A new proposal was recently presented for an updated Treasury fee model for the community to vote upon.
As of 9 am UTC today, the vote concluded, and we are pleased to share with you the results:
When asked: “Do you support lowering the Treasury deposit and withdrawal fees to 0.05% and 0.25%, respectively?”, the vote distribution was as follows:
Yes: 77.9%, representing a snapshot of 18,504,480.82 $gCOTI.
No: 22.1%, representing a snapshot of 5,261,407.07 $gCOTI.
At the conclusion of the voting window, a snapshot was taken today, capturing the $gCOTI balances of all voters, including their addresses and Treasury deposits. The total $gCOTI in the snapshot amounted to 23,765,887.89.
The new Treasury fee model will take effect starting July 2nd. Any deposits or withdrawals made after the new fee model implementation will be subject to the new fee structure.
As always, all fees are streamlined back into the Treasury and used as APY rewards for user deposits.
Please note that the fees are subject to change in the future.
We’d like to thank all the community members who took part in the voting process.
Stay tuned for more updates.
Stay COTI!
For all of our updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io/
X: https://twitter.com/COTInetwork
YouTube: https://www.youtube.com/channel/UCl-2YzhaPnouvBtotKuM4DA
Telegram: https://t.me/COTInetwork
Discord: https://discord.gg/9tq6CP6XrT
GitHub: https://github.com/coti-io
