Proposal: Add $COTI as a collateral asset on CREAM Ethereum

Proposal
#1

Hi CREAM community!

This is a proposal to request the addition of $COTI to CREAM as a collateral asset.

COTI is a fully encompassing “Finance on the blockchain” ecosystem, specifically designed to meet the challenges of both centralized finance (fees, latency, global inclusion and risk) and Decentralized Finance DeFi (fees, clogging and complexity) by introducing a new type of DAG based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.

For

$COTI token is added to CREAM as a collateral asset.

Against

$COTI token is not added.

Motivation
Strong demand for holding this token makes it an excellent choice as a collateral asset.
– CREAM Finance would become the first protocol to allow the collateral use of $COTI.
– Currently almost 10,000 holders just in ERC20, in addition to more than 10,000 native token holders, circulating supply is 670M of 2,000M total, market cap is $230M.
– Primarily traded on Binance, in addition to 16 other exchanges, large daily trading volume of nearly $150M (out of which $100M just in Binance).

Key highlights on COTI:

  1. COTI has already been adopted by close to 200 merchants and big players: Dafabet, Kindred Group, Unibet, Microgaming, Jet Bingo, 10bet and many more.
  2. The monthly volume of merchant processing has already reached over $23.1M USD in March 2021 and it’s growing.
  3. COTI has partnered with Cardano to offer an ADA payment processing solution for merchants, AdaPay, which was recently launched on Shelley Mainnet
  4. cFUND, the Cardano ecosystem venture fund made its first VC investment in COTI
  5. COTI has partnered with Simplex, a principle partner of VISA, to allow COTI users access to bank accounts and debit cards to spend funds in crypto in physical or online stores
  6. COTI developed the Crypto Volatility Index (CVI) a revolutionary and first-of-its-kind decentralized Crypto Volatility Index for the crypto market. The CVI allows users to hedge themselves against market volatility and impermanent loss.

$COTI token address is 0xddb3422497e61e13543bea06989c0789117555c5 on the Ethereum mainnet.

#2

$COTI would be an interesting addition to the available list of assets. I’ve been following their developments for a long time now and feel, it has good chance of being a major player in crypto space. Hope it gets the support it deserves.

#3

Additional motivation for CREAM community: COTI has future plans to add CREAM as a payment method in its payment solutions, along with other possible cooperations.