player in the gaming industry.

In light of the end-of-year and holiday season, technical checkups were conducted on a very small group of users. Our client reported that the PPN has been running smoothly since its launch and has been operating as designed.

Ultimately, our client is very happy with the solution and the green light has been given to proceed to the next rollout, introducing more tokens as well as expanding the PPN to a much larger user base. This is planned to take place during February, but as always, we’ll keep you updated.

The PPN solution is set to be compatible with COTI V2 at launch. Upon commencement of the Testnet release phase, we’ll begin the migration of our clients and products from COTI V1 to COTI V2, including all CMD tokens such as DPINR.

$COTI ERC-20 Treasury Deposits

As previously announced, we have been working tirelessly on an upgrade that will enable the deposit of $COTI ERC-20 tokens into the Treasury. Once completed, this feature will facilitate the growth of our ecosystem, enabling new users to enter the Treasury. This is a major and important upgrade to our Treasury as we move towards COTI V2.

COTI V2

Our plan to upgrade our infrastructure to a privacy-centric Ethereum L2 is well underway. While we may have been light on some specific details so far, in the coming weeks, we will be releasing some major updates, including the first development milestone that has just been achieved.

We’ll also expand on some of the technical details of COTI V2, as well as delve into the world of the use cases our technology enables.

DJED Continues to Perform

The reserve ratio of DJED currently sits at 450%, well above the lower threshold needed to mint and burn both $DJED and $SHEN.

Snapshots are taken every epoch in order to calculate and distribute rewards to SHEN holders. Delegation rewards for SHEN holders were distributed for epochs 452–456. We will continue to post epoch reward data as it becomes available.

Additionally, both SHEN and DJED holders can provide liquidity on different DEXs and platforms and be rewarded with up to 60% APR on ADA/DJED and 14% APR on ADA/SHEN pairs.

The Third gCOTI Community Campaign is Now Live

The third gCOTI Community Campaign has just begun. Nicknamed the “COTI Shark Tank”, community members have been asked to create a hypothetical “pitch” for COTI Pay Business or our PPN tech stack. If you’d like to participate, make sure to submit your entry via this Google form by January 28th, 2024 1 pm UTC.

Winners will be selected by our panel of judges with the prizes distributed as follows:

🥇 First Prize: 50,000 gCOTI

🥈 Second Prize: 30,000 gCOTI

🥉 Third Prize: 20,000 gCOTI

Besides the ability to vote and impact on Treasury decisions, gCOTI also provides an up to 1600% boost on the Treasury Base APY when deposited in the Treasury.

Community Questions

2024 has just begun, and we’ve been working tirelessly on some very exciting developments as mentioned above. We know there are still a lot of questions from the community about COTI’s plans moving forward. For that reason, we’ll be hosting a Twitter Spaces next week. Shahaf Bar-Geffen will be onboard to answer any burning questions and provide further updates. Exact date and time will be announced soon.