Hey All,
In one of my blog I talked about investing in #COTI which is also know as Currency of the Internet. I started with the GOAL of buying 100K+ #COTI tokens and the same was bought with the profits earned from selling #RUNE. Bought #COTI Goal for 100K+ COTI Accomplished - What's' Next? is the post I am talking about and you can read about it here. Till date I had not staked COTI and was missing out on the APR rewards, I was trying to buy gCOTI which is the governance token of the chain and if you stake 1:1 [COTI :: gCOTI] it helps you to the boost the APR rewards. And to be honest its difficult to buy gCOTI considering very less liquidity on uniswap. Yes, I know that I am missing on the higher APR rewards but the problem is to get gCOTI is difficult and because of the demand its price has already skyrocketed at the moment its trading over $0.03+ cents. Here is the snapshot of my COTI treasury with 99K+ COTI staked which is worth $5K+ the max APR one can get is above 37% but right now I am setting with just mere 3.75% APR rewards. why so?
Current #COTI Treasury State - & My Stake as well...
because - I have deposited 0 gCOTI out of a maximum possible deposit of 99,082.20967581 gCOTI. The APY Boost percentage for this deposit is therefore 0% out of a maximum potential of 12.61882118%. The rest percentage APR comes with the multiplier and the lockin period you select. Here is some glimpse to the different APR based on tier/multiplier levels
COTI token Stats as per coningecko as of today is...
Market Ranking: 414
Token Price: $0.055945
Circulating Supply: 1,262,013,246.43
Total Supply: 2,000,000,000
24 hour trading volume: $5,721,053
The token is down 2% today and has a marketcap of $71+ Million and a total supply of 2 Billion tokens. It is currently -92% from its All-Time High price of $0.66+ so I guess buying COTI at a price less than $0.05 cents is a stealer deal consider what the project has to offer and is trying to solve problems associated to traditional payment systems like:: Scalability, Transaction Speed, Cost Efficiency, Trust and Security, Usability, Smart Contracts and there is much more to it.
Currently, I have locked all the #COTI that I was holding until 30th March, 2024 and this is going to yield me rewards at an APR of 3.15%. In between I would also be looking for opportunities if I could buy gCOTI at a decent price and then would redirect gCOTI to boost the APR. Definately I would not want to miss on the boost rewards but as you see it comes at a cost and one need to be prepared to pay that cost. Earlier my strategy was to just HODL COTI but now shifted it to staking and accumulate those rewards in real time. Lets see in near future, I can at least get 10K gCOTI that's the short term plan hopefully soon if some deal strikes... COTI to the moon soon ..... cheers
Best Regards
Image Courtesy:: Binance, coti.pay, void, congecko
PS:- None of the above is a FINANCIAL Advice. Please DYOR; Do your own research. I've an interest in BlockChain & Cryptos and have been investing in many emerging projects..