This afternoon we had our first AMA with the new COTI team namely the ZK Foundation. This week has seen so much upheaval as the hand over from the COTI Foundation to the ZK Foundation could have been handled far more professionally.
For the last 4 years I have never really questioned my investment or involvement in COTI and over the last 48 hours have been revisiting the reasons to remain and stay invested. It is good to step back analyze and to process what has happened and I feel far more comfortable now.
Nothing has really changed as the developed tech being Garbled Circuits for privacy on demand remains and is already battled tested and live on Avalanche. The new team is tasked with now running this privacy tech integrating this with many other blockchains. No change there then as this was already announced and expected with Ethereum lined up next.
The old COTI development team will be around for another couple of months doing the hand overs and being on hand to assist. The ZK Foundation has a strong base to build from with an emphasis of continuation plus adding real world utilities for the COTI token.
The tokenomics remain the same with a priority to move from inflationary to deflationary as quickly as possible. Use cases and adoption will do this and why POD needs to be on as many exchanges as possible. The burn mechanisms will be key to decreasing the number of COTI in circulation and adding as many transactions through all the various avenues would change things very quickly.
I am questioning the COTI card launch along with delving into institutional travel unless it is linked to what I am presuming would be Emirates and other airlines. I am presuming this because I know the work already done by COTI in Dubai with the RWA Tokenization Roundtables and expect this is or was already planned. This may sound new, but it kind of figures out as the government of the UAE and COTI are pretty much inter twined. I would not be shocked or blown away if COTI was involved with the Digital Dirham especially having ties with the Digital Euro and Shekel.
Overall the AMA never blew anyone away as there is no need to hype something up that is already working and was more about settling any fears. I do think the changes were correct just the way it was handled made it slightly messy which made many uneasy.
The ZK Foundation has at least two years or runway to help boost COTI which is good news knowing they are not relying on COTI for salary payments or promotions. They now need to prove themselves and the next 90 days will be rather revealing whether they are the right match or not or it is time to look for other investments. I do not think I would sell my COTI now knowing where we are in the cycle, but would definitely have other staked bags of other crypto elsewhere if given the choice. Still COTI I believe is a great investment, but the unknown with this new team just upped the risk by a few percent.
I think whilst I give the new team until the end of the year I will be starting investing elsewhere as my COTI bag will be close to 400K by December through the rewards earned organically on KuCoin. This is as good a time as any especially if we have another 12 months (hopefully) before we see the next peak of the cycle. I am looking at SUI, ROSE, AVAX and LINK and may start growing a bag of each for now.