COTI’s Network Growth, Adoption and Better Interoperability Between Chains
We live in exciting times, when cryptocurrency grows day by day, adopted by an ever increasing number of institutions and everyday people around the world, be it dApps, Defi services, NFTs, Portfolio Management, and, of course, payments.
COTI has been taking part in this revolution by focusing on reinventing payments, an ambitions endeavour that has so far seen great success and has surpassed even our greatest expectations back in 2019, when we had just started serving merchants.
Network growth and adoption:
Since then, we have seen an immense and constant monthly growth in demand for our services and technologies as demonstrated in the processing volume graph below:
Top merchants, like Dafabet, Soft Gamings, 10bet, Kindergroup, Unibet, Microgaming, Jet Bingo, and over a 100 more have all chosen COTI. Even market leaders, like Cardano ($ADA), put their trust in COTI. We are forever thankful for their choice which serves both COTI and $COTI holders to a great extent. Our community of $COTI holders profits from the processing volume that runs on the Trustchain and from the subsequent growing demand for the Native $COTI. This, in turn, expands the usage of the network and the amount of the rewards for Node operators and Stakers, which then reduces the circulating supply. Everybody wins.
New opportunities with merchants:
The rapid growth in processing volume by merchants, accompanied by the surge in the price of COTI, is challenging for merchants who are required to pay their fees for transactions using $COTI. We have identified this opportunity and COTI has proposed merchants to commit to a long term partnership which will allow them to acquire substantial amounts of COTI in pre-defined terms, in order to ease their network fees payments. This would give merchants a higher certainty regarding their future costs, while securing longevity and benefits within COTI’s ecosystem. The acquired $COTI will flow to the network in the form of fees paid as rewards to Node operators and Stakers. We believe that this long term commitment will create a true win-win situation for all stakeholders in COTI, in which coin holders will benefit from the increased network usage, the higher demand for $COTI and the secured rewards, while merchants will enjoy predictable terms and stable liquidity. We are truly excited about this achievement and the meaning it holds for COTI.
We have also set a plan to incentivize merchants who work with Paywize, COTI’s credit card processing solution, to shift more and more of their traditional processing volume to COTI’s Trustchain based digital processing solution. We expect this will lead to further adoption of blockchain-based technologies by traditional businesses and users, which is what we aspire to and are already very excited to see happening. It’s time to push hard for an even wider adoption!
To meet the rapid rate of adoption we needed to amend COTI’s 10 year token distribution plan, which was initially developed a while back, to match the existing needs of the network, its users and its merchants.
Liquidity and better interoperability between chains:
We understand that we need to streamline the liquidity between all of COTI’s chains (Native Trustchain, Ethereum and Binance Smart Chain). The increased demand by merchants and stakers for the Native $COTI on one hand and the growing trading volume on $COTI ERC20 on the other hand are both good yet conflicting. This situation creates technical challenges that lead to inconsistency of price between exchanges and overload on the Cross-Chain Bridge. As we are always attentive to our community needs, we’d like to solve this for good. We are at the final stages of integrating the Native $COTI on a major exchange to significantly increase Native $COTI liquidity. In addition, we are placing a cross-exchange market-maker liquidity pool, consisting of $COTI Native / $COTI ERC20. This will allow better interoperability for users and serve merchants needs right as well as safeguard the network’s smooth operation.
In order to test the cross-exchange liquidity pool, we’ll soon be opening the bridge, for a limited capacity. We’ll share an update about the bridge opening via our official Telegram group.
We are extremely excited to live in times of technological revolutions and are humbled to take an active part in it. And you, our dear community, are our partners in this thrilling journey. You are the engine of our motivation and the very center of our reflection at each and every step of the way. We’re happy to be able to share the network’s success with you.
We’d like to thank all of you for supporting us and sending out the word of COTI everywhere.
We have an amazing year ahead of us and many great things are coming.
For all of our updates and to join the conversation, be sure to check out our channels:
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf