gCOTI Unlocks an APY Boost of up to 800% for $COTI Treasury Deposits. Here’s How it Works.
One of the key utilities of COTI’s governance token, gCOTI, is to provide an APY boost to COTI deposited in the Treasury. This function will be enabled starting next week and will allow users to deposit gCOTI in the Treasury to boost their APY by up to 800% from the base APY in the Treasury. The APY boost feature can be applied on every $COTI deposit in the Treasury, regardless of whether it was made through the gCOTI campaigns or not. The APY boost as the name implies, boosts the rewards of $COTI deposits, which are in $COTI.
In this article, we’ll explain exactly how the gCOTI APY Boost function works and how to use it.
How Does the APY Boost Work?
When deposited in the Treasury, gCOTI will provide a boost of up to 800% on the Treasury Base APY, at a ratio of 1:1 (each gCOTI will boost the APY of 1 $COTI). In the current yields, this is equivalent to an additional ~16% to your current APY. As the maximum ratio is 1:1, users cannot deposit more gCOTI than they have $COTI deposited in the Treasury.
Users can boost the APY of any Treasury deposit, new or existing, regardless of the locking period, any multipliers, or if it was part of the gCOTI Airdrop Campaign.
It’s important to note that unlike some $COTI deposits, the deposited gCOTI aren’t locked. Even if they are boosting the APY of locked Treasury deposits, users can withdraw their gCOTI deposits at any time.
Keeping in mind that at any given time, there cannot be more gCOTI than $COTI on a single deposit. This means that if a user decides to withdraw an amount of $COTI from a deposit that is receiving a max APY boost, an equivalent amount of gCOTI will also be withdrawn.
Scenarios
- John deposited 1,000 $COTI in the Treasury as part of the gCOTI Airdrop Campaign. His deposit is locked for 180 days with a current APY of 5%. In order to receive the max APY boost on his deposit, John deposits 1,000 gCOTI to the Treasury. This will boost his base APY by 800%, and will add 16% to his existing APY, bringing it to 21%.
- David has a deposit of 1,000 $COTI in the Treasury. With no multiplier or lock applied to his deposit, his APY is currently 2%. He received 500 gCOTI as part of the gCOTI Community Campaign and deposited it to receive 50% of the max APY Boost possible. This will boost his base APY by 400% and will add 8% to his existing APY, bringing it to 10%.
- Sophie has a deposit of 500 $COTI locked in the Treasury for 120 days. Her deposit has a multiplier of X2, bringing her APY to 10%. She deposits 500 gCOTI and receives the max APY Boost possible. This will boost his base APY by 800% and will add 16% to his existing APY, bringing it to 26%.
The APY boost feature will become available next week, make sure you’re ready by watching this tutorial:
gCOTI’s APY boost represents the first step in the evolution of COTI’s Treasury and the growth of the ecosystem as a whole.
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
