#COTI

We are happy to share that a new Mainnet Node has been added to the COTI network: Innovunode! The new node is now live and running.

One of the core things we value at COTI is the active participation of our community members. This factor influences the way we choose new node operators, and as such, the selection process for the operators is not solely dependent on the length of their wait, but also on the nature of their activity as well as their contribution to the network.

The Innovunode has been operated by the well known Stefanos, who has been running a Testnet node since 2021.

Besides the fact that he is one of the most active community members in our channels, answering and helping new community members, he also built some useful tools for the community such as the COTI community Telegram bot and the COTI Treasury Telegram bot.

Stefanos also built this website which portrays other tools and bots that he built, along with educational information about COTI.

We encourage you to visit the website and check out its awesome features!

All the above made it a natural choice for us to pick Stefanos as the next COTI community node.

Here is what Stefanos had to say:

“Hey all, it is an honor having the opportunity to finally become a part of COTI’s Trustchain by running a Mainnet Node.

I’ve been active in the community since 2021 and it got my attention due to their partnership with Cardano, so I took a deeper look into it.

I directly fell in love with the project and in October of 2021, with the suggestion of Weepady, I decided to run a Testnet Node. Couldn’t have done it without the assistance of GeordieR & Fireflight, shoutout to them!

These last two years there have been some huge developments and I got to witness COTI transforming from a startup, to an enterprise grade L1 multitoken Trustchain.

I’m looking forward to continuing this journey with COTI’s great team and its amazing community!

I wish good luck to all the fellow testnet node operators, and be patient, it is worth the wait!”

The demand to become a COTI Mainnet node operator is still high, and one of our goals for 2023 is to expand the number of new Mainnet node operators, by allowing more Testnet operators to run a Mainnet node.

We are happy to have Stefanos join the COTI node operators team and we wish him all the success with his new Mainnet node!

Stay COTI!

For all of our updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io

Twitter: https://twitter.com/COTInetwork

Telegram: https://t.me/COTInetwork

GitHub: https://github.com/coti-io

Discord: https://discord.gg/9tq6CP6XrT

Medium: https://cotinetwork.medium.com/

CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

#COTI #DJED #SHEN

We are happy to share with you the latest updates about Djed.

Djed is now the 4th biggest project overall on the Cardano Network. As more and more use cases are being implemented, the adoption of Djed will keep growing.

Lower Operational Fees and Transaction Minimums

It has been less than a month since the launch, and the protocol works well and is stable, which was always our top priority. This enabled us to reduce the mint and burn minimum amounts of DJED and SHEN on djed.xyz, as described below:

DJED

Minting minimum amount — Old: 5,000 DJED -> NEW: 1,000 DJED

Burning minimum amount — Old 1,000 DJED-> NEW: 200 DJED

SHEN

Minting minimum amount — Old: 5,000 SHEN-> NEW: 1,000 SHEN

Burning minimum amount — Old 2,500 SHEN-> NEW: 500 SHEN.

Operational fees have been lowered as well from 100 ADA to 25 ADA.

Mint and burn fees of DJED and SHEN remain the same at 1.5%.

SHEN Delegation Rewards

On another positive note, the first distribution of delegation rewards for SHEN holders has started and rewards are currently being distributed to eligible SHEN holders! This distribution includes those who held their SHEN tokens in their wallets during the first snapshot that was taken on Feb 5th at 07:33:02 am UTC, regardless of whether they minted it on djed.xyz or acquired it elsewhere.

The next snapshot will also include SHEN holders that hold their SHEN on Wingriders and Minswap. This snapshot will be taken in the next few days and distributed approximately 20 days after the snapshot (on the 4th epoch following it). A snapshot for users that hold their SHEN in other DEXs will be also available soon.

The process works as follows:

A snapshot of wallets and DEXs holding SHEN is taken randomly between each epoch.

SHEN holders will receive the rewards in ADA every epoch without any additional action, as long as they held SHEN in their wallets / on the DEXs during the snapshot.

The delegation rewards section where SHEN holders will be able to check the status and the amount of their rewards will be implemented soon on djed.xyz.

The above numbers are for demonstration purposes only

User Interface Improvements

We added a mint/burn amount slider that displays both the minimum amount required to mint/burn DJED and SHEN, and the maximum amount available that is based on the users’ wallet balance.

Elliptic Integration Complete

As we mentioned in our previous update, we are integrating to Elliptical services to ensure Djed’s compliance and prevent bad actors from using the Djed protocol. We are happy to inform you that the integration has now been completed.

Stay tuned for more updates!

Stay COTI!

For all of our updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io

Twitter: https://twitter.com/COTInetwork

Telegram: https://t.me/COTInetwork

GitHub: https://github.com/coti-io

Discord: https://discord.gg/9tq6CP6XrT

Binance Feed: https://www.binance.com/en/feed/profile/485349084

CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

#COTI #DJED #SHEN

Since the successful launch of Djed, the protocol has been stable and has already become the 4th largest project on the Cardano network. Now, our main focus is to establish DJED’s adoption, and create more utility for it. In the coming weeks we will present to you various use cases for DJED and SHEN. This week we are happy to discuss the implementation of DJED on Aada finance.

Aada finance is a decentralized lending and borrowing protocol built on the Cardano blockchain. Aada has announced that DJED and SHEN are available as borrowable assets and collaterals on their platform.

We asked Lukas Armonas, Aada Finance CMO, several questions about the implementation, and this is what he had to say:

Please tell us a bit about Aada finance:Aada Finance is a decentralized lending and borrowing protocol. The current V1 protocol version uses peer-to-peer primitives while introducing the NFT bond feature. The latter tokenizes each loan, enabling lenders and borrowers to transfer and/or trade their loan positions freely. In the upcoming V2 protocol version, Aada Finance will introduce pool-to-peer lending and borrowing.

What does the implementation of DJED and SHEN allow? The DJED implementation allows users to collateralize their loans or borrow the stablecoin to long and short Cardano native tokens. On the other hand, using SHEN enables lenders and borrowers to HODL or take advantage of the holders’ incentives without owning the token.

How does it work? Users can request or deposit liquidity by setting custom parameters like loan size and type, collateral size and type, loan duration, and interest.

What impact do you expect DJED and SHEN will have on the platform?Adding DJED and SHEN as borrowable and collateral options on the platform have already improved the user experience. Now, users can safely borrow and lend without the risk of price fluctuations or liquidations.

This implementation, among others, will help grow the adoption of Djed throughout the entire Cardano ecosystem. Stay tuned for more updates.

Stay COTI!

For all of our updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io

Twitter: https://twitter.com/COTInetwork

Telegram: https://t.me/COTInetwork

GitHub: https://github.com/coti-io

Discord: https://discord.gg/9tq6CP6XrT

Medium: https://medium.com/cotinetwork

CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

#COTI #GCOTI

Since its launch, the COTI Treasury has grown rapidly with more than 500M $COTI tokens deposited, capturing over 43% of COTI’s circulating supply! This TVL also stands out when compared to other Layer 1s. As the entire ecosystem generates fees and liquidations, the Treasury grows, increasing the rewards for users who have deposited $COTI . Depositing $COTI into the Treasury gives users a share of the growing pool.

Treasury 2.0

We recently released the Treasury 2.0 litepaper, which includes enhancements that will take the Treasury a step further towards fulfilling its potential. Treasury 2.0 will expand the Treasury’s use case even further, such as the ability to deposit new tokens, resulting in TVL growth.

COTI’s Treasury Governance Token

gCOTI empowers community governance over COTI’s Treasury, for the first time ever. It is the first token to be issued on top of the MultiDAG 2.0 Mainnet, based on our new CMD standard. As recently announced, gCOTI was generated and minted on February 14th.

What’s the difference between $COTI and gCOTI?

$COTI and gCOTI serve different purposes. $COTI is the native token of COTI’s L1, the Trustchain. It is needed to cover transaction fees within the network. gCOTI is the governance token of the Treasury (and not of the protocol), and it will provide the following utility:

APY Booster — Depositing gCOTI alongside the $COTI deposit will entitle the depositor to a greater share of the rewards distributed from the Treasury Reserve Fund.

Governance- gCOTI will grant its holders the power to propose features and vote on matters related to the management of the COTI Treasury, based on their gCOTI holdings.

Active participation in Liquidations- gCOTI holders will be able to acquire $COTI deposits before they are liquidated, allowing them to purchase $COTI at a reduced cost directly from the Treasury.

Other use cases and applications of gCOTI may be presented in the future.

