COTI completes MultiDAG 2.0 hard fork to fuel crypto payments with multi-token network
“The transition from a single currency infrastructure to a multi-token network is an exciting step for us, and we’re glad to have your support on this important path”, said COTI in a statement.
COTI has announced the successful completion of the MultiDAG 2.0 hard fork event, with the Mainnet gone live and Explorer 2.0 being deployed to Mainnet, alongside the Bridge 2.0 wallet app.
The hard fork took place after all node operators upgraded their nodes to version 3.1.2, in addition, Huobi and Kucoin have also upgraded their nodes and apps.
MultiDAG 2.0 to fuel adoption of crypto payments for enterprises
“Though the past year hasn’t been an easy one for the crypto world, here at COTI we have been focused on developing and building our suite of products to attain high quality standards. This launch signifies a massive step for the crypto industry, as well as COTI, as the MultiDAG 2.0 will increase the growth of the widespread adoption of crypto payments for enterprises that are yet to adopt crypto payment solutions. The transition from a single currency infrastructure to a multi-token network is an exciting step for us, and we’re glad to have your support on this important path”, said COTI in a statement.
The MultiDAG 2.0 protocol substantiates the full transition of COTI from a single currency infrastructure to a multi-token network as it looks to serve enterprises, enabling them to launch their own Private Payment Network (PPN) which includes the issuance of CMD branded payment tokens and issuance of CMD branded loyalty tokens.
The protocol utilizes the CMD (COTI MultiDAG) standard to enable the issuance of tokens on top of the COTI Trustchain, similar to the ERC20 token on Ethereum, but on a single DAG.
Bridge 2.0 wallet enables refunds
The release of the Bridge 2.0 wallet app includes the new refund feature, which will allow users to apply for a refund in the event that the swap fails to execute due to technical reasons, or if its processing is pending.
The new COTI Explorer offers a variety of stats related to the Trustchain. Additional enhancements such as the ability to search for any token that was generated on the Trustchain and view detailed information related to that token, as well as access to the COTI full node list, are now also available for our users.
Djed stablecoin to go live in January 2023
COTI has recently announced the upcoming launch of Djed, an over-collateralized algorithmic stablecoin built on Cardano and powered by COTI. Djed will be live on mainnet this January, 2023 following a successful full audit.
Djed will then be integrated with selected top partners and DEXs out of the 40 partnerships signed, to enable its proper utilization. These DEXs will offer increased rewards to those who will provide liquidity using Djed.
$DJED is pegged to USD, backed by the base coin $ADA, and uses $SHEN as its reserve coin. The algorithm is based on a collateral ratio within the range of 400%-800% for $DJED and $SHEN in order to ensure there’s enough $ADA in the pool.
The crypto winter has reminded everyone within the digital asset ecosystem that security and stability must be the top priority at all times. Djed is being released very prudently to make sure a thorough audit takes place as well as other rigorous stress tests prior to launching on Mainnet.
In addition, COTI will adopt a gradual and slow approach to providing $ADA liquidity to the Djed smart contract, to ensure consistent and careful growth.