I made a deposit to COTI's treasury, so it will be a report blog.You can get rewards by making a deposit.
You can earn rewards by depositing COTI tokens in treasury.
Please note that there are rules different from ADA staking.
Advance preparation and precautions
- Create a CITI Pay account from the official website
- Requires KYC
- Let's set up two-step verification
- This is a COTI case purchased from Binance as of March 2022, 3.
- It seems that remittances from domestic exchanges to overseas exchanges may not be permitted, so please check if it is possible.
- As development is constantly underway, the display and behavior may change.We hope that you will read it as a reference, not as a manual, but as an experience report.
- 2022/04/10 Addendum-In order to file a tax return, the remuneration history at the time of remuneration acquisition is required in Japan.Since there is no report function, we are inquiring.Added terms.
Send COTI to wallet
As an example, you will receive ERC20 COTI tokens pre-purchased at Binance in your cotipay wallet.
First, get the Receive address on the next screen.Press "Generate new" to generate a new address.
When sending COTI for ERC20 tokens, use the cross-chain bridge on the official website: https://bridge.coti.io/
It will be transferred to the COTI wallet via here.
COTI Official Website:
MainNet → You can follow it from the cross-chain bridge.
Swap: "COTI ERC 20 token"
To: "COTI coin"
Please enter COTI address you wish to receive your COTI coins to: Enter the Receive address copied in the wallet
Remittances to the wrong chain can make it impossible to retrieve your assets.Please confirm the address more than enough.
After filling in the required items, press "NEXT".
You will be instructed to send a COTI ERC 20 token to the Ethereum address.
"Once the transfer is complete and the transaction is confirmed, the COTI coin will be transferred to the COTI mainnet address entered below."
If you send it to the wrong address, you may not be able to retrieve it, so check it carefully.
From here, it will be an example of withdrawal in Binance.
Currency: Select COTI
Withdrawal destination: Specify the Ethereum address obtained earlier
Withdrawal amount: Optional
Specify the physical wallet
This time, 129 COTI network fees are included.At the time of writing this article, it was about 2967 yen.
Check the contents and press "Next".
Authenticate security.The display differs depending on the settings.
The status is waiting for approval.
After a while, you can check the reception on the dashboard.It arrived in a few minutes.
Deposit to treasury
Press "New Deposit" on the Treasury page.
As an example, in the center column part, I operated and entered as follows.
Amount: COTI quantity
Include fees: Check deposits and withdrawals as there are fees.
Multiplier: Choose X1 because you want a lower risk.
Locking Period (Days): A long locking period increases the risk of price fluctuations.The reward will be larger accordingly.I chose 120D because of the surplus funds.
Check the contents in the right part.
Make sure that your entries are reflected correctly, treasury fees, and transaction fees.
Check "I agree to all terms & conditions."
If everything is okay, press "New Deposit".
On the Treasury screen, the amount deposited in "My Treasury" will be displayed.
You can check the Reward.The reward seems to be updated one by one.
Users can stake by depositing COTI to the treasury.You can add COTI to your valid deposits at any time you like.Deposits earn APY in the form of Treasury Rewards (COTI) based on the deposit ratio and lock period.When creating a new deposit, adjust the deposit ratio (eg x1, x2, x3, x4) and lock period (eg Unlocked, 30, 60, 90, 120 days) and deposit based on your risk tolerance It is possible to adjust the risk factors of.Risk factors range from minimum risk (no lock, multiplier x1) to maximum risk (120 days, multiplier x4).After deposit, the only actions you can take are deposit and / or deposit and withdrawal of additional funds.After the set lock period has expired, you can set a new lock period.
APY is the annual rate of return on investment.The APY of the deposit is calculated based on the risk factor of the deposit, which is the sum of the deposit amount, the multiplier and the lock period. APY calculation is performed every 60 seconds.Increasing the deposit factor will increase the APY accordingly.It also increases the liquidity risk for deposits due to COTI price fluctuations.In addition, treasury APYs are affected by inbound and outbound liquidity flows. Keep in mind that the APY is an estimated APY as it is recalculated every 60 seconds and may fluctuate (increase / decrease) during the life cycle of the deposit.
I tried to deposit COTI purchased from Binance in the official wallet, so I wrote an article.
APY is quite high at about 13%, but you need to think carefully about the risk of price fluctuations and the risk of project survival.
Also, the fee for sending ERC 20 tokens is about 3000 yen, which is quite high.Please note that it will take almost twice as long to send in a test to confirm receipt.
A total of 40 COTI (about 1000 yen) was charged for deposits and transaction fees.
I would like to add if there is a reward result or useful information.
COTI has a lot of information, so it is officialmediumEtc. are also recommended.
COTI Official Website:
The COTI 2022 Roadmap — The Ultimate Layer 1 for Payments:
COTI Treasury: One Week Recap:
Everything You Need To Know About The COTI Treasury:
Thank you for reading to the end.
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