COTI Coin One Year Anniversary
A year ago, we had the privilege of launching two of our most important achievements to date: COTI Token Generation Event and COTI MainNet.
One year later, we are proud to count many meaningful milestones through which COTI has evolved to be a strong company. As part of these milestones, we count merchants using COTI Pay as a technology provider creating a wallet and payment system, like Blockchain Dollars and MyFirstWallet. But also credit card transactions being processed on the COTI network.
All this made possible the constant growth in COTI’s merchants’ processing volume. May was a record month with over $7M in processing volume, representing 40% growth from the previous month! And we expect the volume to reach $120M by the end of this year.
To date, COTI has released 25.7% of its coins which are now in circulating supply, with an average daily trading volume of more than $2M.
As the network has rapidly grown and matured since the COTI coin was first distributed, it was natural to revise and update our token metrics to match such growth and to benefit the ecosystem. Coin distribution now happens only twice a year, we have locked out 400M coins from our supply, and the team has extended its lockup by 10 years!
See more on what COTI plans for the rest of 2020 in terms of technology achievements here.
COTI on exchanges
From the Token Generation Event (TGE) that happened in parallel to the IEO held on KuCoin, on June 4th, 2019, we are proud to count 10 exchanges COTI is listed on to date: Binance, KuCoin, Binance DEX, Bitmax, Bithumb Global, Gate.io, Bidesk, Coinbit, IDEX, CoinDCX, plus Indodax on which COTI will get listed this week.
With that much meaningful listings and more to come, COTI covers a large part of the globe and is widely available.
COTI’s MainNet and Nodes
COTI’s MainNet was launched on June 4th, 2019 with two full nodes controlled by COTI.
To date, we count eight additional full nodes operated by community members. Even more so, as of June 2020, node operators were able to set the fees they wanted to apply to their node.
The total staked amount in May was 70M COTI, 30M of it were staked through exchanges. This marks a huge growth compared to Staking 1.0 in April 2020 when less than 5M COTI were staked.
We are excited to update that an additional node will be added to the MainNet on July 1st, 2020, opening more staking spots for those waiting patiently. Stay tuned!
At COTI, we work tirelessly to keep COTI high in the eyes of the community. Some events made it even more intense, like the Binance listing since when we have been getting non-stop offers for new partnerships, listing opportunities, and more.
We’ve also had a peak on all social metrics, as well as network volume and number of accounts opened.
In March 2020, we were counted among the most discussed coins on Twitter (3rd position!) and we remain on the list since then.
In celebration of the COTI coin anniversary, we decided to have some community fun just like the good old days!
See you on Thursday, June 11th for a special One-Year edition of a trivia time!
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