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COTI, a company engaged in corporate cryptocurrency solutions, which is also the developer and issuer of the Djed stablecoin on the Cardano network, has presented an important update of its project. It includes a new commission model that will come into force in mid-January 2023.
We are pleased to present an updated Treasury fee structure in accordance with the feedback we have received from our community. We believe that this structure is fair, transparent and consistent with our long-term vision.
The official COTI blog on Medium says that the deposit fee has been halved to 0.25%. Deposit and withdrawal fees have changed even more globally and are now linked to the duration of the deposit. In other words, the longer the deposit is kept in the treasury, the lower the withdrawal fee, but it will be at least 0.4%.
As part of the update, commissions have been introduced, which depend on the risk of liquidation of the COTI deposit. They are charged for deposits with a multiplier and range from 1% to 5%.
January promises to be a busy month for COTI, as the Djed stablecoin, developed jointly with the founding company Cardano, will be launched on the main network.
Djed is a redundant ADA-backed stablecoin running on the Cardano network. In addition to the launch of the stablecoin, a service for accepting payments in Djed called DjedPay will be launched.
