Processing Volume Has Increased To Nearly $25M And May Staking Rewards Distributed
We are happy to share that the staking rewards for the May cycle have successfully been distributed today, June 1st, 2021, to all the current stakers.
COTI’s staking reward model is based on the merchant’s transaction volume that is processed on the Trustchain. It generates fees for node operators and stakers. Last month, COTI generated a transaction volume of nearly $25M, almost 8% higher than last month. The Staking rewards of this month will be the guaranteed rates.
As announced last week, we are adding a new community node as of today: The Nightshade Node! The new node brings our total MainNet staking pool to 129M COTI through all of its 20 nodes, of which 13 are Community nodes with 8M COTI capacity each.
Adding the new Community node from June’s staking cycle allows us to keep on upgrading the existing stakers’ amounts as well as adding new stakers into the program. We are happy to share that we approved more than 350 new stakers this month!
We welcome the new COTI members, and we remain dedicated to maintaining a high return for the staking program and keeping on expanding it.
We are aware of the COTI staking program waiting list length, and of its continued growth alongside our community.
Stake COTI, 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