Hey All,
I am sure folks who have their investment in the #coti project are excited about this recent news which was dropped by the COTI team around - COTI v2 Upgrade & What one need to know about it. To be honest, I am very excited about Coti V2 token upgrade which is coming with COTIs Mainnet launch in Q1 2025. At the moment there are no action items that the #coti holders need to perfrom, it was just a heads up as to how things are being planed for this transition and more details/updates will be provided by the COTI team via their official channels when the time comes. So what is COTI v2? Well in short::
COTI V2 is an EVM [Ethereum Virtual Machine] L2 solving blockchain privacy with Garbled Circuits — 1000x faster & 250x lighter than other current privacy solutions
During this upgrade the COTI V1 Native tokens to COTI V2 Native tokens (There will be no need to change the COTI ERC20 tokens as the contract there remains the same and its on EVM l2 already) will happen. In nutshell the #coti tokens gets migrated over to EVM layer2 and hence there would be some actions from the exiting users who hodl the native #coti tokens to get them migrated as Coti V2. And because of this excitement we did see price of COTI surge drastically. Lets now check into some actions that will be required from the users who #hold the native Coti V1 tokens.
At first I will cover the case where users Coti V1 tokens in Treasury. So incase you have tokens here as is the case with me, we need not worry as everything will be automatically upgraded to V2 $COTI, and will be accessible via the Treasury App (at https://treasury.coti.io/ ). All we will need to do is provide our ETH wallet address via the metamask and things would be taken care of. When to provide the address that we will come to know in one of the proceeding blogs from the COTI team.
Next comes the V1 Native $COTI held outside the Treasury (including VIPER wallet addresses). Here there would be COTI bridge available for seamless 1:1 token swap via https://bridge.coti.io/
And finally all #COTI ERC20 holders there is no action required. As the ERC20 contract will remain unaffected. So its a added advantage for folks having erc20 coti tokens nothing is required from their end. A note here though same is the case that will apply for users holding #gcoti tokens. Well this should be it for todays post on COTI v2 Upgrade Is COMING - Get Ready... Exciting times ahead and I just wish #coti from here on continues to rise and breaks its all time high price...coti to the moon soon... Happy Investing & Stay COTI....cheers
Are you invested in #COTI token? Did you know about this bridge on the COTI platform that lets you to transfer your COTI from centralized exchange to a DEX? Are you staking COTI vs gCOTI? Would love to hear your thoughts around it in the comment box below? Cheers
#coti #gcoti #payment #howto #transfer #crypto #cryptoofinternet #hodl #binance #bridge #currencyofinternet
Best Regards
Image Courtesy:: coti.pay, congecko, medium
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've have an interest in BlockChain & Cryptos and have been investing in many emerging projects..
