March Staking Rewards Distribution and Greater Staking Capacity For April
We are happy to announce that the rewards from the first official staking cycle of Staking 3.0 have been successfully distributed on April 1st, 2021, to all stakers who claimed them.
COTI’s staking reward model is based on the merchant’s transaction volume processed on the Trustchain, generating fees for node operators and stakers. Last month, COTI generated a record transaction volume of $22.1M, which is 19% higher than last month. The Staking rewards of this month will be the guaranteed rates, due to an increase of almost 100% in COTI average price in March.
With the launch of Staking 3.0, the staking volume was raised to 109M COTI, as we opened the staking capacity in each Community node to 7M COTI instead of the previous 5M COTI.
As recently published, we decided to increase each Community Node’s capacity for April from 7M $COTI to 8M $COTI, thus adding 12M new $COTI staked, which brings the total staking pool to 135M COTI, taking into account the KuCoin staking campaign.
As a result, we were able to upgrade over 60 existing stakers and add over 200 new ones to the program!
We are extremely pleased to see how the ecosystem grows: More merchants processing a greater volume, thus adding organic demand for the Native $COTI, which makes it possible for us to increase the staking pool and rewards locking out more of our supply. We can all see and enjoy the results!
Stake COTI, stay COTI!
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Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf