Here is a 7-day recap by COTI.
It has been almost one week since the launch of the COTI Treasury. We accomplished a major milestone for COTI and feel fortunate to have such an amazing community there with us. Therefore, we are excited to share some updates with you:
- Less than 24 hours into the launch, we saw close to 120,000,000 $COTI deposited into the Treasury, with a max APY of about 200%!
- Almost one week in, there is over 255,000,000 $COTI deposited.
- More than 79,000,000 $COTI are still locked in Staking 3.0, which brings the TVL to 334,000,000 $COTI!
- The current max APY is approximately 97%.
- The Treasury APY is inclusive of all fees from the COTI ecosystem, including the Treasury deposit and withdrawal fee of 0.5% that is charged to depositors and distributed to the pool. As we continue to see more users, the Treasury will continue to collect deposit fees and distribute these to the pool as rewards.
- The majority of Treasury users locked their deposit for 120 days, which shows that many users are here for the long run.
We provided many tutorials and guides that will ensure Treasury users are able to familiarize themselves with the platform while taking full advantage of current APY’s. To that effect, we released lots of introductory Treasury related tutorials — a quick summary of them below:
- Read this guide if you would like to participate in the Treasury but have no idea where to start.
- A tutorial on making a Treasury deposit is here.
- A tutorial on managing Treasury deposits here.
- A tutorial on withdrawing and claiming rewards here.
- A Step by step on how to do anything within the Treasury here.
A few hours into our launch, we experienced some minor technical issues caused by an overwhelming number of users that tried to make deposits at the same time. Our technical team solved the issues that occurred during the launch, and everything is operating successfully.
We will continue to engage the community and take their feedback into consideration as we roll out more platform functionalities.
We already started working on a backlog of new releases and upgrades that include Push Notifications, Custom Deposit Reports, Native App Support, HF Calculators, and much more. A quick summary of these upgrades was discussed in our recent AMA with our Product Manager, Alex Panasenko — you can access a transcript of the event here.
We could not be more pleased with the support and feedback we have received from our community and from the Treasury users, pre and post-launch — we will continue to release platform upgrades and functionality to improve the user experience.