Its been a busy week for the development team! In this update we’ll be looking at key preparations for the COTI Mainnet launch.
- Testnet upgrade and reset
- V1 -> V2 Pools strategy
- Hacken Audit Progress
Let’s take a look at what these will involve.
Testnet Upgrade: Coming Soon
We will soon be making a significant upgrade to the COTI Testnet, which will require a reset to activate the new functionality. We will be performing the testnet upgrade on Wednesday, March 5 at 10:00am UTC. The upgrade is expected to take around 3–4 hours, during which the testnet network will be unavailable.
This upgrade will reset the COTI network, meaning all deployed contracts will need to be redeployed.
The upgrade is a major step towards Mainnet launch and includes several improvements:
- Robust error management and bug fixes to ensure thorough input validation in both MPC and Geth.
- Adjusted gas pricing for the shifts and getUserKey functions.
- Refined minting mechanism in line with the inflation scheme.
- Updated Checked operations to return an encrypted flag, rather than reverting on overflow or underflow, as they do at present.
These upgrades will improve network stability and security ahead of Mainnet and provide COTI’s developer community greater control when building applications.
COTI V1 -> V2 Pools Strategy
As we approach the V2 launch, the COTI team has been preparing for the process of migrating pools of funds from the original network to the new L2.
Our approach is to ensure that every type of token on the existing V1 network is mirrored by a pool of the same size on V2. When tokens are migrated from one network to the other, they will be locked on V1 and made available on V2. Users can transfer their tokens between V1 and V2 using the COTI bridge, and over time, as more tokens move to V2, the available amount in V1 pools will gradually reduce to zero.
The Pools system enables all tokens to be consistently accounted for across both networks, simplifying the transition to COTI V2.
If you have any questions about the testnet reset or Pools migration, check in with the developer team on Discord.
Security Audit Progress
The audit with Hacken is still in progress, and we’re pleased to share that high-level feedback continues to be positive. No critical issues have been discovered so far, and our ongoing collaboration with Hacken is both productive and reassuring.
We’re actively addressing their insights to further enhance our platform and will keep you updated as the audit advances.
Stay tuned for more details as we continue to progress towards Mainnet launch.
Stay COTI!
For COTI updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io/
X: https://twitter.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
