Topic: 📌[ANN] COTI - CURRENCY OF THE INTERNET. Digital currency built for payments ✔ - page 9. (Read 26331 times)

We would like to share with our community that January’s staking rewards have been successfully distributed and were higher than expected for COTI’s stakers!
COTI will soon be added to a platform that reviews and updates about rewards, exposing COTI to a wider audience, and allowing our community easy access to information.
After launching the first Decentralized MainNet Node operated by a community member (Rufys’ Node) at the end of December, January was marked by the release of the first Community Delegated Node to run on MainNet, operated by Winston Wolf (Wolf Node).
The community node is operated by a community leader (Winston Wolfe) and staked by both the leader (100K COTI) and the community members (5K/10K COTI). Community nodes run with 500K COTI staked, to begin with, and with a guaranteed return of at least 30% per annum, paid monthly (the highest of either fees generated by the node or 30% per year).



We are happy to see that it was a lucrative month for COTI’s stakers and node operators, as they reached around 50% annual run rate collected from fees!
Nodes stakers have received their staking rewards on February 1st.
Stakers in the Community Node received approximately 200–400 COTI each, depending on the amount staked, and our Advanced Full Node staker received approximately 10,500 COTI.
The first staking month paid off and we expect it to grow even more as the network grows.
We have created a solid foundation for our transactions as they stand for payments, a real use case. If you’re not a staker yet and you want to join in, you can still register to the waiting list of one of the following community nodes:

• Wolf Node
• CryptoDaku Node
• TehMoonwalkeR Node

*We remind you that as we want to give a fair chance to everyone to participate, at the moment we allow each user to stake in only one community node until further notice.

For more details on the stakes and guaranties please refer to Nodes and staking article and the Annually Staking Rewards document, which demonstrates all possible staking scenarios.

We are very proud to announce that we have completed and launched the build of our MultiDAG!


The MultiDAG code has already been pushed to our MainNet nodes, the code can be viewed on GitHub and we have also launched the first MultiDAG token (TestToken) on it for internal testing. TestToken is a token that is representative of how our clients can issue their own tokens on our MultiDAG and fully demonstrates the extended capabilities we now have as a result of this technology.
The MultiDAG is a tremendous achievement, being the first-ever DAG structure that allows token issuance on top of our DAG based Trustchain protocol. This achievement was made possible by combining independent DAG clusters into the overall COTI network. The COTI MultiDAG ecosystem is similar to Ethereum, in the sense that both are common decentralized infrastructure acting as the basis for a multitude of different tokens and smart contracts while utilising one main coin for all fees and staking within their respective ecosystems.
However, unlike Ethereum, the MultiDAG is a series of permissioned instances that allows the token issuer and owner of the individual MultiDAG instance to set their own rules specific to their needs and/or use case. Token issuers on Ethereum are limited by the overall rules and performance of the Ethereum network as a whole, while on the COTI MultiDAG token issuers retain control of their own rules and instances are not limited by the overall performance of the network, allowing for almost limitless instances and tokens to exist without any network degradation. MultiDAG instances still retain the ability to access all the overall COTI network features such as high scalability, low transaction costs, privacy and dispute resolution and whenever a transaction happens on any of the MultiDAG instances, fees are automatically converted between the issued token to COTI’s native coin, increasing the overall demand for the COTI coin and overall network utility.
MultiDAG transactions can also be “multi-currency”, meaning a transaction bundle can contain base transactions nominated in different tokens. Since our DAG as a data structure is agnostic to the transaction payload, this means the flow of attaching transactions to the DAG and TrustChain consensus stays the same for MultiDAG.
The COTI MultiDAG is yet another competitive advantage that allows the COTI network to focus on our primary target of adoption, enterprise clients. Enterprises by their very nature demand a controlled environment that delivers certainty of network availability combined with sufficient flexibility and scalability. This creates the confidence that enterprises need to have a long-term corporate approach using COTI. With the COTI MultiDAG, enterprises can now build upon a network they can truly trust. Remember, one enterprise = many users!



The process of issuing a new token:
1. The token Originator ( = Token Owner) will be able to use a special “COTI token-app” application to create a new token.
2. The token Originator fills the token data and signs it.
3. The “COTI token-app” calculates the fee for issuing a new token, and sends a transfer transaction for this amount in COTI native coin to the network fee address. This is a special transfer transaction having IBT and NFBT only.
4. After the fee transaction is created and confirmed, “COTI token-app” forms the token creating request — FinancialServer/createToken API call. The request includes the new token parameters and the hash of the fee transaction.
5. Upon receiving the createToken request, the Financial Server checks data and signature, creates CurrencyData record for the new token and propagates it.
6. The Financial server requests the primary (ZeroSpend Server) to create and propagate the new token creation Clusterstamp file.
7. FinancialServer/createToken API call returns the new currency hash.
8. After full nodes get the propagated data, the originator can start to mint and transfer tokens.



