July’s staking rewards have been successfully distributed on August 1st to all of the stakers who claimed it.
All stakers continued to receive a reward higher than the guaranteed annual return, ranging between 21% and 38% depending on the staking plan and the node’s performance.
Last month, COTI counted a monthly processing volume of $8.5M compared to $8M in June. Thanks to the significant spike in COTI’s average coin price this month, the increase in the COTI-based volume was more modest, which affected on the amount of fees collected; to demonstrate, the following is an example: when COTI price is $0.03, a full transaction of $1,000 is translated to 33,333 COTI, but if the COTI price is $0.04, the same transaction requires only 25,000 COTI. Assuming 0.01% fee, the first transaction charges 3.3 COTI as transaction fee, while the second charges only 2.5 COTI.
August will mark the launch of the first merchant to use Blockchain Dollars and the growth in volume will keep extending. COTI continues to maintain a healthy and rewarding environment for node operators and stakers, continuously making sure that we align the growth in staking volume with the growth of processing volume.
Earlier this month we launched the ability to purchase COTI directly via credit cards in KuCoin and ChangeNow.io, an option that will expand to more partners and exchanges soon, and we expect it to increase the liquidity in COTI, engaging new audiences that join our ever-expanding community.
We keep building to allow more people to stake COTI. Following our announcement about the new Community node, Lars Node, that went live on August 1st, we added 5M COTI into the staking volume, with a total of 50M COTI that can be staked directly on our Staking 2.0 platform and 70M COTI on Binance and KuCoin.
The demand to join the Staking 2.0 program continues to be very high and we do our best to include as many participants as possible through time. We thank you all for your patience.
For the full introduction to COTI’s Staking 2.0, click here.
To apply to Staking 2.0, click here.
Stake COTI, Stay COTI!
For all of our updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io
Twitter: https://twitter.com/COTInetwork
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Discord: https://discord.me/coti
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf
