Treasury Updates- A New Multiplier Option
Our last Treasury Update took place a month ago, and we have now further updates to share with you.
COTI’s Treasury is an algorithmic pool of $COTI that enables users to deposit $COTI and get token rewards for their participation. Users can deposit and top-up active deposits with additional $COTI at any given time. Deposits earn an APY in the form of Treasury rewards based on the deposit multiplier (e.g. x1, x2, x3, x4) and the lock period (e.g. Unlocked, 30, 60, 90, 120 days).
We are continually making improvements to the Treasury based on our community’s feedback and data. We have noticed that there is little demand for the 3x multiplier, and along with the fact that we received a lot of requests to boost the multiplier by more than 4x, we have decided to remove the 3x multiplier and add a 8x multiplier, giving users the option to select 1x, 2x, 4x, or 8x when making a deposit. This change will take effect later today. Users who currently have a 3x deposit in the Treasury will not be affected by this change, it will remain in the Treasury until you withdraw it. After that, you will not be able to make another deposit with a 3x multiplier.
Our next step will be to issue the Treasury’s Governance Token after launching MultiDAG 2.0. 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 to users who continuously contribute to the growth of COTI’s network, community and Treasury.
We will continue to share updates as always.
For more information and tutorials about COTI’s Treasury, read below: https://medium.com/cotinetwork/a-new-era-for-coti-has-just-begun-the-coti-treasury-is-now-live-36d4bceb6540
Check out our Treasury step-by-step guide: https://medium.com/cotinetwork/coti-treasury-step-by-step-guide-6a706ebcce86
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