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Bitrue x COTI AMA
Recorded: June 10, 2025 Duration: 0:34:09Space Recording
Short Summary
Coty V2 is making waves in the crypto space with its innovative privacy solutions, strategic partnerships, and exciting new applications. The project emphasizes the importance of confidentiality in blockchain technology while offering attractive yield opportunities through its Treasury.
Full Transcription
Music Thank you. Thank you. Thank you. Thank you. Hey guys and welcome to another edition of BitTrue's AMA Sessions.
Welcome to another edition of Bidtrue's AMA Sessions. I'm Sean, your host for today.
I'm Sean, your host for today.
And today we're very pleased to have a project with us today, Coty, which is known as the
fastest confidential layer for Ethereum. And we have Brad Goodwin from Coty to speak with
us about some of the things that they are doing as well as answer some of our questions in the
next hour. So let's welcome Koti to our space today and let's welcome Brett. Hey Brett how's
it going? Hey very well thank you. How are you? Thanks for having me. Yeah I'm good. Yeah so I
think before we begin could you begin by briefly introducing yourself to our listeners first?
Yeah of course.
So for those in the Coty community,
they will be quite familiar with me.
For those who don't know me,
so my background is Web2.
So a background in management consultancy and then moving into software
at Adobe and strategic business
before moving over to Web3 and working with Coty.
What's quite unique about my path to working with Coty is that I was actually a community member
for about four years. And for those in Coty's community, we tend to get given quite a lot of
chances, I guess, quite a lot of exposure. And so over the course of that time,
I slowly became more integrated with the team
and four years forward, I have a very rare and unique path
whereby I've gone from community member
into the core team and from Web2 into Web3.
So that's a little bit about me.
Well, I think that's awesome.
And thanks for sharing a little bit
about how you got involved with
the Cote community. I think my next question would then be
diving straight into what Cote is about. So I think the first question I would then ask is why is privacy such a big deal when it comes to blockchain technology and how does Cote
when it comes to blockchain technology and how does Cotea help with that?
Yeah, of course.
So I think when it comes to why privacy is so important in blockchain technology,
we don't really need to look further than its predecessor in Web2
and traditional economies, traditional societies and consumer preferences today.
So I think the easiest way to break it down is if we
think about it from a consumer lens and we think about it from an enterprise lens. So if you're a
consumer in traditional economies and traditional societies, when you vote in a government election,
that's confidential. When you spend your money, what you bought, how much of it you bought and how much you spent is confidential.
Your bank balance is confidential. Your internet search history is confidential.
How much money you earn from your job is confidential.
When you look at it from an enterprise perspective, their customer base is confidential. How much of every product they send to each customer is confidential and
how much each customer pays for their products is confidential. If you move away from like a
transactional setting for the enterprise, then you have employee data. And within employee data is
addresses. There are HR cases. There is a previous record of employment and so much more that all needs to stay confidential
as an enterprise if you want to pay people via your payroll that needs to be confidential as well
so from both lenses a consumer lens and an enterprise lens privacy is what grants enterprises
competitive advantage um i.e their competitors don't know who their customer base is
and what their revenue streams consist of.
And from a consumer perspective,
it gives us the freedoms and the autonomy to live our life.
So privacy is a basic human right.
So when we talk about privacy and blockchain,
for most people involved in Web3, the consensus is, right, well, how do we bridge the consumers of the larger world economy?
And how do we bridge traditional enterprise into Web3?
And for us, we see privacy as the major unlock to do that.
So in terms of how we help, we can get onto it,
but essentially we are an Ethereum layer two,
but we've built for two years towards being privacy centric
and that allows developers, projects, enterprise
to have programmable privacy so that we can uphold
the experiences we're all used to in our daily lives
in a blockchain world.
Hello?
Hello?
Oh, hey, yeah.
All right.
Yeah.
So I think the next question I would then ask is something about garbled circuits.
I read a little bit about it.
So what are garbled circuits and
why are they important for keeping things private on Koti? Sure. So for those who are familiar with
privacy technology, there's three common solutions. They are trusted execution
environments, fully homomorphic encryption, and then maybe the most popular one is zero knowledge, right?
Or ZK as it's abbreviated to.
Garbled circuits is like the new kid on the block, right?
Now, as a concept, garbled circuits have been around and been, you know,
cryptographically viable and robust since the 1980s.
But we partnered with a company called Soda Labs
who have actually brought garbled circuits
onto the blockchain for the very first time.
So garbled circuits is the new privacy solution
relative to the three that currently operate in the market.
Now, in terms of how garbled circuits work,
I won't go into the weeds, I won't go into the details, but the long and short of it is it allows you to undertake operations, process, logic or questions on encrypted data.
consumers, i.e. how they spend, what they're buying, or at an enterprise level, data they
need to store can be confidential. Or even if we look at federated learning and AI models,
they can all work on encrypted data. So no sensitive data is ever exposed. Garbled circuits
are a way of running analysis, process on top of the data
while it stayed encrypted, i.e. bringing privacy to pretty much every use case we have in Web3.
So it's really a meta narrative as opposed to a single point solution.
Right, that's really cool and I think it's a really interesting way to get things done in
crypto. So how does Cotev2 then help me, for example, keep my personal transactions or my
personal data private? Sure. So it really depends on the use case. So as I said,
we consider it to be a meta-narrative that underpins the wider, I guess, all functions
that exist in Web3.
So rather than, I guess, walking through how it keeps them private, it's probably more
helpful to talk about some of the use cases.
So with that, we're currently partnered with MyEtherWallet, right? So that will focus specifically on transactions, transaction amounts, token types, and other
data that is transmitted during a transaction.
And that will be done, I guess, our work with MyEtherWallet serves to make those experiences
private on a public blockchain, which is normal, right?
So when you think about Web2,
nobody else knows the contents of your bank account.
Nobody else knows how you spent your money.
So that's like one example.
Another good use case is say in DeFi.
So you may or may not have heard
of a decentralized exchange called Privex.
They have recently launched on Koti, i believe it was last week and they are
a perpetual dex and if you use privex you will essentially have private transactions like token
swaps you will also be able to deploy private trading strategies and you'll also be protected
from front running so typically when you're in the DeFi arena and you're undertaking
token swaps, bots and like bad actors can see the transaction or swap you're going to make
and they can basically sandwich attack it such that they drive a token value up and then sell it
and kind of you get burned but they make more money. So Privex are an awesome example of why
privacy is important in, in DeFi.
And I would strongly suggest that people check them out. And then I guess maybe one other example
is, um, like DAOs, um, and, uh, governance proposals. So we work with, um, Syncra who
will essentially allow anybody, anybody to vote confidentially, both choosing how they vote to be confidential, but also how much
voting power they have. So your token holdings, for example, would be private. So there's three
use cases there, but it really does extend to, like I say, pretty much everything.
Right, that's really cool, and a really good example of really good example of how it can be practically applied,
especially when you mention things like sandwich attack.
I think that's something that is a very real problem in crypto.
So I think my next question would then be about the speed of Koti.
So is Koti V2 faster than other blockchains and how fast are the transactions on Koti?
Sure.
So, look, I mean, first off, we are an Ethereum layer two, right?
And the privacy is, and I want to stress this, the privacy is, it's opt-in and it's
composable, right?
We don't mandate privacy.
So I guess there's two different things here.
The first is if you're doing a general purpose kind of application or transfer,
then on Koti without privacy, as a layer two, it's super fast and it's super cheap,
as most layer twos on Ethereum are. When it comes to privacy, we need a like for like comparison.
So you can't compare Koti with something like ZK, for example, because
the functionality of garbled circuits is significantly, I mean, significantly, significantly
broader than what you can do with ZK. But if we take, you know, the privacy tools that are,
have similar functionality levels and are decentralized by nature, then we can look at
something like Zama,
which is probably the closest alternative to Coty
and Coty's garbled circuits.
