Announcing The Minting of gCOTI, COTI’s Treasury Governance Token!
gCOTI, COTI’s Treasury governance token, and the first CMD token that has been issued on top of COTI’s MultiDAG 2.0 was generated and minted, today, February 14th, 2023 at 12:59:29 UTC.
We recorded this exciting moment, and are happy to share it with you:
gCOTI has a total supply of 1,000,000,000 tokens, which have been minted entirely today. TX Hash of the minting is: 6b40783d1258cf00dfaed25d1653ba7464f246fa034f6d6b781d4b35f100985f
As stated before, gCOTI will be fairly distributed at no cost to loyal COTI community members and Treasury contributors. Minting gCOTI is part of our preparation for the gCOTI airdrop campaign planned for the near future.
The introduction of gCOTI allows Treasury participants to gain multiple benefits from COTI’s Treasury, as described in the Treasury 2.0 litepaper.
Some of these benefits include:
- Governance: gCOTI holders will have the right to debate, propose features, and vote on matters related to the management of the Treasury protocol.
- APY Booster: depositing gCOTI alongside the $COTI deposit entitles the depositor to a greater share of the rewards distributed from the Treasury Reserve Fund.
- Participation in liquidations — gCOTI holders will be able to use their tokens to purchase discounted $COTI Treasury deposits from the Treasury itself.
Allowing the Treasury to expand beyond the upper boundaries of $COTI, coupled with the development of new innovative concepts, will enable COTI to grow the Treasury and our community. This will be accompanied with continuous upgrades to the locking mechanism, varying the locking periods and adding new functions, as well as new use cases for gCOTI.
To ensure security and operational efficiency, the tokens have been spreaded between 15 different wallets, they will be kept in these wallets until the first gCOTI is distributed. Stay tuned for more information.
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