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The past year was brutal for cryptocurrencies and their market values. However, a bear market is an excellent time to continue building. The COTI team did exactly that and has laid out its 2023 roadmap.
COTI Focuses on Building Despite Bearish 2022
The year 2022 will always be remembered as the year in which crypto markets lost roughly 70% of their value. It is not the first major price dip, nor will it be the last. In addition, several incidents have proven problematic, including the downfall of the Terra ecosystem, FTX collapsing, and Celsius filing for bankruptcy. These setbacks are par for the course during phases of growth. Although markets shed much value, the industry has grown stronger thanks to dedicated builders.
One team accustomed to distress are the COTI developers. The project saw the light of day during the 2017-2018 bull-bear market and didn’t lose sleep over shifting market conditions. Instead, its team has worked on providing positive changes to the ecosystem. One such crucial change is focusing more on regulation and oversight. Whether developers like it or not, those two facets will become more prevalent in the coming years.
COTI will continue to provide developer tools to accommodate that regulatory-focused future. In addition, the network will remain optimized for specific use cases, allowing COTI to flourish alongside other Layer-1 chains like Ethereum, Cardano, and Solana. The enterprise-focused nature of COTI primarily proves beneficial in the payments space. That is where the regulatory approach and willingness to comply come into the picture again.
Doubling Down On Enterprise Solutions
Keeping the momentum going for COTI will be a key hurdle to overcome. However, the team is confident in its Tech 2.0 stack, which they aim to bring to more enterprise-grade clients. In addition, the world will likely see new enterprise tokens issued on the network. Furthermore, the team expects to push the adoption of the Djed stablecoin higher on Cardano.
Part of that vision will hinge on adopting Private Payment Network solutions. More specifically, COTI’s DAG-based protocol enables scalable and instant settlement-based payment networks. That may be of interest to enterprises as an alternative – or replacement – for existing payment rails. These features are accessible through COTI’s white-label solution, and enterprises can bridge to other networks if they see fit.
The team also outlines previous and future updates to the COTI Treasury. Its introduction in 2022 was well-received and resulted in a capital-efficient system. An “update” to Treasury 2.0 is planned for 2023, enabling the deposit of non-$COTI tokens. Furthermore, there will be a Treasury governance token, a Reserve Fund, and Stability Pool. Users can also engage in token swaps between assets in Treasury 2.0.
Further changes will be made to the DAG system and emissions under the COTI V2 banner.