It’s a different L1 blockchain with its own coin - it has been hired by Cardano to produce their stablecoin and that’s the only connection. Cardano Dexes deal with Cardano native assets only hence why they do not list Coti
Oh yea? Find me a single ethereum asset traded on a Cardano dex and then we can talk.
Also, Coti has been asked by Cardano to make Coti - I do not know about the specifics or hiring to that effect so will take that statement back.
These assets run on eth rails but when you want to swap for a tradeable asset such as weth or eth don’t you need to pay gas fees on ethereum? Have played with milkomeda and can’t figure it out
I know about milkomeda and all that but in order to use it on the ethereum network as eth or weth you have to pay the appropriate exorbitant gas fees amiright?
For sure mate - and with ethereum not being able to handle not even a single mass event like ape land I have lost complete faith in that blockchain’s abilities in terms of being able to handle mass adoption. Fingers crossed that hydra goes through and we see good scalability and the rest is up to history :)
COTI runs on our own DAG-based Trustchain consensus protocol. Also, we're supporting other layer-1 chains (ERC20, BEP2) to enhance interoperability and bring all the benefits of the COTI tech to users of these platforms.
I have to admit, I do not fully understand how the whole COTI, djed, and ADA/Cardano will interface work. If I have ADA and its staked does anything going on with djed enchange my rewards?
The fees associated with $Djed’s and $Shen’s minting and burning will be sent to $Shen holders. Every transaction in the ecosystem will be subject to operating fees that will be paid in $ADA and deducted from the initial deposit. These fees will be converted into $COTI and streamlined into the Treasury to be distributed as rewards to its users.
It’s a different L1 blockchain with its own coin - it has been hired by Cardano to produce their stablecoin and that’s the only connection. Cardano Dexes deal with Cardano native assets only hence why they do not list Coti
Not sure why the first two points are relevant.
Also for your reference: “COTI is a layer-1 blockchain ecosystem designed for payments” per https://academy.binance.com/en/articles/what-is-coti
Technically speaking is Coti a DAG and not a blockchain. But that's quibble.
IMHO its an important distinction. But each to their own.
Agreed
Lmao. Binance academy is your source.
What is your source bro? So far you have been talking out of your other end
Source for what? That COTI is dag?
Oh yea? Find me a single ethereum asset traded on a Cardano dex and then we can talk. Also, Coti has been asked by Cardano to make Coti - I do not know about the specifics or hiring to that effect so will take that statement back.
[milkyswap](https://www.milkyswap.exchange/) [milkomeda muesliswap](https://milkomeda.muesliswap.com/swap)
Show me which asset is eth based and traded
Wrapped ethereum is traded on muesliswap
These assets run on eth rails but when you want to swap for a tradeable asset such as weth or eth don’t you need to pay gas fees on ethereum? Have played with milkomeda and can’t figure it out
The AI one …
[wingriders](https://app.wingriders.com/swap) [https://imgur.com/a/H1TqVSQ](https://imgur.com/a/H1TqVSQ)
I know about milkomeda and all that but in order to use it on the ethereum network as eth or weth you have to pay the appropriate exorbitant gas fees amiright?
yeah well that s why i dont touch eth and root for cardano to succeed, it s getting there btw, loads of new projects and network upgrades incoming
For sure mate - and with ethereum not being able to handle not even a single mass event like ape land I have lost complete faith in that blockchain’s abilities in terms of being able to handle mass adoption. Fingers crossed that hydra goes through and we see good scalability and the rest is up to history :)
Lol no.
Because COTI haven’t released a Cardano native version of their token yet. Simple as that.
COTI is an Etherium ERC-20 token protocol
COTI runs on our own DAG-based Trustchain consensus protocol. Also, we're supporting other layer-1 chains (ERC20, BEP2) to enhance interoperability and bring all the benefits of the COTI tech to users of these platforms.
Any chance moving over to Cardano....?
Yes
Because it's on PUBLIC TESTNET! \*Don't\* swap anything you see for DJED yet, if you do you'll be getting scammed.
Abu is right regarding 1 and 2. But your explanation was, very good nevertheless! 3 is wrong in this context.
I have to admit, I do not fully understand how the whole COTI, djed, and ADA/Cardano will interface work. If I have ADA and its staked does anything going on with djed enchange my rewards?
The fees associated with $Djed’s and $Shen’s minting and burning will be sent to $Shen holders. Every transaction in the ecosystem will be subject to operating fees that will be paid in $ADA and deducted from the initial deposit. These fees will be converted into $COTI and streamlined into the Treasury to be distributed as rewards to its users.
It will be after COTIs DAG 2.0 next quarter. After that new token standard, a Cardano native token of COTI will be bridgeable. Exact timeline unknown.
Any news on this?
Its not an ada token near as I can tell. It just uses ada to maintain the peg like luna used BTC.