Distribution of gCOTI to the COTI community

As stated before, the first gCOTI tokens will be fairly distributed at no cost to loyal COTI community members that will participate in the gCOTI campaign.

In total, 52% of gCOTI’s total supply will be allocated to the COTI community and Treasury contributors.

The much-anticipated gCOTI airdrop campaign is planned for the first week of April! Users will be able to lock their $COTI for an extended period and receive gCOTI. The campaign participants will be the first to receive gCOTI and take advantage of its utility.

The campaign will include two unique programs:

The first program will allow depositing Native $COTI  in the COTI Treasury and committing for longer periods of 180, 270, and 360 days, without redemption before the end of the period. This campaign will only allow deposits with an X1 multiplier. By doing so, the participants will be eligible for both APY and gCOTI distribution. This campaign is planned for the first week of April, and it will last for two weeks. *The first participants to join the campaign will enjoy an Early Bird special bonus!An active deposit in the Treasury can be transferred to the gCOTI campaign for no additional charge.

The second campaign will allow VIPER wallet holders to deposit ERC20-based tokens such as COTI ERC20, USDT, and USDC for similar periods and terms, to receive Native gCOTI. This campaign is planned for the 3rd week of April, and it will last for two weeks.

Participants in both campaigns will receive the gCOTI simultaneously, but there will be a different gCOTI allocation for each campaign, and the amount of gCOTI distributed to each participant will be determined based on the amount committed and the commitment period.

The campaign participants will become the inaugural gCOTI holders in the world, and they will be able to use their tokens almost immediately to increase their Treasury APY!

A campaign for ERC20 token holders with no VIPER wallet:

The first two campaigns will require a VIPER wallet in order to participate and receive the Native gCOTI. However, an exchange-based airdrop campaign is also scheduled in which COTI ERC20 holders can lock their $COTI tokens to similar terms and receive gCOTI at a later stage, without the need of having a VIPER Wallet.

We’ll be sharing all campaign details in the near future, so stay tuned. Please note that the dates are subject to change.

After the airdrop campaign, we plan to launch a special community campaign that will reward community members who help spread the word about the COTI ecosystem. Community members can participate in content creation competitions, and the winners will receive gCOTI tokens as a token of appreciation for their efforts.

To ensure that this campaign remains community-oriented, a voting committee of loyal community members will determine the qualifications for receiving rewards and who would be rewarded.

The campaign is planned for the end of May. All details will be announced as we get closer to launch.

Total supply will be 1B tokens.

Airdrop campaign — 8.5–10%

Minimum 8.5%, Maximum 10%, depending on the amount deposited, distributed over the locking period.

If not reaching the maximum, the rest will be allocated to reserve.

Development — 18%

3 years linear vesting with 6 months cliff.

Treasury — 42%

Distributed as APY to Treasury participants.

5 years from the completion of the airdrop campaign.

Reserve 30–31.5%

Will be distributed as per governance decision for the benefit of the ecosystem.

2 years cliff

* The community tokens and reserve tokens will be distributed as per actual usage and requirements of the platform, but for demonstration purposes, the graph assumes linear vesting over 5 years and 3 years, respectively

What’s Next?

gCOTI airdrop campaign for Native COTI deposits is planned for the first week of April and will last for two weeks.

gCOTI airdrop campaign for ERC20-based tokens deposits is planned for the 3rd week of April and will last for two weeks.

After the completion of the airdrop campaign, we will launch the Exchange-based campaign where users will be able to lock their $COTI ERC20 tokens and be eligible for gCOTI ERC20 rewards.

We will introduce the gCOTI APY booster feature.

A community campaign is planned for the end of May, allowing community members to contribute to the COTI ecosystem and be rewarded with gCOTI.

gCOTI will empower community governance over COTI’s Treasury for the first time ever, and will enable a greater utility to the COTI ecosystem as a whole. We will roll out our plans for the gCOTI campaign soon. Stay tuned for further updates.

Stay COTI!

For all of our updates and to join the conversation, be sure to check out our channels:

Website: https://coti.io

Twitter: https://twitter.com/COTInetwork

Telegram: https://t.me/COTInetwork

GitHub: https://github.com/coti-io

Discord: https://discord.gg/9tq6CP6XrT

Medium: https://medium.com/cotinetwork

CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI

Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf