Post #3229
882
COTI Operational Notice: V2 to ERC20 Conversion
Operational notice: over the coming hours, most of the COTI V2 tokens in the Genesis wallet will be converted to ERC20 through the COTI bridge, which will be returned to the same ETH address.
Why: ERC20 is where the majority of COTI’s liquidity, exchange listings, and integrations currently live, and we are working on a different strategy for how COTI is held across chains.
There is also a practical benefit many of you have been asking about for a long time: bridge limits. Those limits exist because of how supply has been split between the two rails. With the large majority of supply on ERC20, the total daily limit will increase from 7M to 70M, without any limitation on single wallets, as soon as the conversion completes.
What this changes for holders: nothing. Your balances are untouched, no swap or migration is required, and no new COTI is created. This is a conversion of existing foundation-held COTI between networks, not a new issuance, and does not change the tokenomics in place. All movements are visible on-chain and reconcile against this notice.
This change in how tokens are distributed across the two networks does not represent a change in our commitment to COTI V2 or the operation of the network. It is an operational and liquidity-management decision regarding where Foundation-held tokens are maintained.
For full transparency, the destination holding address will be published once the conversion completes. Some of the holdings may later move to cold-storage wallets; if and when that happens, those addresses will be published as well.
Operational notice: over the coming hours, most of the COTI V2 tokens in the Genesis wallet will be converted to ERC20 through the COTI bridge, which will be returned to the same ETH address.
Why: ERC20 is where the majority of COTI’s liquidity, exchange listings, and integrations currently live, and we are working on a different strategy for how COTI is held across chains.
There is also a practical benefit many of you have been asking about for a long time: bridge limits. Those limits exist because of how supply has been split between the two rails. With the large majority of supply on ERC20, the total daily limit will increase from 7M to 70M, without any limitation on single wallets, as soon as the conversion completes.
What this changes for holders: nothing. Your balances are untouched, no swap or migration is required, and no new COTI is created. This is a conversion of existing foundation-held COTI between networks, not a new issuance, and does not change the tokenomics in place. All movements are visible on-chain and reconcile against this notice.
This change in how tokens are distributed across the two networks does not represent a change in our commitment to COTI V2 or the operation of the network. It is an operational and liquidity-management decision regarding where Foundation-held tokens are maintained.
For full transparency, the destination holding address will be published once the conversion completes. Some of the holdings may later move to cold-storage wallets; if and when that happens, those addresses will be published as well.
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