The code behind the MultiDAG can now be viewed on our GitHub.
In about two weeks, we will share a workable demonstration of token issuance, and we will also show how you can transact with tokens using API commands.
In the following weeks, we will also add a token generation interface, which will be for widespread issuance of tokens. Until then, partners who wish to issue their own token on top of our MultiDAG can send us an email to [email protected].
Read more about COTI’s MultiDAG here, or review COTI’s whitepaper here.

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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In order to scale full node operations, COTI requires a good testing ground for its nodes on its TestNet. The benefit for COTI in such testing is immense and in order to compensate TestNet node operators for their time and effort and for their contribution to our research and development, COTI will allow such node operators to stake 100K MainNet COTI coins for a 10% per annum return.
We thank you for participating in our plan to change the digital payment industry!

Requirements and Incentives:
To be eligible for 10% annum return, TestNet Node operators are required to:

• Fork the coti-node repository — this is required only if you plan to change the code or participate in our bug bounty program.
• Set the user hash and domain name in the node property to verify and monitor node operator activity
• Insure 95% uptime of the server for the preceding month
• Connect with COTI TestNet wallet to your Full node and make at least 20 transactions per month
• Be attentive to any version changes and upgrades required for the node
• Be available for deployment of new patches and fixes as soon as such are available

Following some of our community members’ requests, we have decided to allow running a TestNet node from restricted countries as well. Those located in one of COTI’s restricted countries will be able to run a TestNet node and thus be a part of the COTI ecosystem and test the technology. However, such participants will not be able to stake and earn rewards.

Extra incentives:

• Report bugs and deploy issues in the GitHub

• Offer improvements and changes in the code base through GitHub

• Build unsupported test units for the code base (coti-node/crypto-library/coti-wallet) through GitHub

• Guides and code review for the code base (coti-node/crypto-library/coti-wallet)

Program Rules

• For all extra incentive please provide detailed reports with reproducible steps. If the report is not detailed enough to reproduce the issue, the issue will not be eligible for a reward.
• Submit one vulnerability per report, unless you need to chain vulnerabilities to provide impact.
• When duplicates occur, we only award the first report that was received (provided that it can be fully reproduced).
• Multiple vulnerabilities caused by one underlying issue will be awarded only once.
• Make a good faith effort to avoid privacy violations, destruction of data, and interruption or degradation of our service. Only interact with accounts you own or with the explicit permission of the account holder.
• COTI may change the incentive plan every now and then, please remain up to date with this document

Important notice!
If you are already running a TestNet node and wish to participate in a Community node staking pool as well, please open a new CPS account for the Community node staking. Staking for TestNet and for a Community node from the same account is not possible.

Once again, thank you for participating!
To learn more about how to run a Full node on COTI’s TestNet network, please refer to the guide below:
How to Setup a COTI Testnet node on Vultr

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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Introduction
COTI’s staking model is built to be competitive to DeFi income models and provides a means to generate a steady income from the process of transaction approval in the COTI network.
The economic model of COTI nodes is designed to be fair, efficient and flexible and is based on finely tuned fee distribution mechanisms and staking requirements.
COTI’s staking model allows users to run Full Nodes, which are decentralized servers processing wallet requests, receiving transactions, and performing the required Proof of Trust work (PoT).
When running nodes, operators provide the network with useful resources, including CPU, memory, storage and network bandwidth. These resources are not free of charge, which is why the node operator is compensated and has the opportunity to earn a reasonable ROI.
Full Node operators receive fees collected from transactions. The more transactions a Full Node processes, the more it earns.

Staking Plans



*- all return guarantees should be treated by valid for the current month only and can be extended or ceased without prior notice.

In order to better understand our staking reward model, make sure to read the Annually Staking Rewards document, which demonstrating all possible staking scenarios.

How does it work?


How to stake?

1. Placing the staking deposit with COTI

a. Connect to your MainNet wallet at https://crypto-wallet.coti.io/connect with your credentials.



b. Under the staking section, Click on the “Stake” button.



Important: if you don’t have the “stake” option in your wallet, this means that you weren’t approved as a staker for COTI. If you would like to join the COTI network as a staker for a community node, please approach the community operator as they are the one who choose and approve community stakers. Potential candidates can register in the community node dedicated Google form, published by the community operator.

c. A popup with your staking amount and a unique staking address will appear. Press “confirm” to approve the staking and the amount will be automatically transferred to this address.



2. Confirmation of staking

Your staking deposit is placed with COTI and is associated to you according to the unique staking address generated specifically for you. Once completed, you’ll be able to see, in your MainNet wallet, the staked coins under as “staking section”.



