We’re happy to announce that the new voting round for $gCOTI holders is now open! Starting today, the 18th of June, $gCOTI holders have the opportunity to vote whether or not to adopt our proposed Treasury fee model. The vote will close at 9 am UTC on the 24th of June with the results being shared soon after.
New Treasury Fee Model Proposal
As presented earlier this month, the proposed fee model includes significant reductions in the fees charged by the Treasury. Specifically, the deposit fees will be decreased, and the dynamic fees for withdrawals will be replaced with a significantly lower flat fee, as can be seen below.
Now it’s your time to decide whether these changes should be implemented or not!
As previously communicated, the decision to adopt this new fee model lies with $gCOTI holders. We strongly encourage all $gCOTI holders to participate.
How to Cast Your Vote
- Login to your VIPER Wallet: https://pay.coti.io/
If you still don’t have a COTI VIPER Wallet, here’s a step-by-step guide demonstrating how to create one. - From within your VIPER Wallet, navigate to the Governance tab on the left hand menu.
3. On the Governance tab, the current voting proposal is displayed.
You will be presented with a question: Do you support lowering the Treasury deposit and withdrawal fees to 0.05% and 0.25%, respectively? You will have two options to choose from:
- Yes
- No
4. In order to submit your vote, a voting fee of 0.00000001 $gCOTI is required. Select the address that is associated with your $gCOTI balance.
5. A transaction fee of 2 $COTI is required to vote. Select the address that will be paying the $COTI transaction fees.
6. Click on ‘Vote’ to submit your selection!
That’s it! The vote will close at 9 am UTC on the 24th of June with the results being shared soon after.
As the voting power is determined by the amount of $gCOTI held by the address used to vote, the voting option that has the largest amount of $gCOTI behind it will be adopted.
To learn more about the $gCOTI voting mechanism go to: https://medium.com/cotinetwork/announcing-gcoti-1st-vote-b1fc6144cbd2
Stay tuned for the voting results and 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
