Lift Off! COTI’s First PPN Has Successfully Soft-Launched Along with its First Token: $DPINR
We are delighted to announce that after more than a year of intense development and rigorous testing, we have successfully launched our first client Private Payment Network (PPN) solution, and its token: Delta Platinum INR.
As we’ve previously disclosed, our client runs a significant gaming platform with a user base numbering in the millions. While we’ve had this agreement in place for some time now, our delivery date was always earmarked for Q4 of 2023, placing the launch of the PPN firmly on schedule.
The successful launch follows an extensive collaborative period, during which our team worked closely with our client to ensure that all their requirements were met. The result was a robust and feature-rich solution that offers substantial benefits to both our client and its vast user base. This included a cost-effective solution that is scalable, has real-time reporting capabilities and gives them full control over their digital asset environment.
Launching the first client Private Payment Network is a significant milestone for COTI as it not only showcases our expertise across multiple technologies, but also helps to boost COTI’s network usage and subsequently, the fees generated.
This PPN and all generated tokens will be among the first projects migrated across to COTI V2 during 2024, inheriting all the unique privacy features running on our updated infrastructure.
How does a PPN work?
Built as a custom solution, the PPN is an integrated payments system comprising three main components: a CRM, a COTI router and a private payment network capable of minting and burning CMD-standard tokens. This gives our client full control over their digital asset management while reducing transaction fees within their platform.
As of this moment, 100 Billion DPINR (Delta Platinum Indian Rupee) CMD tokens have already been generated. Watch the tokens generation process performed by Shahaf Bar-Geffen, COTI’s CEO:
Users will be offered compelling incentives to transact in these new tokens due to the substantial operational cost savings they offer to our client. These transactions will be seamlessly routed through COTI’s infrastructure, ensuring scalability, performance, cost-effectiveness, and robust data management, all while the COTI ecosystem will benefit from an increase in transactions on COTI’s mainnet.
As a lot of our partner’s users come from Asia, we opted to use an instance of the TRON blockchain on the client side with a COTI router in the middle. TRON wallets are already held by a considerable portion of our client’s users, making this integration much simpler.
When a user acquires TRON-based tokens using their TRON wallets, the tokens are converted to the corresponding CMD tokens via the COTI router on the back-end. This CMD standard provides additional benefits to our partner including low-cost transactions, instant settlement and the ability to scale operations based on demand. Additionally, the entire TRON-CMD transaction happens in the background with no additional input from the user.
This gives our client the ability to not only mint and burn tokens that represent real-world currencies on demand, but tailor that process to align with their utility and usage requirements. The process also ensures that both token transactions and deposited amounts are recorded correctly and securely on the blockchain.
What is a Soft Launch?
A soft launch refers to the gradual rollout of a system in order to test, optimize, and gather feedback. This was the method preferred by our client, who wanted to evaluate the performance at each step. For this reason, the launch of the PPN will occur in phases, starting with India and utilizing the $DPINR. Within a few months, we will expand to $DPTHB (Thai Baht), $DPCNY (Chinese Yuan Renminbi), $DPYEN (Japanese Yen, and $DPKRW (Korean won).
What’s next?
A soft launch is just the beginning! Once proven successful, we expect to expand across multiple jurisdictions and audiences, eventually becoming available to the entire platform’s user base, becoming a significant payment method for our client.
At this point, our client will join us to co-announce the full launch via a joint media announcement.
We are extremely proud to reach this milestone. A serious brand with an immense global reach and several subsidiaries is the perfect example of the type of enterprises COTI is capable of supporting.
As announced last week, COTI will evolve into COTI V2: a Privacy-Centric Ethereum L2. Building upon the existing strengths of COTI, the PPN solution was designed to be compatible with COTI V2 once it is launched. we will be integrating the PPN solution into the most advanced, privacy-centric Web3 infrastructure to date. During the testnet release phase, we will initiate the migration of clients and products from COTI V1 to COTI V2, including CMD tokens such as DPINR, PPN clients, and more.
Make sure you stay tuned for more updates!
Stay COTI!
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