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“Moving from a single currency infrastructure to a multi-token network is an exciting step for us and we are delighted to have your support in this important journey,” COTI said in a statement.
COTI announced the successful conclusion of the MultiDAG 2.0 hard fork event. The mainnet is now live and Explorer 2.0 has been deployed on the mainnet along with the Bridge 2.0 wallet app.
The hard fork happened 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 Drives Adoption of Cryptocurrency Payments for Enterprises
“Last year has not been an easy year for the crypto world, but here at COTI we have focused on developing and building our product suite to achieve high quality standards. This launch represents a major step forward for the crypto industry and COTI as it facilitates the growth of widespread adoption of crypto payments to businesses that do not have a single currency.Moving from a single currency infrastructure to a multi-token network is a big step for us. It’s an exciting step and we are delighted to have your support on this important path,” COTI said in a statement.
The MultiDAG 2.0 protocol demonstrates the full transition of COTI from a single currency infrastructure to a multi-token network, as COTI appears to serve enterprises, and has its own private network, including the issuance of CMD branded payment tokens. Allows the Payments Network (PPN) to initiate the issuance of CMD branded loyalty tokens.
This protocol utilizes the CMD (COTI MultiDAG) standard to allow tokens to be issued on the COTI trust chain in a single DAG, similar to Ethereum’s ERC20 token.
Bridge 2.0 wallet allows refunds
The release of the Bridge 2.0 wallet app includes a new refund feature that allows users to request a refund if the swap execution fails for technical reasons or is pending processing.
The new COTI Explorer provides various statistics related to Trustchain. Additional enhancements such as the ability to search for any Trustchain-generated token and view detailed information related to that token, as well as access to the COTI full node list, are also now available to users.
JED stablecoin will go live in January 2023
COTI recently announced the launch of Djed, an overcollateralized algorithmic stablecoin built on Cardano and powered by COTI. Djed will go live on mainnet in January 2023 after a successful full audit.
Djed will then be integrated with top partners and DEXs selected from 40 signed partnerships for proper utilization. These DEXs offer more rewards to those who use Djed to provide liquidity.
$DJED is pegged to USD backed by base coin $ADA and uses $SHEN as reserve coin. The algorithm is based on a collateral ratio between 400% and 800% of $DJED and $SHEN to ensure there is enough $ADA in the pool.
Crypto winter has reminded everyone within the digital asset ecosystem that security and stability must always be top priorities. It is released very carefully to ensure that it has undergone extensive audits and other rigorous stress tests.
Additionally, COTI will adopt a gradual and slow approach to providing $ADA liquidity to the Djed smart contract, ensuring consistent and prudent growth.
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