Interview with CEO Shahaf Bar-Geffen
Shahaf Bar-Geffen is the CEO and founding father of COTI Community, a blockchain-based funds community.
Bar-Geffen has a wealthy background within the tech area, and, imagine it or not, again in 2016, he offered a media firm by the identify of Web3 to Mccan Erickson Group (IPG). He additionally based an organization known as Optimistic Cell – one of many first venues to promote on smartphones and an organization that was additionally acquired afterward.
His crypto ardour began in 2015 and have become much more severe when he based COTI in 2018. Since then, COTI had turn out to be a noteworthy participant within the area.
On this thrilling episode, we chat about what’s COTI, its shut relationship with Cardano, the CVI – which is the crypto model of the well-known VIX, and naturally the market sentiment and the latest developments – NFTs and the metaverse.
What’s COTI? The 2022 Version
First issues first, COTI is a layer-1 protocol that has its personal native chain. It’s optimized to do funds – extra exactly, consumer-merchant funds.
“Which means we’ve constructed every part from the grounds as much as particularly clear up the problems round funds.” – Based on Bar-geffen.
Speaking concerning the points that COTI stands to unravel, the world’s underbanked inhabitants got here to rise, and he argued that the at present current system is simply not minimize to deal with problems with this type. Centralization, costly transactions, lack of transparency – these are all simply a few of the challenges that COTI tackles, within the phrases of Bar-Geffen. He additionally defined a few of the technical variations between COTI Community and different layer one protocols resembling Ethereum.
Past all of the options that he defined, we additionally touched on COTI’s recently launched Treasury, which is an algorithmic and decentralized pool the place customers can deposit their COTI and be rewarded for his or her participation.
The pool will develop over time as a result of your complete ecosystem pays charges to Treasury – immediately or not directly. When somebody stakes COTI, they’re entitled to a share of the rising Treasury, offering one more use case and benefit for long-term holders of the cryptocurrency.
One other product by COTI’s staff is the CVI, which stands for the Crypto Volatility Index. Based on Bar-Geffen, the CVI tokens may be leveraged to hedge in opposition to one among DeFi’s most dreadful sinkholes – impermanent loss.
Cardano and Coti: Love Story
To those that are unaware, Cardano is on the brink of launch the DJED algorithmic stablecoin, and COTI Community would be the official issuer. Bar-Geffen revealed some fascinating particulars surrounding DJED and Coti’s involvement.
“DJED has already signed partnerships with greater than 10 decentralized exchanges, among the many high 10 on Cardano. We imagine that DJED will likely be for the Cardano ecosystem what USDC is for the Ethereum DeFi, that means the token that everyone makes use of to construct their buying and selling pairs with.”
We additionally talked about whether or not or not he feels the longer term will likely be multi-chain, and that’s precisely what Bar-Geffen expects. Nevertheless, he additionally stated that no person ought to fade Cardano as a result of they’re doing a little nice work.
“Some individuals wish to make enjoyable of Cardano and these individuals will likely be very incorrect. It’s because Cardano may be very robust in engineering – there are a whole bunch of engineers working there. They’ve revealed extra educational papers than everybody else. […] I additionally wish to remind those who Charles Hoskinson is a co-founder of Ethereum.”
He additionally argued that the simplest factor for Cardano would have been to construct “one more Ethereum knock-off.” They determined in opposition to it, and when “they really launch issues, they’re actually good.” Shahaf additionally believes that the ecosystem of Cardano will likely be “tremendous robust.”
NFTs As an Integral A part of the Metaverse
The podcast wouldn’t have been so fascinating if we didn’t discuss non-fungible tokens, the metaverse, and blockchain-based gaming.
Talking of the latest crypto developments, we additionally chatted about Vitalik Buterin’s inspiration to construct Ethereum, a part of which was the favored story of how his World of Warcraft character acquired nerfed, and he determined that it’s an unacceptable present of centralization.
COTI’s CEO is a proponent of play-to-earn, and he believes that this is among the greatest use instances for blockchain-based applied sciences. He additionally thinks that non-fungible tokens will play an integral function within the metaverse.
$30K Earlier than $100K
It’s price noting that Bar-Geffen can also be a accomplice in an organization known as Frequence that gives know-how for algorithmic buying and selling.
On the time when the podcast was recorded, he shared that he and the algorithm weren’t very optimistic on BTC’s short-term future and even anticipate Bitcoin to retest $30K earlier than reaching the $100K milestone that will likely be within the subsequent few years. Amongst all of the insights he shared, the professional additionally revealed that they’re very bullish on Bitcoin and your complete ecosystem in the long run.
To study the place COTI’s CEO thinks the business is headed, ensure that to observe your complete podcast.