The decentralized finance (DeFi) protocol behind Cardano (ADA)’s new stablecoin says it has successfully updated its network.
According to recent information blog post This update by COTI Network, the scalable Layer 1 behind ADA’s upcoming stablecoin Djed, migrated the blockchain to a multi-token network and now supports the creation of private payment networks.
“The launch of the MultiDAG 2.0 protocol marks the complete transition of COTI from a single currency infrastructure to a multi-token network…
COTI is uniquely positioned to serve businesses and believes it can launch its own private payment network (PPN), including CMD issuance. [COTI MultiDAG] Issuing branded payment tokens, CMD branded loyalty tokens, etc. ”
COTI too Announcement User Fee Adjustments. According to the company, the deposit fee will be reduced by 50% and the withdrawal fee will change from a fixed price to a dynamic price, but the early withdrawal fee will remain the same.
Other fees mentioned include a fixed multiple fee applicable only to multiple deposits and a clearing fee of 1-5% applicable only to multiple deposits.
The new pricing model will go into effect on January 15th.
COTI says its transition will serve as a catalyst for widespread adoption of accepting cryptocurrencies as payment for goods and services.
“This launch represents a major step forward for the crypto industry and COTI as MultiDAG 2.0 will drive the growth of widespread adoption of crypto payments to businesses that have not yet adopted crypto payment solutions.”
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