In that scenario,
Coty are between one and 3000 times faster
to compute over encrypted data.
And it's also 250 times lighter.
Now the lighter piece is super important
because that's how we scale to consumer applications
and consumer devices.
So it needs to be so computationally non-intensive
that you can run this confidentiality tech
on a mobile phone,
and because it's so lightweight, we can do that.
So in answer to your question,
as a general purpose layer two, we're very fast and we're very cheap.
If you want to talk about privacy, we are exceptionally faster and exceptionally lighter than what currently exists.
Well, that's really awesome and a very interesting way to ensure that, you know, Koti is faster than other blockchains. So I think my next question would then be about old Koti tokens
and how to port them over and stuff like that
when it comes to the V2 version.
So I think the question I made in people's mind is do they need to do anything with their old Koti tokens now that the V2 version is live?
So it depends.
So there's two types of what you can consider old Koti tokens.
The first is Koti's ERC20 token and then you have Koti's V1 token.
If you have Koti ERC20, then you don't need to do
anything. These tokens will continue and will be unaffected. If you have KOTI V1, i.e. native KOTI,
back in the days where KOTI were operating as a direct decilic graph and were focused on
enterprise-grade payments, then those tokens, where Coty V1 native tokens need to be upgraded.
Now, if you haven't seen this,
I think we've tried to have a full-on assault
to make sure everybody knows how to do this,
but you can go into our Telegram,
you can go into our Discord,
you can go to Coty's YouTube channel
and you can check out our Medium articles.
You need to do an upgrade.
And to do that upgrade, you will need to submit a MetaMask wallet that will allow us to facilitate your token upgrade.
Now, the tutorial is like four steps.
It's super easy.
But please do check out our Medium articles, our YouTube account, our Telegram and Discord and fulfill that update.
Right, that's super awesome. So my next question would then be about the actual utility of Koti
v2. So what are some things that I can actually do with Koti v2? Are there any apps or tools that are currently available that i can start with
yeah of course um so i previously mentioned privex and i would strongly suggest that people
um check that out it's a great place to explore what privacy can do in a trading setting um
and you know i'm obviously biased but i'm a firm believer that if you try the
trading experience in a fully private way, I don't think you'll be able to look back.
So I would definitely suggest checking out Privex. We also have Banco, who are an awesome,
awesome Dex. One of the really fun functionalities that they have, and I mean, beyond being fun,
is incredibly useful, is that you can create trading strategies and you can back test them over a period of months.
And you can see, is that strategy profitable? Is it not? Is that something that I want to deploy going forward?
So it's another DeFi exchange that I would suggest people check out.
that I would suggest people check out.
Beyond that, there's lots of, for people in the arts,
you can use Crafter.
Crafter is a kind of low-code, no-code solution
for minting NFTs on the Koti blockchain.
We also have games like Big Money.
We have AI agents like Koti agents.
And we also have a platform called stay.koti.io. And that one's really fun.
So if you're a listener, and perhaps you don't have a computer science degree,
you don't have experience building Web3 applications, but you do have an idea,
check out stay.koti.io. It's essentially prompt engineering, and it will allow you to type in the applications
that you want to create and bring your idea to life in a no-code environment. Now, you might not
get all the way there. You might get like 70% of the way there, but we have a dedicated team that
can support you to make that idea a fully deployed application on Koti. And we can also have you apply for grants
to fulfill those as well. So plenty of things you can do on Koti. Nice. And with that being said,
how can actual developers start building on Koti V2? And is it something that's easily
building on Koti V2?
And is it something that's easily accessible to them?
Is it easy to learn?
Yeah, I mean, so first off, we are an EVM compatible chain,
which means that if you're a developer that is familiar building in Solidity,
then you can either build on Koti pretty easily,
or if you have an existing project or application,
you can lift and shift it quite easily and just port that over.