3. Receiving Rewards

Rewards are processed once a month.
COTI guarantees a minimum level of income for advanced and community MainNet stakers per annum, on a monthly basis. If the income received from the processed transactions does not meet the ensured return, COTI covers the deficit.
In order to receive your rewards, you must claim your coins by clicking the “claim” button. This option will be available to you in the last week of each month.



The specific period you can claim your rewards in will appear in the staking section in your wallet.



Please note that if you don’t claim your rewards within the claim window (the last week of the month) your rewards will be reset and you won’t be able to claim them for that month. If you are a part of a community node, the remaining rewards will be split between those who have claimed their rewards.

Conditions to receiving your stake rewards:

• Your node’s uptime should be at least 95%. In the case your node doesn’t meet the minimum uptime, you will only be eligible for fees collected during your uptime but not for the guaranteed node return.
• A registered MainNet wallet.
• You have completed the KYC process
• You must stake your coins for the entire payment cycle to be eligible for rewards.
• You must not be from a restricted country.
• If you are a TestNet node operator, you are required to comply with the TestNet operators’ rules which will be published soon.
  

4. Unstaking

You may unstake your coins at any given moment. Note that the coins will be actually unstaked by the end of each payment cycle, as appears in your wallet.
Note that as a MainNet node operator, of any kind, unstaking makes you ineligible to run a node.
In order to unstake you should:

1.Login to COTI MainNet wallet
2.Click “Unstake”




3. You will see a message stating that you will be unstaked in the next payment cycle

• For the annually staking rewards document, visit here
• For more details on the stakes and guaranties please refer to Nodes and staking article

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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COTI’s Full Nodes

Full Nodes are the main client-facing servers of the system. Each transaction sent from a wallet is received by a Full Node and propagated to the entire system. Full Nodes perform Trustchain Consensus by receiving new transactions from wallets, validating them, doing Proof of Trust and attaching them to the DAG. Full Nodes also execute COTI smart contracts in a decentralized manner. On the COTI network, Full Nodes can define their own price list for users and compete for them. The range of the fees defines in the network is between 0.01% to 25 COTI coins max, per transaction. Consequently, COTI Full Nodes are responsible for collecting fees on all protocol usage and transferring the network fee to the network pool.

As a rule, Full Node fees are collected in the same token as the main payment. Full Nodes are free to define which tokens they process and accept for fees and which they do not.
In the article below, we demonstrated several situations for a Full node operator or staker in the COTI ecosystem.

TestNet Node



Jon is running a node on COTI’s TestNet and he’s staking 100,000 COTI.
Jon will earn 833.333 COTI coins per month, only from the guaranteed rewards, as no real fees are being collected in TestNet. After one year he will earn a total of 10,000 COTI.

Unstaking can be done on each calendar month. If Jon will decide to unstake his coins in the middle of the year, he will earn a relative amount for the staking period. For example, if Jon started to stake on January 1st, 2020, then decided to unstake on April 23rd, 2020, he will earn a total of 3,333.333 COTI (4 full months) and he will receive his staking amount of 100K COTI on May 1st, 2020.

MainNet Basic Node



Samantha and Rob are running advanced nodes on COTI’s MainNet. Each one of them has staked 250,000 COTI from January 1st, 2020.

Samantha has set a fee of 0.1% and the transaction volume she processed in January was worth 2,000,000 COTI. Rob has decreased the fee to 0.05% and the transaction volume he processed in January was worth 15,000,000 COTI. Therefore, in January 2020, Samantha earned 2,000 COTI, while Rob earned 7,500 COTI.

Since the income received from the fees does not provide the guaranteed reward of 62,500 annually (5,208 per month), COTI will cover the difference and will pay Samantha another 3,208 COTI in January.

Community Node Operator



Winston Wolfe is running a community node on COTI’s MainNet. He has staked 100,000 COTI out of a total staking of 500,000 COTI, from January 1st, 2020.

Winston Wolfe has set a fee of 0.1% and the transaction volume he processed in January was worth 2,000,000 COTI. The total fees are being divided between the community node operator, and the community members, according to their staking amounts. Therefore, in January 2020, Winston Wolfe earned 400 COTI. Since the income received from the fees does not provide the guaranteed reward of 30,000 COTI annually (2,500 monthly), COTI will cover the difference and will pay Winston Wolfe another 2,100 COTI.

On February 1st, 2020 Winston Wolfe has set the same fee to 0.1% and the transaction volume he processed in February was worth 40,000,000 COTI. Therefore, in February 2020, Winston Wolfe earned 8,000 COTI. Since the income received from the fees was higher than the guaranteed reward of 30,000 COTI annually (2,500 monthly), Winston Wolfe will earn the amount collected from the fees.

Community Node Member



Jane and Mary are Winston Wolfe’s community members and they’ve been chosen to participate in his community node staking. Jane has staked 10,000 COTI, out of a total staking of 500,000 COTI, while Mary has staked 5,000 COTI.

On January 1st, 2020 Winston Wolfe has set a fee of 0.1% and the transaction volume he processed in January was worth 2,000,000 COTI. The total fees are being divided between the community node operator, and the community members, according to their staking amounts. Therefore, in January 2020, Jane earned 40 COTI, while Mary earned 20 COTI. Since the income received from the fees does not provide the guaranteed reward of 3,000 COTI annually (250 monthly), COTI will cover the difference and will pay Jane another 210 COTI. Same with Mary, since the income received from the fees does not provide the guaranteed reward of 1,500 COTI annually (125 monthly), COTI will cover the difference and will pay Jane another 105 COTI.

On February 1st, 2020 Winston Wolfe has set the same fee to 0.1% and the transaction volume he processed in February was worth 40,000,000 COTI. Therefore, in January 2020, Jane earned 800 COTI, and Mary earned 400 COTI. Since the income received from the fees was higher than the guaranteed reward of 3,000 or 1,500 COTI annually (250 or 125 monthly), Jane and Mary will earn the amount collected from the fees.

For the full Staking guide at COTI v1.00, visit here
For more details on the stakes and guaranties please refer Nodes and staking

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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COTI offers a white-label payment infrastructure to be used by consumers and merchants. This white-label payment infrastructure includes the COTI’s Crypto Gateway solution for merchants to easily accept crypto in their online stores. After this was already built for other networks (Cardano and BTC), we are continuing our momentum and developing a solution for projects based on Binance Chain technology.

This solution includes a ‘pay with BEP2’ button that is integrated via an easy-to-install widget into the merchant’s website checkout page and allows consumers to easily pay with their BEP2 tokens. Merchants are able to track and manage their crypto payments via COTI Pay Business CRM.
https://youtu.be/xUPQ6AllAOw



The Binance Chain for payments, powered by COTI, will enable projects issued on Binance Chain technology, to add a payment utility to their BEP2 token. To use our gateway solution, send an email to [email protected]

All transactions made on the BEP2Pay are mirrored on COTI’s trustchain for transparency and to serve as basis for access to loans and other financial products, adding more utility to the COTI coin.


COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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Celsius Network will be integrated into the COTI network, enabling consumers and merchants to easily earn interest and access loans directly on the COTI platform!

We are happy to announce our partnership with Celsius Network, a leading lending platform with over $4.25b in loan origination and $400m worth of managed assets. Thanks to this new partnership, both our COTI Pay and COTI Pay Business applications will enable both consumers and merchants to easily earn interest on stable coins and cryptocurrencies, while also gaining easy access to loans, all powered and secured by Celsius Network.




On our Universal Payment System, payments processed on the Trustchain are instantly settled using stable coins, with each payment creating a securely stored transaction history. Consumers and merchants on COTI also have a unique Trustcsore that when combined with a transaction history, effectively creates a virtual credit score. By adding this credit scoring as additional data point to the Trustscore and our Global Trust System (GTS) we’re able to add an additional layer of trust to participants in the DeFi ecosystem who require it.

Access to loans for most merchants is limited to the bigger payment networks, such as PayPal. COTI now offers a superior product that distinguishes itself by offering something no other payment networks offer: a new revenue stream from stored balances for both consumers and merchants alike.

This is yet another reason for merchants to choose COTI Pay Business instead of PayPal or BitPay.

Shahaf Bar-Geffen, COTI CEO said:
Daniel S. Leon, Celsius founding president & COO commented:

The development will commence in Q1 2020 and will be ready for the launch of COTI Pay and the upgraded COTI Pay business app this year, so stay tuned for further development updates.

More About Celsius Network: Celsius Network addresses the financial needs of today’s consumers worldwide through a blockchain-based interest income and lending platform accessible via a mobile app. Built on the belief that financial services should only do what is in the best interests of the depositor community, Celsius is a modern platform where membership provides access to curated financial services that are not available through traditional financial institutions. Crypto holders can earn interest by transferring their coins to their Celsius Wallet and borrow USD against their crypto collateral at interest rates as low as 3.46% APR. For additional information please visit www.celsius.network.


COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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Summary:

• COTI’s team further commits by extending team lockups until June 2023
• Changes apply immediately
• More token metrics changes to follow

As previously announced, we are currently in the process of revising our token metrics. While the full set of changes are not yet fully complete, we’d like to announce that we will be immediately extending the COTI team’s token lockup while we complete the final revisions to the overall token metrics, which should be announced soon.
Since the inception of COTI in early 2017, we have been hard at work, ticking off amazing achievements like our MainNet, Decentralized nodes, MultiDAG and Universal Payment System. Our team, built from developers, researchers, economists, mathematicians, marketing and business developers have been the people behind all of these achievements.
To align the team’s interests with those of the ecosystem, a major part of the team’s compensation was in COTI coins. To further show the team’s commitment to the COTI project, the core team have decided to extend the lockup period of their coins until June 4th, 2023, setting the overall lockup to 4 years.
We believe that actions speak louder than words and have gladly extended this lockup of team coins. The revised team lockups appear in the link below. In the meantime, we’ll continue to ship and build.
Team distribution comparison (Public)



COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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On the first day of 2020, we are excited to be ticking off our first achievement of the year and launch the first decentralized community MainNet node.
The community node will be operated by a community leader and staked both by the leader and by the community members. Community nodes will run with 500K COTI staked, to begin with, and with a guaranteed return of at least 30% per annum, paid monthly (the highest of either fees generated by the node or 30% per year).
We are very honored that the first community node is being managed by the one-and-only Mr. Winston Wolfe, who was the first to run a node on the COTI TestNet. Winston Wolfe is at the head of a very engaged and committed community on the Wolf Crypto group and channel on Telegram. He also wrote a detailed guide explaining how to setup a COTI TestNet Node on Vultr.

“We’re extremely proud to be picked at the first crypto community to run a decentralized MainNet node for COTI”, said Winston Wolfe. “As a supporter of this project for some time, we’re thrilled the project has now reached the point in which token holders can now benefit from running nodes by sharing in transaction fees that pass through their nodes, and we’re even more thrilled that we can share these rewards with our loyal community”.

Registration to the community node was overwhelming and of very high demand. We have opened the registration to participate in the community delegated staking plan last week and have exceeded the cap by more than 300%. The admission process was handled on a first-come-first-served basis and the selected candidates have already been reached out by the team.
we’ll be running an additional community node in early 2020 with another large crypto community who have supported COTI, so those who missed out this time around, don’t despair as you’ll be the first we approach with the next community node.
We thank all of the applicants and we’ll be able to serve all not long from now.
The node is already active and both merchants and users can connect to it here, under the name Wolf Node.
Read more about COTI nodes and staking here.
Stay COTI!

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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As the year 2019 is over, we are ticking a very important box in our journey, by launching the first decentralized MainNet node. This will be the third MainNet node to run the Trustchain, with the next one to follow next week, as a Community Node.


The node is already active and both merchants and users can connect to it here, under the name Rufys Node.
The node is being managed by our long time community member and Brazil Ambassador, Mr. Rafael Weil, as a sign of appreciation from the COTI’s family. The node’s staking plan is of Advanced Node, where 250K COTI are staked for the higher of either fees collected or at least 25% a year return.

“I am honored to have been chosen by the team to run the first decentralized Node on the MainNet”, said Rafael. “I have been a part of the COTI community since the beginning and I am very excited to see its progress. I‘m also very excited about the Delegated Staking Model and Community Nodes which are a great incentive that will empower all community members and investors. I am very happy to see that COTI’s dedicated team has achieved each and every goal it has set and is on the path of becoming The Currency Of The Internet”.


Rafael Weil, COTI’s first decentralized node operator

COTI technology team leader Eli Hallufgil commented:
“Decentralized full nodes are an integral part of our payment technology. Today COTI is marking a very exciting achievement by launching the first decentralized MainNet node. Rafael has been running a node on the COTI TestNet for a while now, and I’m happy to accompany him on this new path and to enable him to earn profits from running the node”.


Eli Hallufgil, COTI technology team leader

The current Full Node’s version is 1.02, expected upgrades, like MultiDAG and History nodes, are to launch next month.
MainNet nodes are the basic nodes of the COTI network. In the current development stage, Full Nodes are the only available nodes that can be run by network users. DSP Nodes and Trust Score Nodes (Watch the transaction confirmation process in COTI’s protocol here) will also be operated by users as the network matures, with significantly higher staking requirements.
All node operators can make a profit from running nodes. Potential earnings can be estimated using our earnings Calculator.
In order to run a MainNet node, one must qualify as a TestNet node operator. In order to do so, you can follow the guide.
Next week, we are to launch the first community node. Application to be a staking community member for at least 30% a year will be open soon and announced in our channels.
Read more about COTI nodes and staking here.

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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This article was published by Michael Chen, Fantom CMO, on December 23rd, 2019. To see the original article, click here.




Fantom is elated to share that we’ll be strengthening our collaboration with COTI. We previously already shared that we’re working with the team at COTI to share research and technical knowledge, and we’ve also hosted them for AMA’s in our Telegram group, but today we want to make that partnership more tangible for both communities.
We’ve had the pleasure of striking a deal between Fantom, Xar network, and COTI, to collaborate on creating a payment solution for Fantom-based networks, and to make collateral stable debt tokens (CSDT) usable in daily life.

