COTI has successfully completed its IEO and listing on KuCoin and reached its hard cap in line with high IEO demand. 5,623 users have become COTI coin holders out of the approximately 35,000 people that participated in the IEO.

We understand that some of our users experienced technical difficulties following the IEO, so we’d like to extend our sincere apologies for this inconvenience and provide an initial assessment of issues that emerged following the TGE and MainNet launch, including:

Network congestion due to the high volume of genesis transactions propagated to the COTI network during coin distribution. Although our tech team began distributing coins immediately following the IEO, it took longer than expected and was finalized for the last users 20 minutes before trading began on KuCoin.

The ‘send’ button in the COTI wallet wasn’t syncing properly for some users. This glitch was solved in less than an hour.

Account balances that weren’t visible on the front-end of the KuCoin wallet interface. Coins were actually transferred from the COTI wallet to the KuCoin wallet but weren’t visible. We alerted KuCoin and worked quickly to fix the bug.

Despite these hiccups, we are happy to say that everything is working properly now and that the IEO figures speak for themselves. COTI reached its $3m USD hard cap, and its trading volume hit $1M USD within 30 minutes of launching. The COTI coin price sprinted over 10 times the opening value twice and stalled at a peak appreciation of X18.

In the heels of the public MainNet launch, COTI is also thrilled to announce its partnership with Blue Cellular, a leading telecom company based in South Africa! This is the first of many partnership announcements to follow in the coming weeks. For the full details, read here.

As always, we’d like to thank our community for your ongoing support. For more updates, be sure to visit our Medium page and Telegram group.