Now, the additional complexity lies in bringing in that programmable privacy.
Right. And that could exist in many different ways.
So if you were to visit Koti.io and have a look through our documentation, You can see quite easily how you can upgrade
with privacy using our docs.
Anecdotally, from the like 60 plus partners
that we currently have, it's very easy to use.
It's very informative and building on Koti
is pretty straightforward.
And then if you're a developer,
but you're struggling for ideas, you can still go to stay.koti.io and you'll see ideas that have been prompted by the community.
And that will give you a good head start on, I guess, private applications that you could start to build out.
Right. And I think you mentioned earlier support that Koti V2 can provide.
So what are some big partners that are currently supporting Koti V2 can provide. So what are some big partners
that are currently supporting Coti V2 as well?
Sure.
So as I said,
we have about 60 plus partners
at the moment.
In terms of big partners,
I would say,
so right now we have a few big pieces so first up is the european central
bank um so you know some people like cbdc's some people don't um and you know it's it's a subjective
matter and it will always divide people what we're really keen on doing is making sure they're the
best versions of themselves so we're working with with the European Central Bank on how do we bring confidentiality into the play
so that consumers are well protected.
And so that's one major partner that we're supporting.
Second to that, we are also members
of the enterprise Ethereum Alliance.
I believe I mentioned earlier
that we are partnered with MyEtherWallet,
which is the, I think the first wallet in the Ethereum space. In terms of RWA, we are partnered
with Plume and we're also partnered with the compliance platform Anchain, who are kind of
leaders in that compliance and security space. And then we're also partnered with Axeler, Axeler and Hyperlane.
So two cross-chain providers, which is super important for Koti.
So one thing I haven't mentioned about Koti, but people would probably like to know,
is that we don't want to hold garbled circuits back and kind of not share it with wider Web3.
We are genuinely passionate about bringing privacy to the wider economy.
So with that, through partnerships with Axeler and Hyperlane, those cross-chain providers,
we can extend privacy to about 75 different blockchains as of today.
And so they're a very, very important big partner for us.
Right. And for someone like myself, how can I begin to earn rewards or benefits
by when I get involved with the Coti V2 network?
Sure. So first up will be Treasury. So Coti had a long standing Treasury. We now have Treasury B2, which is on Coty's mainnet. And you can stake Coty there in return for rewards. So I think the last time I looked at it, the maximum APY was about 55%. That depends largely on your risk appetite.
That depends largely on your risk appetite.
So if you want to use multipliers and introduce liquidation prices, you can get up towards
that 55% max APY, but it does come with risk.
Or you can choose to just stake your tokens in a locked or unlocked capacity and earn
rewards.
Second to that, we've also had KOTI v2 listed on a few exchanges.
That includes Bitrue.
And I think Bitrue have a KOTI-Bitrue pool right now that's rewarding, I think, 70% APY over a 15-day period.
So that's really exciting.
And then we also have upcoming reward campaigns with Privex, the perpetual dex that I mentioned, and also Mexi.
Now, further to that, I think I mentioned stay.koti.io.
If you want to build or you want to create, then you can apply for grants with Koti,
and we're happy to support you on that journey as you fulfill your ideas or create content that
you think would benefit our ecosystem. So plenty of different ways.
And then just generally, as we're budding new ecosystem, there are a lot of different
projects popping up, either through launch pads or whatnot. So there will be plenty of
airdrop opportunities for people who like to explore that.
build up.
That's awesome.
That's awesome. And yes, we do have a
And yes, we do have a campaign currently on BitTrue, and that's pinned right now in this
AMA.
So if you're interested in getting involved with Koti, this is a great way to start.
Yeah.
So just check it out in the pinned tweet that's been pinned here. So my next question would then be about how easy it is to access Koti.
So is there a mobile wallet or an easy way for beginners to begin to use Koti V2 in a manner that it's safe?