What are Fantom, Xar, and COTI actually going to do to make CSDT usable?

COTI will work on integrating Fantom-based mainnets such as Xar Network into their existing payment rails on the back-end, allowing us to build FantomPay and XarPay on top of a reliable infrastructure that supports merchant onboarding, fiat off-ramps, and consumer applications.
By utilizing COTI’s infrastructure, merchants will be able to accept CSDT or fiat-backed stablecoins issued on top of Xar, while still receiving fiat currency into their bank accounts at with a wide global coverage and 35 currencies.
All transactions data will be also put to COTI’s Trustchain, opening up further usage and financial services, and adding more utility to COTI’s native coin.
To showcase the reliability and speed of COTI’s payment infrastructure, COTI will also be integrating ERC20 FTM into the payment rail initially for community members, merchants, and parties interested in the solution to get hands on with the solution in the first quarter of 2020.
In other news, our partners at COTI recently also launched AdaPay in collaboration with the Cardano Foundation, allowing merchants to accept ADA in their stores as well. COTI has followed this release with Bitcoin based payment rails, as part of COTI’s strategy to be a universal payment solution, working both on fiat and cryptocurrency payment processing in an interoperable and seamless manner.
Fantom website: https://www.fantom.foundation

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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Fantom Telegram Discussion Group (English): https://t.me/fantom_english

COTI has three protocols for the token: Mainnet COTI coin that trades on Kucoin, ERC20 and BEP2.
We're supporting other layer-1 chains to enhance interoperability and bring all the benefits of the COTI tech to users of these platforms.
As per roadmap prepaid card is planned for May 2020.

Kind regards,
Vlad Ovadenko
COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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So have you done swap from tokens to native coins already? Are this native coins on Kucoin?
Do you mean that you have own crypto cards? Do you have Visa or Mastercard agreement for this?

MainNet Decentralized Nodes Launch Next Week, Introducing Delegated Staking Model and Community Nodes, Incentivizing TestNet Node Operators



COTI community,

MainNet nodes will be delivered next week. We have also been attentive to the requests of our community to allow smaller token holders to enjoy the incentives that come with node operation. We will be introducing staking as a service in the form of delegated stakes. We have also decided to incentivize TestNet node operators for their contribution to our research and development. Read more in the following message:

Highlights:

MainNet nodes

• Two MainNet nodes are currently operated by COTI
• The first MainNet node to be run decentrally will launch next week

• Second MainNet node to run the week after
  
• Scale up plan, which includes qualification process and profit prediction per node will be introduced after their launch and with data gathered in their operation.

TestNet nodes

• Introduction of an incentive plan for test nodes operators
  
• TestNet node operator can stake 100K COTI and will gain 10% per annum
• In order to qualify as a MainNet node operator, one must qualify as a TestNet node operator

Delegated staking for the COTI community

• Staking as a service: COTI introduces the community node, a node that is operated by a community leader and staked by community members (delegated staking)
• Community node staking plan:

         - Overall 500K COTI staked, with a minimum guarantee of 30% gain per annum
         - Community leader becomes the technical node operator and stakes 100K COTI from the overall stake for at least 30% guaranteed gain per annum
         - For the first year, COTI will also pay the community leader a fixed monthly fee of 100$, paid with COTI, to recoup his costs
         - Community members may opt in to stake the remainder 400K COTI, for a period of at least 30 days, with a guaranteed return of at least 30% per annum.
         - Community members may stake a minimal amount of 5K COTI and a maximal amount of 10K COTI a month

• First community node is predicted to launch by the end of December

MainNet Nodes
MainNet nodes are the basic nodes of the COTI network. In the current development stage, Full Nodes are the only available nodes that can be run by network users. DSP Nodes and Trust Score Nodes will also be operated by users as the network matures. Watch the transaction confirmation process in COTI’s protocol here

The third MainNet node is planned to launch next week with version 1.02 of the Full Node. This will be the first MainNet node to run decentrally by a network user.
An upgraded version that includes MultiDAG and History nodes is planned to launch in January and will upgrade the node.

All node operators can earn profits from running nodes. Potential earnings can be estimated using our earnings Calculator.

Community Nodes
The fourth MainNet node will launch by the end of December and is planned to be a community node. A community node is a normal Full node that has a delegated staking mechanism to include more community members in the operation. Running a node in a payment system is an important task as it involves the confirmation of transactions to real world merchants. We have kept the staking COTI amount quite high to maintain the integrity of the network. We also understand that managing a node requires technical skills that not all participants have. We have been attentive to all of that and have decided to introduce the community node plan. Community nodes will be technically managed by a node operator with sufficient technical skills from the community, who has been qualified as a TestNet node operator and has been KYC’ed.

