Introducing Staking 3.0
Since we first introduced our first staking program, the tremendous demand to stake $COTI has made it one of the most popular and rewarding programs out there.
COTI’s staking program is built to compete with other income models and provides a means to generate a steady income from the process of transaction approval on the COTI network.
COTI’s staking reward model is based on the merchant’s׳ transaction volume processed on the Trustchain, generating fees for node operators and stakers. Therefore, with an ever-growing merchant’s׳ transaction volume, the staking program can only grow with time.
Throughout 2020, as our processing revenue surged, we were able to admit more nodes and more stakers into the program.
It’s time to grow.
We are thrilled to introduce the new and improved staking program. Staking 3.0 significantly extends the amount of coins that can be staked on COTI’s full nodes and supports the demand for the Native $COTI while reducing the circulating supply even further.
Registration for Staking 3.0 starts next week. Those who are admitted will go live starting March 1st, 2021.
About Staking 3.0:
- Staking 3.0 offers a greater staking capacity in all community nodes: Community nodes’ capacity will immediately grow by 40%, from 5M to 7M COTI, and is expected to continue to grow along with the processing volume growth.
- More full nodes will be added to our ecosystem, thus extending the overall staking capacity.
- Each participant can now stake more COTI and earn more rewards. On average, a staker can stake 25% to 33% more. This will allow many of our stakers to upgrade their current staking amount.
- New stakers who were on our waiting list for a long period of time will now be able to join the program. This will further extend COTI’s reach to more and more communities.
With Staking 3.0 launched on March 1st, the overall staking capacity will immediately increase from 80M COTI to 109M COTI, and will continue to grow.
The following table summarizes the staking classes of community nodes:
How can you participate in COTI’s Staking 3.0 program?
- Log into your COTI Pay wallet: pay.coti.io, enter the STAKING section and click “Apply” OR click directly on this link: https://coti.io/staking
- Insert the COTI MainNet wallet address you wish to receive your rewards to, then choose the amount you wish to stake and click “submit”
- Once your application is approved, you’ll receive a confirmation email with instructions as well as the amount approved for staking
- The “stake” option in your wallet will be available.
For those of you who are already participating in the current program, your seats are saved.
You’ll be able to upgrade your current stake until February 22th and you will receive an individual email with instructions.
- The Advanced nodes plan remains the same, but with a longer lockup period of 120 days instead of 90 days.
- Staking cycles are identical to the previous plan with the first and last day of each cycle being the first and last day of the month.
- The UNSTAKE and CLAIM processes remain unchanged as well. For further details, please visit this guide.
To apply for Staking 3.0, visit this full application guide:
Staking 3.0 Application is Now Open
We are happy to announce the application opening for COTI’s Staking 3.0 program.
We will also add another exchange-based staking program very soon. More details will be shared once available.
Stake COTI and Stay COTI!
For all of our updates and to join the conversation, be sure to check out our channels:
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf