In this article, I will write about the new Initial Exchange Offering of KuCoin Spotlight, Coti (COTI).
You can check the other IEOs from the link.
What is COTI?
“COTI is the first enterprise-grade fintech platform that empowers organizations to build their own payment solution and digitize any currency to save time and money.”
COTI’s mission is to build mechanisms to watch, detect and defend the possible attacks and save the network security.
COTI (Currency Of The Internet) is a type of next-generation cryptocurrency in which high transaction throughput and low fees can be procured via easily manageable decentralised structures. Contrary to blockchain, COTI employs the Cluster, a Directed Acyclic Graph (DAG) of transactions, that provides its feature of high transaction throughput.
The Cluster is not stocked by a central authority and completely depends on decentralised DAG.
The record of all transactions is carried out by the network.
Thanks to its use of parallel source selection and it’s Trust Scores and confirmation of transactions, the Cluster attains scalability.
“COTI also introduces a MultiDAG structure and high-performance smart contracts, which provide a multitude of tools for enterprises, merchants, governments, developers and stable coin issuers.”
Moreover, it provides the 7 necessary elements for a perfect payment infrastructure:
It can process over 100,000 TPS, compared to 25,000 TPS in traditional payment systems and up to 20 TPS in common blockchain protocols.
It is very user-friendly.
- Buyer-seller protections
It provides the first ever dispute resolution system to safeguard users against errors, fraud and counterparty abuse.
It reduces costs and energy consumption by eliminating the need for costly mining.
- Price stability
COTI is creating price stability technology.
Fast transactions when compared with the traditional methods.
COTI’s distributed ledger technology eliminates a single point of failure for enhanced security.
Token Type: Own Insfrastructure (DAG Based)
Hard Cap: 3,000,000 USD
Total Token Supply: 2,000,000,000
Initial Token Supply: 3.79%
Token Price: 1 COTI=0.065 USD
Spotlight Allocation: 46,125,000
Individual Cap: 15384 COTI (Up to 2 winning tickets per winning user allowed)
Allocation Per Winning Ticket: 500 USD (7692 COTI)
Private Sale Token Price: 1 COTI=0.08 USD
Private Sale Allocation: 10.01% of Total Supply.
Private Sale Lock Period: 1.29% unlocked when listing and 1.01% unlocked in the fourth month (based on the total supply). The remain supply will be gradually released over the next 33 months.
Seed Token Price: 1 COTI=0.06 USD.
Seed Sale Allocation: 2.87% of the total supply.
Public Sale Start Time: Will be released soon.
Public Sale End Time: June 3 2019 23:59:59 (UTC+8).
How to Buy COTI?
It will be a lottery based system. In order to buy COTI, you have to lock KCS.
For more sale details, you can check the link.