ERC20 COTI
Last updated
Last updated
If you want to add ERC20 COTI to an Ethereum wallet use the following information when adding it as a custom token:
Ticker: COTI
Contract: 0xDDB3422497E61e13543BeA06989C0789117555c5
Decimals: 18
The smart contract behind COTI bridge is currently not able to burn tokens, therefore once a native token is sent to the bridge, new ERC20 tokens are created. If these ERC20 tokens are ever sent back to the bridge, releasing the original amount of native tokens, and are then sent again by someone else, additional ERC20 tokens will be created, while the previous ERC20 tokens will remain locked in the dedicated address. As a result, the “Max/Total Supply” in Etherscan, which is the total amount of ERC20 COTI tokens created, represents the volume of the bridge rather than the actual supply or circulation.
While the current bridge structure is very secure, it is not ideal. Moving forward, the bridge will operate with a fixed reserve amount and any tokens exceeding the reserve amount will be burnt.