400M tokens which are currently held directly by COTI as part of the ecosystem allocation are going to be locked for 12 years, with a 3-year cliff before any of these tokens can be accessed and with a much slowed release schedule at this 3-year mark. These tokens will be converted to ERC20 COTI tokens and locked behind a trustless timed smart contract.
We are going to use ERC-20 smart contract which is transparent and can be viewed via etherscan.
How it works
1) Implement a TokenTimelock in ERC-20
A TokenTimelock contract will allow us to lock our converted native tokens in a smart contract which supports time-based release and a lockup till the release date.
2) Once deployed we will transfer the tokens to the timelock contract address.
3) Once the tokens are transferred to the contract address the tokens are locked till the released date and any release call will fail
4) Once the release date is reached the tokens will be released to the sender address
Read the full COTI’s Token Metrics Revision & Network Growth article here.
COTI Resources
Website: https://coti.io
Telegram: https://t.me/COTInetwork
Twitter: https://twitter.com/COTInetwork
Github: https://github.com/coti-io
Discord: https://discord.me/coti
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