COTI will hand pick the first leader, but future leaders will be picked by the community, for the community’s sole discretion. Such member will technically run a node for the benefit of the COTI network and as a delegate of the community. Community nodes will run with a 500K COTI staked and with a guaranteed return of at least 30% per annum (the higher of fees generated by the node or 30% per year). The community leader managing the node will also receive a fixed fee of 100$ worth of COTI per month, from the COTI reserve, for the first year of operation for his valued contribution to our community. Lastly, the community leader will also enjoy the ability to stake 100K COTI with a guaranteed return of at least 30% per annum.

The remainder 400K of COTI to be staked on the community node will split between community members wishing to participate for the same 30% gains. Such members may stake 5K-10K COTI. The first community node stakers will be selected on a first come first serve basis. Expect a dedicated post about it next week. It’s important to note that the community node staking plan is experimental and different staking and returns may apply for the next nodes managed by the community. That said, the mentioned return is secured for participants in the first node until at least January 1st, 2021.

TestNet Nodes
In order to test full node operations, COTI requires a good testing ground for its nodes on its TestNet. The benefit for COTI in such testing is immense and in order to compensate TestNet node operators for their time and effort, COTI will allow such node operators to stake 100K COTI for a 10% per annum return. Also, as a requirement to run a MainNet node (basic, community or advanced) one must qualify as a test node operators. A qualification plan and staking guidelines for TestNet node operators will be published by the year’s end. We have already received hundreds of requests to run a TestNet node and we’d like to take this chance to thank you for your interest. We’ll be in touch with each and every one of you.

If you’d like to learn more about how to run a Full node on COTI’s TestNet network, please refer to the guide below:
https://medium.com/wolf-crypto/how-to-setup-a-coti-testnet-node-on-vultr-a3710d24f892


Timeline
Third MainNet node and the first decentralized node — December 23rd — December 25th, 2019
Open application to community node members — December 23rd, 2019
Fourth MainNet node and the first community node — December 26th — December 31st, 2019
TestNet nodes incentive plan launch — January 1st, 2020

Closing words
As promised, we continue to build and ship. The Binance community voting event has created a lot of attention to COTI, motivating us to push even harder.
We now ship decentralized Nodes on our MainNet and delegated staking. The rewards are awesome and you can take part in the payment processing system of the future.

Stay COTI!
We invite you to register to become a COTI Full Node operator. For any comments and suggestions about our staking plans, please send an email to [email protected]

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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Most of our advisors are investors. For example, Ernst and Young are advisors and provide valuable support to the project in many ways.
Of course of partners not only investing money. We have Global Trust System, an extension of the Trustchain Trustnodes onto any other blockchain. The GTS analyses transaction and behavioral data and updates trustscores in real time and soon to be deployed on Chainlink (https://medium.com/cotinetwork/coti-is-deploying-its-global-trust-system-gts-on-chainlink-e440a30eab27)
Also Cardano Foundation and COTI to offer an ada payment processing solution for merchants. You can read more here : https://medium.com/cotinetwork/cardano-foundation-and-coti-to-offer-an-ada-payment-processing-solution-for-merchants-84adf28f9f90

Kind regards,
Vladysalv Ovadenko
COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                 
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Our mainnet was launched on 4th of June 
Future releases of the COTI Payment Gateway will include support for Credit Cards, ETH, USDT, USDC and other popular cryptocurrencies (more to be announced on these VERY soon).
The COTI Payment Gateway solution includes a “Pay with Crypto” button that is integrated via an easy to install the widget into the merchant’s website checkout page. Merchants are able to track and manage their crypto payments via access to their COTI Pay Business Merchant CRM.
Merchants will receive payment in the sending currency via default (in this case Bitcoin), however via the Merchant CRM they can choose to convert the transaction to a stable coin or directly to one of 35 fiat currencies by adding in their bank account details.

Kind regards,
Vladysalv Ovadenko
COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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When is the mainnet launch? Some DAG based projects were launched already. It will be hard to make a competitions for them.
What does their "Payment Gateway" means? Is this the same as Utrust project has?

i made some research about Recruit , and looks very interesting. looks like they have a big company and own some big companies around the world.
i wonder if they are testing some use cases for Coti, or are they only investing money?

https://youtu.be/RjpvNPHHfEA

Today we are ticking off another milestone on our roadmap by releasing the first iteration of the COTI Payment Gateway. This initial release allows merchants to accept Bitcoin easily and directly via their websites and forms the first piece of our all-encompassing payment solution, the COTI Universal Payment Solution.
Future releases of the COTI Payment Gateway will include support for Credit Cards, ETH, USDT, USDC and other popular cryptocurrencies (more to be announced on these VERY soon).












