COTI in Our Corner: Revuto Partners with COTI to Bring Djed Stablecoin to the Platform
At Revuto, we’re always keen to link up with like-minded businesses. So it gives us great pleasure to announce that our latest partnership is with COTI, a layer 1 fintech on the blockchain ecosystem, specifically designed for payments.
Payment Powerhouses Unite
COTI has worked with a succession of well-known merchants and its multi-chain architecture and finance-on-a-blockchain framework has struck a chord with crypto users the world over.
Built on a highly scalable native network (the multi-DAG based Trustchain), COTI is perhaps most well-known for its user and merchant-facing payment tools such as COTI Pay, which has the ability to process payments using crypto, stablecoins and credit cards. Excitingly, it’s also the issuer of Cardano’s formal algorithmic stablecoin Djed.
Like Revuto, COTI has grown at a phenomenal speed and it’s showing no signs of slowing down. Later this year, the platform will define a new token standard based on its native $COTI token, similar to how the ERC20 standard relates to $ETH. By allowing users to utilize such tokens on its own Trustchain protocol, COTI aims to offer benefits such as low transaction fees, fast confirmations, and robust security to a wider selection of customers.
As well as building what it calls “the ultimate Layer 1 for payment,” COTI is keen to help its enterprise clients issue their very own digital currencies and stablecoins using its MultiDAG technology. This so-called Coin As a Service plan is incredibly ambitious, but it’s one that could seriously change the face of the payment world forever. We have every faith in COTI’s team and vision, and that’s why we’re joining forces.
There are a number of payment-focused ventures in the Cardano galaxy, but COTI and Revuto are two of the biggest. As such, our latest partnership makes perfect sense for both parties, as well as for the end users we’re aiming to serve. Great things will happen when our respective teams get around the same table.
Get Ready for Djed
Thanks to our alliance with COTI, the aforementioned Djed stablecoin is coming to Revuto. The crypto-backed algorithmic stablecoin, which will be widely integrated by DEXs, wallets and dApps on top of Cardano, is the first token to use formal verification to completely eliminate price volatility. Developed by IOG, Djed will be a godsend for defi users, the same way Tether (USDT) and USD Coin (USDC) have been within the Ethereum ecosystem.
With that being said, we know that our vast community of Revutonians are going to want to interact with Djed. Soon, users of our subscription management platform will have the chance to purchase both Djed and our native REVU tokens using fiat, thanks to COTI and fiat-to-crypto gateway Banxa. What’s more, it will be possible to:
• top-up the Revuto Debit Card with Djed and pay for your subscriptions
• stake Djed to earn APR (we’ll calculate the percentage according to the business model and protocol we’ll be using for staked Djed)
• stake Djed to farm other Cardano-native tokens
• stake Djed in the liquidity pool for Revuto micro-lending to earn monthly yield (the credit scoring algorithm created by our CTO Marko Rukonic will determine the APY)
• lock REVU as collateral to receive Djed; the ratio between locked REVU and received Djed will be built into the smart contract and calculated according to the REVU price volatility and general market conditions.
Impactful crypto-based payment solutions will be one of the pillars of the overall ecosystem moving forwards. As far as subscriptions and defi is concerned, we have ambitions to be number one. COTI, Djed and Cardano, meanwhile, will go from strength to strength. We welcome you to join us on this journey!
In case you missed:
📣 Revuto Tech Talks 9: Revuto Behind the Scenes — Watch now
🚀 REVU listing: Trading is live on KuCoin and Gate.io 🚀
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🎥 Revuto Deep Dive — Watch the video
❣️ Revuto on Entrepreneur — Read more about unwanted subscription charges
📽 Our first ever Live AMA — Watch on YouTube
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📻 UK Radio campaign — Listen to our slot
💫 Unique Revuto NFTs — See all NFTs
🎥 Our co-founder Jos on Cardano360 — Tune in at 38:20
🎂 Our Token Generation Event (TGE) aka REVU Token birthday — See the event
🎙 Cardano live podcast with our co-founder Jos — Listen to the podcast
🧗♀️ Our first teambuilding — See our TB video
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