The open-source payment infrastructure program COTI has released its roadmap for 2022 as it aims to position itself as a go-to Layer 1 for payments.
COTI’s 2022 Roadmap
In a press release shared with CryptoPotato, COTI revealed that it is building a Layer 1 with its DAG-based Trustchain. It also plans to build the necessary tools required for mass adoption by providing wallets, banking solutions, processing tools, etc.
With the help of the MultiDAG 2.0 layer, COTI intends to issue more tokens on top of its Trustchain enabling developers, merchants, and enterprises to issue tokens with features such as scalability, high throughput, cost-effectiveness for payments like COTI Pay Business.
Expanding COTI from a one coin network to a Layer 1 with multiple tokens on top of it to be leveraged by consumers and merchants around the world remains the main goal behind the move. Development of MultiDAG 2.0 is currently underway and will be launched on mainnet in Q3. In the following quarter, COTI seeks to offer its enterprise clients to use of the MultiDAG technology for the purpose of stablecoins and other digital currencies issuance issue stablecoins.
COTI and Cardano
COTI also revealed that it will launch Cardano’s first-ever stablecoin Djed on testnet in Q1. After an external security audit is performed and the results are received, it will be deployed to the mainnet, which is slated for Q2. The focus will then be shifted to managing Djed’s liquidity bootstrap and ecosystem implementations.
For the uninitiated, COTI had entered into several strategic partnerships across prominent DeFi and NFT protocols, such as SundaeSwap, Aada Finance, Indigo, DOEX, AdaSwap, ErgoDEX, etc. The main objective behind these integrations is to ensure the stablecoin is adequately utilized once launched while simultaneously creating an increased use-case for it across multiple platforms.
While talking about Djed’s potential, the CEO and founder of COTI Network, Shahaf Bar-Geffen had stated in an podcast with CryptoPotato that –
“Djed has already signed partnerships with more than 10 decentralized exchanges, among the top 10 on Cardano. We believe that DJED will be for the Cardano ecosystem what USDC is for the Ethereum DeFi, meaning the token that everybody uses to build their trading pairs with.”