COTI Unveils Comprehensive Growth Strategy
On September 2, developers behind COTI introduced an ambitious growth plan aimed at integrating existing services and future developments into a unified framework. This strategy seeks to transition COTI from a payment-focused platform to a comprehensive next-generation financial system. Key components of this plan involve establishing a decentralized COTI treasury for fee collection and user rewards, creating a stablecoin factory that allows clients worldwide to issue their own stablecoins on the COTI Trustchain, and offering enterprise and merchant services under the COTI Pay Business brand. This will facilitate seamless cryptocurrency and fiat currency processing alongside wallet services, as well as treasury services that include borrowing and lending options for COTI and vault services. The initiative also emphasizes building an ecosystem through partnerships, such as with ADA Pay. The COTI team stated, “Our upcoming Treasury model merges the best aspects of decentralized finance (DeFi) with COTI’s staking 3.0 program. The Treasury will expand as our core services develop, introducing new offerings that will enhance the demand for $COTI while optimizing $COTI fees directed to the Treasury.”
COTI Network Upgrade and Future Enhancements
Following the launch of new listings, COTI implemented a significant upgrade to its network, Mainnet 2.0, on November 2, which introduced enhanced features and improved scalability. Developers are also in the process of designing Mainnet 3.0, anticipated to roll out approximately one year from the current date. On November 15, COTI formed a partnership with Centaurify, a platform for NFTs and smart contracts, aimed at “tokenizing” event tickets and digital collectibles. This collaboration will integrate ADA Pay, enabling users to transact using their ADA tokens.
Strategic Collaborations and Developments
On November 24, COTI announced a partnership with SundaeSwap Labs, a decentralized finance developer, to investigate the implementation of the Djed stablecoin—the first stablecoin on the Cardano blockchain—through the SundaeSwap decentralized exchange (DEX). A tweet on November 25 revealed the addition of a new community node, named The Prime Node, set to launch on December 1, which would raise the total staking volume to 160 million, marking it as the 15th COTI Community node and the 22nd overall.
On December 15, COTI disclosed a partnership with ADA Handle, an NFT-based naming solution for Cardano wallet addresses, exploring the integration of Handle address resolution within the ADA Pay platform. Shortly after, on December 17, it was announced that COTI, alongside four other cryptocurrencies, would be listed on India’s leading exchange, CoinSwitch Kuber. December 21 saw a partnership with AdaSwap, which aims to establish the first decentralized exchange on the Cardano network. The following day, COTI confirmed that its native coins could be converted into Euros via users’ COTI bank accounts.
Engagement with Decentralized Finance and Partnerships
On December 28, COTI revealed a collaboration with ErgoDEX, a decentralized exchange designed to facilitate liquidity transfers between the Ergo and Cardano networks. Moving into January 2022, COTI announced that it had entered the “implementation phase” for its proposed stablecoin, Djed, laying the groundwork to keep it competitive among algorithmic stablecoins. Concurrently, the organization has been securing partnerships to promote the stablecoin’s launch, with its first collaboration being with DOEX, a DEX for native assets on the Cardano blockchain. DOEX aims to enable a seamless, non-custodial exchange of assets across different blockchains using smart contracts, automated market making, and cross-chain bridges.
On January 18, COTI formed a second partnership with MeowSwap, a Layer 2 decentralized exchange built on Cardano. Both entities expressed enthusiasm about providing significant DeFi advantages to both current Cardano users and newcomers seeking scalable and accessible decentralized finance solutions.
Launch of COTI Treasury and Financial Developments
On February 4, the COTI Treasury, an algorithmic and decentralized pool designed to reward users who deposit their coins, officially launched. The rewards will stem from a share of the Treasury, which is set to grow as it collects fees from the COTI ecosystem. By February 22, the Treasury’s balance had approached $60 million (equivalent to 286 million COTI), reinforcing COTI’s objective of evolving into a next-generation financial ecosystem.
Additionally, on February 15, COTI announced a partnership with NFT-DAO to integrate ADA Pay into the Akkadia marketplace, allowing users to make payments using their ADA tokens. A further collaboration with World Mobile on February 17 is expected to facilitate transactions settled in both the Cardano public blockchain and the World Mobile Chain (WMC), functioning as a side chain to Cardano. On February 21, a new partnership with Aada Finance, a crypto assets lending platform on the Cardano blockchain, was announced, which will allow users to deposit assets, earn interest, or borrow assets for various financial actions. COTI emphasized that this integration is part of its strategy to forge alliances with other projects on the Cardano network.
COTI Ventures Initiative and Market Performance
On March 22, COTI revealed the establishment of an investment fund named COTI Ventures, with an initial budget of $10 million sourced from COTI and its founders. This fund aims to invest in equity, tokens, and other forms of capital in early-stage startups that are developing solutions related to COTI’s ecosystem.
COTI launched in June 2019 at a price of $0.087 against the US dollar. Following a drop below $0.01 in November 2019, the coin began to recover in 2020, reaching $0.093 by September. In 2021, COTI experienced a significant surge, reaching an all-time high of $0.573 on March 23, before aligning with market corrections that saw it dip to $0.089 by July 20. A resurgence occurred on August 25, with prices hitting an intraday high of $0.485 ahead of upcoming exchange listings. As of January 20, the coin was trading at $0.368.
Future Price Predictions for COTI
Forecasting service Wallet Investor projected that COTI could trade around $0.38 by May 2023, with potential growth to $1.1 in five years. Conversely, DigitalCoin’s predictions were less optimistic for the long term, estimating an average price of $0.24 in 2022 and $0.49 by 2027, with a forecast of $0.86 by 2030. Gov Capital’s estimates suggested that the coin could reach $0.83 within a year and could climb to $5.1 in five years. Price Prediction’s outlook indicated that COTI might average $0.89 in 2025, up from $0.28 in 2022, and projected a rise to $2.74 by 2028 and $5.91 by 2030.
It is crucial to note that cryptocurrency markets are highly volatile, making accurate price predictions challenging. Therefore, analysts and forecasting platforms may not always provide reliable projections for COTI or any other cryptocurrency. Investors are advised to conduct their own research and consider current market trends, news, technical analysis, and expert insights before making investment decisions. Additionally, individuals should only invest what they can afford to lose.
