COTI is turning positive as the Cardano ecosystem becomes more integrated, and the imminent introduction of MultiDAG 2.0 and the Djed stablecoin indicate improving fundamentals. In the fast-paced and competitive crypto market, development never stops, and COTI is one project that is showing some promising signals.
COTI, an enterprise-grade financial technology platform focusing on decentralized payments and digitalization for any type of money, might be on the cusp of a breakthrough, according to VORTECSTM.
After hitting a high of 89 on April 13, the indicator began to identify a positive outlook for COTI.
Expectations for the imminent introduction of MultiDAG 2.0, tighter integration with many aspects of the Cardano ecosystem, and increased use of the protocol's Djed stablecoin are three reasons for COTI's positive outlook.
MultiDAG 2.0 will be released soon.
The protocol's intention to introduce its MultiDAG 2.0 layer, which will enable the issuance of additional tokens on top of the network's Trustchain, is one of the most significant impending advancements for Coti.
With the launch of MultiDAG 2.0 on the COTI mainnet, COTI's treasury will be able to create a governance token, which will be the first enterprise token and payment token built on top of the COTI Trustchain.
In April, the team expects to release a FoxNet for MultiDAG 2.0, followed by a Testnet by the end of May. COTI intends to create a new token standard after the Testnet is published, with a preliminary objective of launching MultiDAG 2.0 on Mainnet in Q3.
Integration of the Cardano ecosystem
COTI's growing connection with the Cardano ecosystem, which has begun to witness the release of its first decentralized apps (DApps) and DeFi protocols, is a second element that has helped it gain traction. The Cardano DeFi Alliance, Adaswap, Project Catalyst, and NFT-Maker are some of the Cardano-based protocols with which COTI has developed working connections.
Adoption of the Djed stablecoin
The introduction of COTI's Djed stablecoin is another positive move. Stablecoin issuance has been a popular strategy in the cryptocurrency industry, since it encourages investors to put more money into the ecosystem in exchange for a higher return.
Djed is a crypto-backed algorithmic stablecoin developed by Cardano and COTI to run the Cardano DeFi ecosystem. It leverages smart contracts to maintain a stable price. COTI expects to release Djed on its Mainnet by the end of Q2 once the project has been completely tested on Testnet and has passed an external security audit.
In the Cardano ecosystem, more than 15 strategic collaborations have been inked with DeFi and NFT protocols, with more planned. This means that once Djed is completely launched, it will have sufficient liquidity and applicability, and if stablecoin launches from other protocols can be used as a predictor of future performance, COTI may gain from the predicted increase in protocol TVL.
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