The beginning of November has brought with it some technical progress updates. We’re pleased to share that our developer ecosystem is growing and we’ve introduced two new developer libraries. We have also taken the decision to remove the Rebirth phase from our roadmap and move straight to the Evolution phase at the end of Q1, as planned. Let’s dive in.
Dev News And Stats Update
Over the last week we have seen a marked uptick in testnet activity:
- +700% transactions
- +321% smart contract deployments
- +133% Typescript SDK downloads
- +28% Ethers downloads
- -20% Python SDK downloads
These impressive stats show that the growth of our developer community is picking up speed. COTI’s technology is clearly resonating with builders looking for a powerful and flexible approach to on-chain privacy.
New Libraries Available on Github
We have released the new coti-contracts library, which replaces the now deprecated “confidentiality-contracts” repo. coti-contracts uses a modern approach to help smart contracts developers leverage all the standard contracts available from PrivateERC20 to DataPrivacyFramework. Once installed, developers can use any of the contents with a simple “import” statement on their smart contract. You can find out more about the coti-contracts library on GitHub.
We have also released the coti-ethers library. This new Javascript SDK provides easy access to all the privacy-preserving features of the COTI network, with the familiarity and benefits of Ethers.js. Check out coti-ethers on our GitHub.
Mainnet Updates
We have decided to skip the expected Rebirth phase of COTI Mainnet launch, and progress directly to what we are calling Evolution, which is the enhanced version of the COTI Mainnet. Evolution is planned for Q1, as previously stated in our roadmap, so there is no expected change to that milestone.
We are confident that moving straight to the enhanced Mainnet launch at the end of Q1 is the best approach for COTI and its ecosystem. This launch will be the official debut of our revolutionary privacy protocol that is faster, lighter, and more efficient than existing solutions, so there is plenty to be excited about in the coming months.
Firstly, the COTI team will have time to increase the scope of Mainnet in the following ways;
- To build out a new node ecosystem, which is aimed at enhancing decentralization, along with the community and network growth this will bring.
- To enhance and improve the COTI Treasury.
- To complete MetaMask wallet support for a range of COTI tokens.
Then, critically, it also ensures enough time to fully audit and test the new Mainnet infrastructure as well as allowing for some tactical milestones to take place that will significantly support the Mainnet launch.
In light of extending the campaign, and in recognition of our loyal community members who continue to participate in the COTI V2 Airdrop Campaign, we will increase the campaign rewards from 40 million to 55 million $COTI. These rewards will come from an existing allocation of tokens that are designated for “Rewards, Incentives and Airdrops” as explained in a previous announcement where you can read more about the token allocation and supply model.
For community members participating in the Treasury V2 Airdrop Campaign up to this point, there will be no change to the rewards you have accrued. For those who wish to make a withdrawal, the rewards will continue to be available to you on a rolling basis and you are at liberty to withdraw at any time and collect the rewards you’ve accrued. Treasury users that will keep their deposit in the COTI Treasury, will continue to earn rewards according to the increased rewards pool.
We expect the TGE to be in alignment with the enhanced Mainnet launch in Q1, 2025. The Mainnet launch will be accompanied by listing announcements for the new network on our existing Tier-1 exchanges.
The Road To Mainnet
A number of different processes will be taking place over the next few months as we prepare for Mainnet. Here’s an overview of what’s involved.
Testing And Audits
We will be working hard to ensure that COTI’s Mainnet is robust and secure, and capable of operating as required to handle the rigors of real-world Web3 use.
- We’re working with the well-known security firm, Hacken, to conduct code audits. There will be a smart contract audit to ensure that all smart contract code is free from vulnerabilities, and a code review to check that the protocol code has no defects or other issues.
- A further bug bounty program will incentivize professional security auditors to review COTI’s public code and smart contracts.
- We will conduct load and stress testing to optimize peak loads, resource utilization, and latency, with further audits to ensure the best possible performance.
- We will undergo DevOps and Resiliency testing such as backups/archive nodes and redeployment.
- And set up Real time threat monitoring for operational resilience.
Token Upgrades
We are preparing to upgrade all tokens from COTI V1 to COTI V2 via the COTI Bridge. Funds held in the COTI VIPER self-custody wallet will need to be upgraded to an EVM self-custody solution, for example MyEtherWallet or MetaMask. In the case of COTI Treasury deposits, these will be upgraded automatically. For ERC20 token holders, no action is required, as the ERC20 contract will be unaffected.
We will provide further details about the bridge and the token upgrade process in due course.
Wallet Support
COTI V2 is an EVM-compatible platform. We are adding support for a range of COTI tokens to MetaMask, the most popular Web3 wallet and the default option for EVM blockchains. We will then explore further integration to include privacy features.
Next up, New Partnerships for COTI
We are on the brink of announcing our newest partnerships. We’re excited to reveal those to you in the coming days as we build out our ecosystem further with a range of brand new use cases for COTI’s privacy layer.
As we gear up for Mainnet, the momentum at COTI is stronger than ever. With new developer tools, expanded rewards, a new Node ecosystem, and MetaMask integration incoming, we’re on the brink of launching something truly next-level for Web3 privacy and scalability.
We’re excited to have such an amazing community along for the ride — your support and enthusiasm fuel everything we’re building here. Big things are coming, and we can’t wait to make 2025 a breakthrough year with you all.
Stay tuned, and as always, stay COTI!
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For all of our updates and to join the conversation, be sure to check out our channels:
- Website: https://coti.io/
- X: https://x.com/COTInetwork
- YouTube: https://www.youtube.com/channel/UCl-2YzhaPnouvBtotKuM4DA
- Telegram: https://t.me/COTInetwork
- Discord: https://discord.gg/9tq6CP6XrT
- GitHub: https://github.com/coti-io
