COTI is proud to announce its partnership with Bancor, a leading decentralized liquidity network that allows anyone to easily hold and convert Ethereum ERC20 tokens.
COTI will adopt the Bancor Protocol to advance its decentralized tech solutions for millions of users.
Bancor will provide COTI with liquidity by creating a smart contract via the Bancor Protocol. This will be enabled by Bancor Smart TokensTM, which interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive.
The adoption by COTI will reduce the persistent problem of crypto volatility, allowing COTI to function as a currency of everyday conversions. As a result, holders of COTI will be able to utilise a fast and secure decentralized exchange within the COTI protocol.
COTI is a FinTech company that has developed a base protocol, known as the Trustchain™, which aims to address technical challenges plaguing other existing cryptocurrencies and limiting their mass adoption. The COTI Trustchain is based on a DAG data structure that is able to process 10,000 transactions per second.
The first key use-case that COTI has implemented on this new technology is a payments transaction network, built from the ground-up. The consumer-merchants payments industry is estimated to be a two trillion USD market, however it has been monopolized by Visa and MasterCard for the past 40 years. COTI’s decentralized and scalable payments network has been created to facilitate efficient global commerce. Developed by experts in several industries, including the former CEO of Investec bank, Steven Heilbron, COTI combines the best of traditional payments systems with the best of blockchain technology to offer a fast, easy, cost-effective and trusted way to pay.
Bancor held one of the most successful Token Generation Events of 2017, raising $153 million from 10,885 participants in less than three hours. The Bancor Protocol utilises an innovative Smart Token connection mechanism, allowing any token to be instantly convertible to any other at continuously calculated prices directly from the Bancor Wallet or any Web3 wallet, such as MetaMask.. By doing this, Bancor solves liquidity issues of small market cap tokens, which are usually dependent on centralized exchanges, and it acts as a platform for peer-to-peer conversions via a Smart Token system.
Shahaf Bar-Geffen, CEO of COTI commented:
“Bancor offers a highly productive and efficient system in the world of crypto exchange. By providing COTI with liquidity, the Bancor system will let users of COTI carry out their payments with confidence,stability and speed. It is a big step for the development of our business, which will offer a solution to the key issues faced in the payments industry.”
Bancor and COTI will work closely together to ensure that COTI payments are processed through the Bancor Protocol with precision, enabling efficient liquidity.
For further information, visit COTI and Bancor or read COTI’s whitepaper here.
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About Bancor
The Bancor Protocol is a standard for the creation of Smart Tokens™, cryptocurrencies with built-in convertibility directly through their smart contracts. Bancor utilizes an innovative token “connector” method to enable formulaic price calculation and continuous liquidity for all integrated tokens, without needing to match two parties in an exchange. Smart Tokens interconnect to form token liquidity networks, allowing user-generated cryptocurrencies to thrive. To convert tokens instantly, visit the Bancor Web App or join the Bancor Telegram group for more information.
The COTI community is continuing to grow at an increasing rate. If you have any questions, you are welcome to get in touch with us on Telegram or via email. We will be providing further updates in the near future.
