COTI Price

What Is COTI (COTI)?

COTI (COTI) is a DAG-based Layer 1 token and platform optimized to provide enterprises with a framework to build their own payment solutions such as branded stablecoins to enable quick and reliable digitization of any currency.

COTI’s robust payment system aims to solve the challenge of instability and complexity that has led to a lack of scalability in the use of cryptocurrencies by the masses.

At the core of COTI’s design is Trustchain, which is a proprietary consensus algorithm built on a multi-DAG data structure to facilitate scalability through processing over 100,000 transactions per second.

Some of COTI’s products include COTI Pay which can process all transaction types, whether offline or online. COTI is also behind Djed, which is the first multi-algorithmic stablecoin issued on Cardano and will be a key player in Cardano’s DeFi operations.

COTI is a multi-chain token native to the COTI network. It operates on Trustchain, Ethereum and BNB Chain, and facilitates transactions across COTI’s ecosystem.

COTI Price 

COTI entered the market in June 2019 at $0.096 and gradually dropped to its lowest price to date of $0.0055 on Nov 7, 2019. The following year was quite slow for COTI; its highest price was $0.08 at the end of August and it fell to around $0.04 where it remained for the rest of that year.

However, 2021 was an impressive year for COTI as its price skyrocketed by 614% in two months from $0.07 on Jan 23 to a high of $0.50 on Mar 23, 2021. In the following weeks, COTI’s price began to correct gradually and eventually hit a low of $0.095 on Jul 21. Despite this, things turned around for COTI when it spiked to hit $0.40 on Aug 28 after it was listed on two tier 1 crypto exchanges. After a slight correction, COTI continued with the bullish momentum due to a series of major milestones by the project.

In September and November, COTI hit a double top on its price charts. On Sep 2, 2021, COTI released an ambitious growth plan that included a decentralized treasury, a stablecoin factory and COTI Pay for enterprises among other things. During this period, the price rallied by almost 100% to hit its highest price of $0.67 on Sep 29, 2021.

The price then relaxed for several weeks before rallying again in November following the release of the mainnet on Nov 2 when it retested its previous all-time high.

In 2022, COTI’s price wasn’t spared from the market slump and closed at $0.05 by the end of the year. In late January 2023, COTI saw a slight rally to reach $0.12 on Jan 27, a few days before the official launch of the much-anticipated Djed stablecoin on Cardano on Jan 31.

What Is COTI Used For?

COTI is the utility token for the COTI network. It’s used as a medium of exchange for payments on the ecosystem and also network fees. It is also used as a reward for node operators who stake COTI to become validators on the network.

You can also participate in the network's staking program where you can lock your tokens in the COTI Treasury where they will generate more COTI as staking rewards.

COTI Tokenomics

COTI has a total token supply of 2 billion. The tokens were initially allocated as follows:

• 30% — Public and private sale

• 22% — Reserve

• 15% — Team

• 10% — Partners and advisors

• 13% — Validators

• 10% — Liquidity

COTI underwent a token metrics revision in February 2020 and implemented the locking of 400 million ERC-20 COTI tokens for 12 years, with a 3-year cliff, in order to lower the total supply. 

Who Is the Founder of COTI? 

COTI was co-founded by Samuel Falkon and David Assaraf. Samuel Falkon left COTI in September 2021. 

Read more: Coti Crypto: Instant Payment Around The World

How to Store COTI

You are recommended to store your native COTI tokens in the COTI Pay wallet. To store COTI in hardware wallets like Ledger and Trezor, you will first need to swap your native COTI tokens for ERC-20 COTI via the ​​COTI Cross Chain Bridge. The ERC-20 COTI tokens can also be stored in ERC-20 compatible wallets such as MyEtherWallet (MEW) and Atomic Wallet. Meanwhile, you can store BEP-20 and BEP-2 COTI tokens in Trust Wallet.

Where To Buy COTI

You can buy COTI from any top crypto exchange, including Bybit. On Bybit, you can trade COTI as a USDT Perpetual (COTIUSDT) in the Derivatives market.