The COTI 2022 Roadmap — The Ultimate Layer 1 for Payments
2021 was a groundbreaking year for COTI (read our year-end review to know more), and we expect 2022 to be even bigger. Continuing our efforts in remaining transparent with our community, we have outlined some of the major initiatives for the year in the roadmap below — this will guide the team and our community as we continue to build the ultimate Layer 1 for payments.
We are building the next generation of financial and digital products encompassing various aspects of the new digital economy. We are building from the ground up, from Layer 1 to Apps, to serve as a fully encompassing ecosystem.
Crypto needs a Layer 1 that is suitable to the unique needs of consumer-merchant payments, and COTI provides exactly that with our DAG based Trustchain. We will also build the necessary tools for mass adoption by providing wallets, banking solutions, processing tools and more.
This year, we take a huge leap forward by opening up to issuance of more tokens on top of our Trustchain, using the unique MultiDAG 2.0 layer. The ability to issue tokens on top of a DAG infrastructure is unique to COTI and will allow developers, merchants and enterprises to issue tokens that inherit Trustchain abilities like great scalability, high throughput, low cost and off the shelf tools for payments like COTI Pay Business.
Once MultiDAG 2.0 is on Mainnet, we’ll be ready to launch multiple tokens such as a governance token for COTI’s treasury, the first enterprise token, a payment token on top of the Trustchain and more. These will obviously grow COTI from a one coin network to a Layer 1 with multiple tokens on top of it, used by consumers and merchants around the world.
If that’s not enough, this year we’ll also issue the Djed token, Cardano’s formal algorithmic stablecoin. Djed is highly expected by the Cardano ecosystem and will be widely integrated by DEXs, wallets and dApps on top of Cardano.
COTI’s ecosystem growth will be highly rewarded for COTI holders both in the form of the demand to COTI and also by rewards funneled to the Treasury and to COTI stakers.
We have recently released the first iteration of the Treasury , which was a huge success, and we plan on continuously developing it throughout 2022.
Given the agile, fast-paced environment of both COTI and the crypto economy, we have released some high-level frameworks that will guide some of our strategic milestones for 2022. We will be releasing more details and technical insights on each of these products to our community as we approach the final launch.
Trustchain and Network infrastructure
Following the release of Trustchain 2.0, we are already working on MultiDAG 2.0. Through MultiDAG 2.0, developers, merchants, and enterprises will be able to issue tokens on the Trustchain and then transact using these tokens across wallets like VIPER and COTI Pay Business, and all our other products and partner ecosystems. We are very excited about this launch because the MultiDAG 2.0 infrastructure is a unique solution that no other Layer 1 blockchain technology can offer.
In April 2022, we will be releasing a FoxNet followed by a Testnet towards the end of May. Once the Testnet is launched, COTI will define a new token standard, relating to the $COTI Native coin in the same way ERC20 tokens relates to $ETH.
Since such tokens will be issued on the COTI Trustchain protocol, utilizing them in transactions will lead to significant advantages like low transaction fees and high scalability.
In Q3, we will then be launching the MultiDAG 2.0 on Mainnet.
To accompany this launch, we’ll be releasing new versions to both the bridge and the Trustchain explorer — both of which will support and improve the technical development capabilities of the MultiDAG.
Releasing this upgrade will be one of the major highlights of our 2022 calendar year and we will be providing frequent updates to the community on our progress.
Coin as a Service
As we continue to build the ultimate Layer 1 for payment, we see the huge need for innovative and technical payment solutions for our enterprise clients. Following the Mainnet release of MultiDAG 2.0, we’ll be offering our enterprise clients to utilize our MultiDAG technology to issue stablecoins and other digital currencies on their terms.
Some of the benefits of this service to our clients include:
- Lower transaction costs and scalable infrastructure
- Flexibility to issue as many tokens as necessary with limited costs
- Privacy modules and full technical support from the COTI team
Throughout Q1, we will be working extensively with our design partners and our first major enterprise client to customize the product based on the client’s requirement — we will present this case study to the community once finalized.
