Some time this week the COTI Treasury is moving to it's new home on MetaMask ad I am kind of dreading that bit.
This weekend I don't think I have many other choices left and need to buy more COTI. COTI will be an Ethereum L2 token some time next week with the new COTI Treasury on MetaMask. This tells me there will be an additional fee associated with staking and harvesting rewards.
I am not jumping across immediately and plan to stay in the existing Treasury and see how this all plays out first. They cannot shut down the existing treasury immediately and will take many months before the swap out from COTI to the new COTI V2 token happens. I an not enthralled with the prospect of moving over to Metamask even though it is a step forward which will bring a much higher value to the COTI token.
Humans generally do not like change and I guess I am one who likes stability and needs time to adapt and see first. Metamask and it's security is my biggest concern which was never an issue with the COTI Treasury up till now. My COTI investment has bee growing substantially over the last 3 years and the value is expected to be fairly large when we see the peak of this cycle. The more you have the more you tend to worry and this is me being overly cautious I guess.
This past week we saw news regarding MetaMask and targeted malware attacks on certain wallets which was never an issue with COTI up till now. The last time I had any dealings with MetaMask was during the Leo Cub days and I was happy not to have to be doing that again and now here I am going back.
The plan is still to reach and exceed 200K COTI staked before the end of this crypto cycle and it would have been great to have reached this goal before the move and eventual swap out. I am sure there will be loads of information out this week and I am hoping for alternative options. Many others feel the exact same way so at least I am not alone in my concerns. I am sure I will eventually submit and move over to MetaMask at some point only if I have to though. I just hope things are easy and straight forward like the COTI team say they will be as me and computers are not great together when it comes to doing new things.
COTI's market cap currently is around the $129 million mark which is extremely cheap for what privacy technology COTI is bringing to Ethereum and a whole host of other blockchains. I ca recall during the last cycle the highest valued Eth L2 token was valued at around $20 billion. What COTI has and what the other L2 tokens have is like night and day so COTI joining Ethereum was a smart choice.