Interview with the CEO of COTI

How would you describe the main pillars of the product?

COTI is a fully encompassing “Finance on the blockchain” ecosystem, designed specifically to meet the challenges of centralized finance (fees, latency, global inclusion, and risk) by introducing a new type of DAG-based protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance. We have also introduced the MultiDAG structure, allowing the issuance of tokens on top of a DAG base structure, like no one else, has ever managed to achieve. The Trustchain protocol also includes a Proof of Trust Consensus Algorithm, a Global Trust System, a Universal Payment Solution, a Payment Gateway as well as consumer and merchant applications.

What is your team strength?

We are experienced builders.

Tell us more about your Defi product: Crypto Volatility Index. How did you come up with this product and how do COTI as a company and CVI as a project relate to each other?

We have created and released CVI and $GOVI to bring the very popular Market Fear Index from traditional markets to the crypto space.

  • Buy a position in the index if they believe volatility in crypto is about to grow, as a speculation or as a hedge for their portfolio
  • Become a platform liquidity provider to earn fees whether they feel that volatility will decrease or remain the same.
  • Protect their position as liquidity providers on DEXs like Uniswap against impermanent loss (caused by major fluctuations in assets price, regardless of the direction)
  • Earn $GOVI on all of the above

What can you tell us about the partners backing you up?

We have built important partnerships in both the crypto space and the traditional world. We partnered with Cardano, developing the ‘pay with ADA’ gateway and with Chainlink to build an Oracle to calculate the Crypto Volatility Index and to stream its date. Other important partnerships include Recruit; a major global enterprise with a market cap of over $50 billion, Celsius Network, which will support the COTI Earn functionality in the COTI Pay wallet to allow consumers and merchants to easily earn interest and access loans directly on the COTI platform. We have partnered with Simplex and MoonPay, allowing COTI to join top currencies like BTC and ETH in the ability to be purchased directly with a card or bank transfer. Top exchanges and platforms like Binance, Kucoin, Changelly, and ChangeNOW have adopted the solution and their user base can now buy COTI directly with fiat.

About the future; Do you have any development plans you’d like to share?

We do. A lot. We released both COTI’s and CVI’s roadmaps earlier this year, which include all of our upcoming milestones for the next 6 months, such as debit card and bank account, several licenses, adaPay on MainNet, Celsius integration, and more.

What’s the added value of COTI in comparison with other competitors?

COTI’s Universal Payment System (UPS) provides a comprehensive payment solution that combines all existing support systems of traditional payment processors with the added value of digital assets. A merchant would prefer COTI Pay to his traditional solution because COTI gives him everything that he gets with his previous solution (like credit card processing) but adds some very important benefits like INSTANT payment, low transaction fees (sometimes up to 90% cheaper), Defi based Savings account and global access to the underbanked.

How are you aiming to provide scalability to your service?

To overcome the speed challenge, COTI has developed a new approach to achieving consensus between transacting parties operating on a DAG-based data structure. The Cluster achieves scalability through its use of parallel source selections and transaction confirmations, as well as its use of trust scores in the COTI network, already clocking more than 10K TPS.

What makes COTI different from other crypto projects?

COTI is a revenue-generating company, a blockchain-based Fintech solution in payment processing. We utilize a proprietary protocol we have built and a cryptocurrency infrastructure to improve how payments are done globally. On the COTI network, all transactions are carried out using $COTI to pay fees for services rendered to merchants. The growth of volume on the Trustchain directly benefits the stakers and node operators of COTI by paying lucrative rewards.
At the end of the day, COTI will be the platform for anyone who wants a working fiat/credit cards/crypto payment solution as well as Defi products.

What made your staking program so popular and how is it different from other staking programs?

  • COTI’s staking reward model is based on the merchant’s׳ transaction volume processed on the Trustchain, generating fees for node operators and stakers. Therefore, with an ever-growing merchant’s׳ transaction volume, the staking program can only grow with time.
  • COTI’s staking program is one of the most rewarding programs out there and the staking 3.0 program allows each participant to stake more COTI and earn more rewards. The following table summarizes the staking classes and guaranteed rewards of community nodes:
  • We are limiting the number of nodes to make it profitable for operators and stakers
  • There is a tremendous demand to stake COTI. We opened the staking 3.0 application on February 11th, and since then, over 350M COTI in demand to be staked!

What else can your infrastructure be used for?

Essentially anything that required high speed and low transaction costs. Payments, of course, but also loyalty, IoT, Data storage and more.

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Crypto Rand

Crypto Rand

7.8K Followers

Investor & Trader. CEO of Blockground Capital. Based between Andorra and Bangkok.