COTI declares minting of gCOTI, the Treasury governance token
The first CMD token and the gCOTI, which serves as COTI’s Treasury governance token, were both created and minted on February 14, 2023. On top of COTI’s MultiDAG 2.0, the CMD token has been duly issued. The total number of gCOTI tokens that have been issued is 1,000,000,000.
✨ gCOTI has been minted !
🚀 @COTInetwork introduces gCOTI : The first CMD token issued on the MultiDAG 2.0 platform.
🚀 gCOTI has a total supply of 1,000,000,000 tokens, which have been minted entirely https://t.co/WyxVPRyTla
— CryptoNewsZ (@cryptonewsz_) February 16, 2023
As it turns out, the gCOTI will be duly allocated fairly and transparently and will bear no cost whatsoever in the case of its community members and the Treasury contributors. The minting of the gCOTI that has been carried out is the first phase of the gCOTI airdrop campaign that has been decided upon and will take place in the coming days.
It will likely be the Treasury participants who will find themselves greatly benefiting from the advent of the gCOTI. To begin with, a case in point would be matters related to overall governance. In this very situation, all of the gCOTI holders will be in the position of possessing the right to debate. They will also find themselves able to forward their proposals regarding features. Along with that, they will be able to cast their votes on issues connected with the overall management of the Treasury Protocol.
Then there is the issue of APY boosters, in which case the deposits made of gCOTI, along with the $COTI, will provide the depositor with the opportunity to claim a larger share related to the rewards that are duly allocated through the Treasury Reserve Fund. There is also a matter associated with taking an active part in liquidations. In this scenario, it will be the gCOTI holders who will find themselves in the position of being able to utilize their individual tokens for the purchase of discounted $COTI Treasury deposits through the Treasury itself.
Both the Treasury and the related community will significantly benefit from allowing the Treasury to expand beyond the highest levels of $COTI and allowing the affiliated community to develop new and innovative ideas. All of this would be followed by the regular upgrade work performed in conjunction with the locking mechanism. There will be several lockout periods with the inclusion of newly offered functionality and new gCOTI use cases.