gCOTI Voting Update

As recently announced, gCOTI’s first voting event is right around the corner! The addition of voting marks the second significant utility for gCOTI, COTI’s Treasury governance token.

The announcement sparked substantial discussion within our community.

As always, your input is of great importance to us, and we take it seriously. After carefully considering all your feedback, we have made the following decisions:

• We are expediting the implementation of gCOTI on the bridge, and deployment is scheduled to take place very soon. This deployment will enable seamless swapping between Native gCOTI and gCOTI ERC-20.
• We have also decided to postpone the first gCOTI voting event to Thursday, November 9th, at 12pm UTC. The voting will conclude on Sunday, November 12th, at 12pm UTC.
• In response to the community’s suggestion, the vote will occur in two steps. The first step, scheduled for this Thursday, will focus on whether we should change the APY Boost, either by lowering or raising it, or keeping it as is. The second step, following the results of the first vote, will determine the precise adjustment to the boost level. Specific options will be presented prior to the second round of voting.

With the exception of the voting options, all the information provided in our voting announcement, including details on how to cast your vote and how the votes are tallied, remains up-to-date and can be found here: https://medium.com/@cotinetwork/announcing-gcoti-1st-vote-b1fc6144cbd2

Stay tuned for more updates about the Bridge and the upcoming votes.