COTI Friday Update
Here is the Friday update with the latest happenings in COTI as I do believe this is a gem to keep an eye on. I started investing into COTI over a year ago and have been doing my research and why doing the updates may help others as knowledge and being aware is how we all benefit. If many of us did this on @leofinance it would make things a hell of a lot easier. Always do your own research before investing as don't take my word as Gospel .
This week has been a quiet week for COTI standards as the price has dropped by around 13% since last week $0.2887 and now sits at $0.2496. The treasury increased it's stake by roughly 1% but the overall APR did drop and is now at 11.8% down from 12.12% for the no risk level 1. The higher risks are still viable offering a maximum return of 47.2 APR.COTI would have to lose 50% of it's value for you to be liquidated so if the price drops even more this could be worth a gamble.
One thing I have realised with the treasury is that level 1 may actually be the safest investment, but not the wisest. The 0.5% fees for depositing and withdrawal may not sound significant but they are. The 0.5% fee in and out actually costs you 4 weeks worth of staking rewards or 25% on a 120 day staking period. Over 1 year you actually lose 3 months worth of rewards and why now I am rethinking the strategy leveling up to the next risk level for the next round of deposits next week. This is how we all learn by trial and error playing safe first and if this helps anyone then that is why we post on Leofinance to do just that.
The CARDANO stable coin DJED which COTI is launching is on hold as a bug was found in between scalability and security so there are no compromises and will be released as soon as the COTI team are happy. Multi Dag2.0 will be released within the next two weeks and this is important for creating other tokens on COTI like other stable coins and the Enterprise Tokens.
source Thee were some more partnerships announced this week for DJED which is going to make this a massive launch when testnet is completed. Revuto was added along with Revelar this week partnering with COTI via DJED making the total to around 18 different partnerships now. 18 partnerships and counting that will all be generating revenue for the COTI treasury and why don't look at the current APR as that will start to trend the other way very soon.
How big can COTI be in the future who knows as they are aiming to be the Coin offering a service plan for crypto. I do believe the big winners will be the projects that provide certain services to other projects as they are involved in many pies having multiple uses. Coin Telegraph did a post this week about COTI as they are seeing the potential of what could happen. Here is the post if you missed it Indicators flash bullish on COTI ahead of its mainnet and Djed stablecoin launch
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