COTI Pay Business V2
Following the release of the Coin As A Service offering, we’ll be launching the next version of COTI Pay Business. Through the COTI Pay Business V2 product, merchants will be able to utilize new COTI Native assets as payment methods across retail and merchant transactions. Given the secure and innovative infrastructure of our Trustchain and MultiDAG will enable merchants and businesses of all sizes to take advantage of our technology at limited costs.
Later in Q4 2022, we plan on launching our first enterprise token with our first enterprise client. We have been working for more than a year to secure this deal and plan to reap the fruits towards the end of 2022. This enterprise token release will mark a huge milestone in our journey and we will be providing an extensive case study and more information on our first client in the coming months.
The COTI Treasury
The Treasury is a very exciting concept for us because it seamlessly integrates the rewards from COTI’s ecosystem products and services into one platform. Through the Treasury, users can deposit $COTI in a pool and get rewarded for their participation. When users deposit (stake) $COTI into the Treasury, they are entitled to a share of the overall Treasury pool, which will continuously grow as more fees are collected from the COTI product ecosystem.
The COTI Treasury has been successfully launched on February 1st, 2022. Since then, there have been more than 330,000,000 $COTI deposited into the Treasury.
Following our recent launch, we will keep on updating the Treasury with more functionalities and features that will improve the overall user experience. Some of the features will be available during Q2 and some of them in a later phase.
Please visit here to learn more about the Treasury.
The first token to be issued on top of the MultiDAG 2.0 Mainnet is the Treasury Governance Token. The governance token will allow its holders to participate in the governance of the treasury protocol while rewarding its holders for their participation. The governance token will be distributed to the Treasury’s users and for users that continuously contribute to the growth of the Treasury. The governance token is planned to be launched in Q3, following the release of the COTI MultiDAG, and will allow its holders to debate, propose, and vote on changes to the protocol. We’ll be sharing more information in the coming months, but we encourage the community to actively participate in the Treasury to become eligible to receive the governance token when it is airdropped!
Djed Release & Implementation
Cardano and COTI have been working together on releasing Djed since it was announced during the Cardano summit last year. We have implemented all the necessary groundwork for a successful launch and continue to explore multiple partnerships to ensure Djed’s full integration and utilization across the crypto ecosystem.
In Q1 2022, we will already be able to launch Djed on Testnet. Upon launching the Testnet, an external security audit will be performed. After we receive the results of this security audit, we’ll move on to the Mainnet, which is planned to be released by the end of Q2.
We have formed strategic partnerships across over 10 DeFi and NFT protocols, that include SundaeSwap, Aada Finance, Indigo, DOEX, AdaSwap, ErgoDEX, and lots more. These integrations will ensure Djed is adequately utilized once launched while creating an increased use-case for the stablecoin across multiple platforms. Following the mainnet launch, we will shift focus to managing Djed’s liquidity bootstrap and ecosystem implementations. Be on the lookout for more details regarding Djed.
To coincide with Djed’s launch, we will also be releasing Djed’s algorithmic reserve coin — Shen. Through this reserve coin, Djed users will be able to contribute to its algorithmic mechanism by providing appropriate liquidity for the peg ratio while receiving a share of the transaction fees as an incentive, while $ADA remains the collateral in the system.
We recently published a brief overview of Shen here and our product teams are making good progress on the technical development side. Shen will be launched on the same date as Djed’s Mainnet.
2022 is the year during which COTI’s network will exponentially grow from one coin to multiple tokens: Enterprise tokens, Merchants tokens, Governance token, Djed and more.
We’ve set ambitious goals for 2022 and we encourage you to follow our channels to receive real-time updates on new developments. We will also be hosting a lot of AMA’s, competitions, and many more activities in the coming weeks.
We’ve been and remain grateful for our community’s continuous support!
2022 is the year we achieve even greater heights.
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