COTI Newsletter — September 20th

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COTI

4 min readSep 20, 2021

COTI’s plan to become a next-gen financial ecosystem captures media’s attention

Following the announcement of COTI’s growth plan, various media outlets have provided coverage on COTI’s roadmap to become a next-generation financial ecosystem. COTI was recently featured on Crypto New Flash, CoinQuora, and U.TODAY.

Why is this news so groundbreaking? First and foremost, it’s notable that enterprises and merchants across the world are beginning to accept crypto payments. For example, following the enactment of the law to recognize Bitcoin (BTC) as legal tender, El Salvador stated that businesses are now required to accept Bitcoin from customers. Once these transactions are settled, merchants in El Salvador will be able to choose to receive BTC or U.S. dollars. While El Salvador is just one example, statistics show that more than 2,300 U.S. businesses currently accept BTC. Moreover, the passing of Ukraine’s bitcoin bill could also result in mainstream crypto payments for this region.

At COTI, we recognized early on the need for a backend system to allow merchants and enterprises to process both crypto and fiat payments. We also understood that in order to make these payments seamless, a single financial system capable of processing transactions and more would be needed.

This is why we recently revealed our plans to transform COTI into a next-generation financial ecosystem. In a nutshell, we plan to combine everything that we already do into one cohort ecosystem. COTI’s future ecosystem will consist of the following components:

COTI’s Treasury — The Treasury will serve as a decentralized pool of $COTI. Users of all services pay $COTI coins to the Treasury. The entire ecosystem pays fees, directly or indirectly, to the Treasury. Users deposit $COTI and will be rewarded.
COTI users — Users make up the entire COTI ecosystem and will deposit $COTI in the Treasury to earn rewards
Stable coin factory — Clients around the world will be able to issue their own stable coins on top of our Trustchain.
Enterprise and merchant services — Merchants and enterprise users will be able to fully integrate our ecosystem with their backend system to process crypto and fiat payments and more
Treasury services — Users can borrow and lend $COTI. Interest and collateral will be deposited to the Treasury.
Ecosystem and partnerships — This will include everything COTI builds, along with systems not built on the Trustchain such as ADA Pay.
Trustchain — All network services will pay their fees directly to the Treasury, including the interoperability bridge and COTI-X (COTI’s fiat to crypto solution).

You can read more about our detailed plans to become a next-generation financial system here.

Also, be sure to check out our full AMA recap from the COTI Telegram group here to learn more about our future growth.

Occam.fi partners with COTI, as Cardano ecosystem continues to grow

This week, IOHK tweeted that the creation and execution of smart contracts is now available on the public blockchain for the first time ever. The Alonzo hard fork enables smart contracts to be written for Cardano using Plutus scripts, which is a purpose-built smart contract development language and execution platform using the programming language Haskell.

While this upgrade is still very new, and results are yet to be seen, COTI is proud that the Cardano ecosystem continues to advance. This is especially the case since COTI is the first company in the world to offer a Cardano (ADA) payment gateway.

Given our relationship with Cardano, we also have exciting news that we believe will help bring ADA payments to the masses. On September 13, we announced a partnership with Occam.fi — the first decentralized launchpad designed for the Cardano ecosystem — to explore potential development strategies. While the COTI/Occam.fi partnership is still in its early phases, we believe our collaboration will help enable users to participate in initial decentralized offerings in ADA through the OccamRazer launchpad.

You can read more about this exciting news here.

$COTI is available to swap on 1inch

We are pleased to announce that $COTI continues to expand! Most recently, the $COTI ERC-20 token has been listed on the decentralized exchange (DEX) aggregator protocol 1inch. This news comes shortly after COTI was listed on both Houbi and Coinbase.

You can read more about this news here.

The COTI listing on 1inch also comes at a perfect time, as the DEX aggregator has recently expanded to Optimism Ethereum, a layer-2 scaling solution. The aim here is to lower gas fees and increase transactions per second (TPS) for users. It’s been reported that this could result in savings of around 2x-10x compared to Ethereum, which could be huge for users trading $COTI on the platform.

Meet the team behind COTI

Please give a warm welcome to Dor Baron, COTI’s Customer Support & Marketing Specialist. Dor is an international relations expert who has gained extensive interdisciplinary experience in business development during his studies in Israel and Europe.

Dor supports COTI users across all of our social networks and channels, which has become more important than ever as our community continues to grow. Be sure to check out Dor in action, as he hosts COTI’s 4th NFT Raffle here.