The COTI Payment Gateway solution includes a “Pay with Crypto” button that is integrated via an easy to install the widget into the merchant’s website checkout page. Merchants are able to track and manage their crypto payments via access to their COTI Pay Business Merchant CRM.

Merchants will receive payment in the sending currency via default (in this case Bitcoin), however via the Merchant CRM they can choose to convert the transaction to a stable coin or directly to one of 35 fiat currencies by adding in their bank account details.









In the initial versions of the COTI Payment Gateway, all payments made via specific cryptocurrencies happen on each coin's actual chain, however, transactions are also mirrored on COTI’s Trustchain for future use on the COTI Universal Payment Solution and Global Trust System.
In future versions of the COTI Payment Gateway, settlement will be instantaneous and not rely on any individual coins chain, as COTI-X, COTI’s internal settlement layer, will process the transaction on the Trustchain and instantly process both the transaction for the consumer, while setting the payment to the merchants account in the coin or fiat of their choice.
This will allow a consumer to pay in Bitcoin without waiting for the confirmation times of the Bitcoin network and the merchant to instantly receive Bitcoin in their merchant account.
To see our Crypto Payment Gateway in action, we’ve created a demo COTI store where you can purchase a personalised COTI image for $0.50c. Become an exclusive member of the COTI Club while seeing exactly how our Crypto Payment Gateway will work by trying it out yourself. How you see it on our demo store is exactly how it will work for our merchants, the first of which is set to go live in the very near future.
Interested merchants to benefit from our solution are invited to fill in their details here.
Stay tuned as other exciting announcements will be following by the end of the month as we work towards adding support for Cardano (Pay with ADA) to our Payment Gateway!

COTI Resources
Website: https://coti.io
Telegram group: https://t.me/COTInetwork
Github: https://github.com/coti-io
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf

                                                                    
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ZUG, 23 OCTOBER 2019. The Cardano Foundation and COTI, an enterprise-grade fintech platform, are to develop an ada payment gateway. The offering — due to launch in November — will allow merchants to accept ada payments with a near instant settlement into 35 fiat currencies directly into their bank accounts.

COTI is developing and implementing the service, making the ada payment gateway solution simple to deploy for merchants. The payment solution will be easily integrated directly into merchant’s website either with an adaPay button or a QR-based point of sale (PoS) system. The offering will simplify accepting and settling ada payments, and enable merchants to manage all transactions in real-time.

Shahaf Bar-Geffen, CEO of COTI, says:
“We are pleased to team up with the Cardano Foundation in building a unique payment solution for merchants seeking adaPay checkout functionality. We have a lot to the mutual trust and support between the Cardano ecosystem partners and COTI. This joint effort is one of the first steps we are taking in delivering a truly universal payment solution and expanding the COTI tech stack beyond our own ecosystem. The ways people exchange value is changing for the better, and the future is looking more promising for payments.”

The Cardano Foundation will leverage COTI’s Universal Payment Solution (UPS) to power the ada payment gateway offering and further extend the utility use case for the token — both inside and outside of the Cardano ecosystem. The COTI UPS will provide a comprehensive ada payment solution that will combine all existing support systems of traditional payment processors with the added value of digital assets.
As COTI UPS is extended to provide other financial services, such as lending products and prepaid debit cards, these will also be made available to ada merchants.
Watch the preview of the ada payment gateway:

https://youtu.be/KsNEe3AenkA


A preview of the ada payment gateway is available in English, German, Korean, Japanese, and Chinese

About COTI: COTI is an enterprise-grade fintech platform that enables cross-chain interoperability and is built on its own DAG-based chain. It supports extreme scalability and low transaction costs and is supplemented with payment-specific requirements in the form of COTI Pay, a holistic digital payment solution. COTI Pay empowers enterprises and merchants to receive any kind of payment method and build their own payment networks and Coin as a Service (CaaS), settle instantly, earn interest and grow their businesses through working capital loans. Find out more: https://coti.io/

About the Cardano Foundation: The Cardano Foundation is an independent body based in Zug, Switzerland, with core responsibilities to help oversee and supervise the development of Cardano, the world’s first third-generation blockchain, and its ecosystem. The Foundation is committed to protecting and promoting Cardano, the first blockchain platform developed for smart contracts using a scientific philosophy, and to advocate on behalf of the users and community of the protocol. The Foundation works alongside Input Output HK (IOHK), who are contracted to design and build Cardano, and EMURGO, the for-profit arm working to boost the Cardano ecosystem through commercial ventures. The three entities are wholly separate in governance, ownership, and leadership. Find out more: www.CardanoFoundation.org

COTI Resources
Website: https://coti.io
Telegram: https://t.me/COTInetwork
Github: https://github.com/coti-io
Discord: https://discord.me/coti
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf