COTI

COTI is a cryptocurrency built into the base layer of the Coti network used as a means of payments, including fees and staking within the Coti ecosystem. All COTI tokens were created at the project’s launch, meaning that it has a fixed supply. The project launched with a total supply of 2 billion COTI tokens with no possibility of destroying tokens or creating tokens via mining.

Thirty percent of COTI was sold during its pre-launch private token sale and subsequent public sale. The private sale offered COTI tokens for $0.08 to investors looking to allocate at least $50,000 in capital. The public sale occurred in June 2019, selling COTI for $0.065, raising a collective total of over $3 million for the project.

Following the launch, the tokens officially went live in May 2019; 15% of tokens were distributed to team members for their early involvement and 10% to Coti’s advisers. The remaining 45% of tokens are reserved for incentives and liquidity reserves. Incentive programs include COTI payments to partners, node operators, merchants and users in order to encourage early adopters to utilize the new payment system.

COTI was at an all-time low in November 2019 at $0.006266, falling just below its initial coin offering (ICO) price in its first six months of operating. By November 2021, the project was able to reclaim its ICO and further gain nearly 1,000% to an all-time high of $0.6826. The all-time high came after Coti announced a partnership with Cardano on the CardWallet project and became the lead issuer of the Cardano-based Djed stablecoin. By the end of November, Coti had fallen around 56%.

In addition to its all-time high, COTI additionally saw spikes to new highs back in March following the launch of Coti Staking 3.0, the integration of a Binance Smart Chain-based BEP20 token and a $500 million investment from the Cardano Fund (cFund).