Since last September 2021 when COTI’s growth plan from payments to a next-generation financial ecosystem was presented to stakeholders, the COTI team had been hard at work building out the Treasury, which is one of the core components of the evolving COTI ecosystem.
Just a couple days ago, COTI gave a sneak peek into what the new Treasury looks like, noting “As we approach the launch of our Treasury, we would like to share a glimpse of the interface with you. It has been an exciting journey building out the Treasury, and we can’t wait for the launch in a few weeks.”
Here is what the New Deposit page will look like:
Once released, the Treasury platform will replace the Staking 3.0 program that was launched last year. Unlike the Staking program, the Treasury is completely flexible and users are free to decide on how they want to participate and be rewarded. Using the Treasury, users will be able to decide exactly how much they want to stake, for how long and even adjust their deposit multiplier (risk level) — all of which will determine the user’s APY.
In the Treasury dashboard, users will be able to monitor and manage all of their deposits:
Additional information can also be found in the Treasury Whitepaper: https://coti.io/files/treasury_wp.pdf
A Few Key Things To Note Ahead of The February 1st COTI Treasury Launch Date
COTI users need to bear in mind that depositing in the Treasury is only available using a VIPER wallet and Native $COTI hence, they will need to have both. In addition to these:
- The Staking 3.0 program will end its life cycle on February 28, 2022.
- All previous staked COTI will be automatically unstaked on March 2nd 2022
- Users can continue to stake on the Staking 3.0 program during February while depositing any other amount of $COTI they may have to the Treasury.
- Users wishing to withdraw their staking before the end of February and move to the Treasury, will be able to do that at any time, by clicking UNSTAKE with funds distributed to them within 24 hours. However, unstaking before the end of February’s cycle will mean that they will not be eligible for February’s rewards.
In summary a user can be ready to participate in the new COTI Treasury by noting the following:
- Make sure you have a COTI VIPER wallet with the amount of Native $COTI you plan on depositing. Here’s how to open one if you don’t have one yet.
- If you need to convert ERC20 $COTI to Native $COTI, you can do it here: https://bridge.coti.io/
- If you currently stake $COTI using the Staking 3.0 program, decide if you wish to fully unstake and go all-in to the Treasury, or gradually unstake post the launch of the treasury.
COTI will soon provide in-depth guides and videos explaining the features of the Treasury, and all the ways it can be used.
Via this site