May rewards marked the first reward round of Staking 2.0, and has been successfully distributed on June 1st, giving high annualized rate returns ranging from 28% to 43%, depending on the staking plan and the node’s performance.
The total staked amount in May was 70M COTI, 30M of it were staked through exchanges. This marks a huge growth compared to Staking 1.0 in April 2020 when less than 5M COTI were staked. The demand for staking COTI remains extremely high as the demand for May has exceeded 200M COTI. To add to that, the demand for exchange-based staking has also been remarkable: The allocation to KuCoin, has been claimed in less than 5 minutes and the allocation to Binance was gone in 1:15 minutes, setting a record on the platform!
More to come on exchanges…
As indicated in our earlier publication here, COTI’s increased online processing for merchants this month, coupled with our recently launched credit card processing, has resulted in a record month for COTI’s network activity, with approx. $7M in processing volume, representing 40% growth from the previous month! This continual increase in merchant processing volume on the COTI network is very encouraging and as such, we expect to meet our goal to process $120M on the COTI network this year!
COTI maintains a healthy and profitable environment for node operators and stakers, making sure that we align the growth in staking volume with the growth of processing volume. Though we have seen more than a 10X growth on staking volume, the rewards remained outstandingly high, marking us as market leaders. As of June 1st 2020, node operators are able to set their own fees, creating a new way for node operators to affect their rewards.
In total more than 1M COTI were awarded in May 2020 to the 8 nodes and their respective stakers.
For the full introduction to COTI’s 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
