COTI – Cardano’s Djed Issuer -has recently announced that gCOTI (the network’s token for Treasury governance) has been minted. In addition to this, COTI has also disclosed that it has minted the initial CMD token. It has issued this token on top of the MultiDAG 2.0 of COTI. In its latest blog post on Medium, the platform mentioned that it is enthusiastic about the new move.
COTI Network Mints ‘gCOTI’ Token for Treasury Governance
While elaborating, the payment transfer network mentioned that the cumulative supply of the gCOTI token will be nearly 1,000,000,000 tokens. As per the platform, the total supply has been minted on the 14th of February 2023. The company mentioned that it had formerly asserted the fair distribution of the gCOTI tokens without any loyalty costs for the Treasury contributors or the community members of the COTI network.
This time, the company reiterated the same vision to facilitate the users. According to the blockchain ecosystem, the minting of gCOTI tokens is included in its way to prepare for the airdrop campaign for the governance token. The campaign is scheduled for the coming time. The launch of the gCOTI tokens permits the Treasury members to get several advantages from the Treasury division of the COTI network.
These benefits have been mentioned by COTI in its recently published “Treasury 2.0 litepaper”. A few of the benefits take into account governance, APY enhancement, as well as contribution to liquidations. In the case of governance, the people holding gCOTI tokens will be permitted to propose as well as debate on the features along with voting on the issues dealing with the Treasury protocol’s management.
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Moreover, gCOTI tokens’ deposit in parallel with the COTI tokens paves the way for enhanced reward share for depositors. The rewards are distributed from the firm’s Treasury Reserve Fund. Along with this, those holding gCOTI tokens will be permitted to utilize their tokens for buying discounted Treasury deposits of the COTI tokens from the Treasury division of the COTI network.
The Blockchain Ecosystem Expresses Commitment to Grow the Use Cases of gCOTI
As per COTI, it will permit the Treasury of the ecosystem to push the boundaries of COTI. Moreover, advancement of the innovative ideas will enhance the community and the Treasury of the ecosystem. Coupled with this will be the latest upgrades to explore the locking mechanism to add the latest functions. Moreover, it will increase the gCOTI token’s use cases.