Paying Attention To Detail

Four months ago I slipped up with this particular stake not noticing at the time I had the automatic extended lock period in place. What this means is when your stake becomes unlocked at the end of the staking period it automatically relocks and in this case for another 120 days. I have 4 different stakes pooled in the COTI Treasury and the other 3 were fine and this was just an oversight through not paying attention.

This was not part of the plan as I wanted to increase the staking period which would double the current APR being earned. A costly error that over that period of time see this stake earn an extra 600 COTI. This may seem like nothing considering COTI is at $0.08c so around a $50 mistake, but in the future this could easily be a $2k or more mistake.

I could have just cancelled the staking by paying a small fee and corrected the error, but that would have meant losing out on the loyalty bonus. This will happen when COTI becomes an Eth L2 token known as a COTI V2 token in Q4. No one knows how much the loyalty bonus will be worth and I guess anywhere between 5 and 15% which ultimately means by not unstaking this could be worth an extra 3K-9K COTI.

If I was not aware of this loyalty bonus it could have been a double error that could have cost me far more than just the 600 COTI and why staying informed is so important. Imagine not knowing and finding out you just tossed way 8K COTI through a lack of knowledge which will most likely be worth tens of thousands of dollars.

The good news is that this locking period comes to an end in 4 days time and have made sure that the extended lock period is disabled which will allow me to set this to the new adjusted APR which currently sits at 3.4% and will become a 6.81% APR. The current APR has risen slightly today which will most likely be the rewards or earnings from some of COTI's projects filtering through into the Treasury.

This is the one great thing about staking here is that those staking in the Treasury benefit from COTI's earnings. COTI is purchased off the exchanges and is then distributed into the Treasury via the APR. COTI is currently in development mode with over 400 smart contracts being developed in preparation for Q4 when COTI V2 goes live. How many fees will these contracts generate as those fees will all add to the overall APR which is great knowing we haven't even really started yet.

Posted Using InLeo Alpha