Yeah, I think the easiest way is that, I mean, we are integrated with MetaMask, which
is probably the most adopted wallet out there.
So if you have a MetaMask wallet, you can add the Koti network to your MetaMask wallet.
We've done that integration. And that has a very easy and simple interface for the new Web3 consumers.
We've also announced that the Treasury is available on mobile now, I believe.
So you can manage your deposits on the go on your phone.
And generally speaking, the Cote Treasury is pretty intuitive.
So you should have a pretty easy time working with the Treasury.
And if you don't, we always have our Telegram channels open.
But mobile access to ViteMetaMask and to the Treasury is very easy.
Right, that's awesome.
And I think my next question would then be about decision making for Cotev2. So how can anyone looking to get involved with Cotev2
participate in the future of decision making?
Yeah, so I think there's three ways.
Yeah, two, three ways.
So the first is G-Cotev2.
So if you haven't heard of G-Cotev2,
it's probably quite self-explanatory.
It's the governance token of Cotev2, G-COTI, it's probably quite self-explanatory. It's the governance token of COTI, G-COTI. Now that will allow you to vote on proposals and kind of help steer the. And whilst you're not voting on proposals,
it is a significant APY boost in the Treasury. So very much worth having. Beyond that,
I think generally speaking, you can ask our community, we do tend to put the community
at the heart of what we do. Not every decision that a Web3 project makes will be the preferred one or be favorable and there might
be you know small elements that we've overlooked and we always listen to the community's feedback
we have very like defined routes to take feedback in telegram or discord through to decision makers
and strategists at coty and i think the community will testify that you know we have changed dance and
we do hear feedback so literally voice your opinion and you'll be participating in the future
decision making of Coty and then the final piece again is stay.coty.io not with regard to building
but there is a section where you can upload ideas if If your ideas are up, kind of upvoted to the higher end of the ideas,
then developers will pick them up.
They will start to build out those applications.
So if there's an application you want to see built on Koti,
write it as an idea in today.koti.io
and a developer will most likely pick it up and start building it for you.
Well, that's really awesome.
So I think now I'm at the final question for you guys,
and that is what's next for Koti?
Are there any exciting features or updates that will be coming soon
that our community can be excited about?
Okay, so I, yeah, I can't spread alpha for two reasons one i value my job and two
uh i think marketing would take my head but what i would say is um i think i think recent history
is an incredible predictor of the future um and i think that's a pretty common saying that history repeats itself.
In the last few months, Koti have made some huge strides forward, particularly in tokenization,
in AI and in DeFi. So if we look at just the last few months, Koti became a founding member
of the Saudi Arabia AI and blockchain center. That is to serve in the same capacity as like Dubai's blockchain center.
We've also hosted an RWA summit at Token 2049.
And that was a huge event, a trillion dollars of assets in the room,
finance ministers from across Europe, heads of state across Africa, royalty in the Middle East,
policy makers, practitioners, like just the very, very who's who of tokenization.
We also became a partner for the European Central Bank, as I said.
So we'll be focusing on conditional payments and cross-border settlement, working with them as a pioneer partner.
And I think even just two weeks ago, we were in New York with Mayor Eric Adams at the Digital
Asset Summit roundtable on what was a select guest list. So we're making big strides forward.
I think it would be fair to say Koty's,
I guess Koty's credentials have gone up a fair few notches and I'm excited for what's coming,
but I can't share too much.
In terms of features,
I think we will go live
with a new decentralized node operating system.
That's something that gives,
it gives our community the chance to run their own node and to actively partake in the network.
And of course, we'll be bringing on new partners.
So some of those will be kind of drawing out private standards in new use cases.
So we're looking forward to that.
But no alpha, I'm afraid.
But yeah, a couple of things to look forward to.
Well, thanks for sharing as much as you can.
And although there's no alpha, there is still an ongoing giveaway.
Sorry, not giveaway.
There's an ongoing staking campaign that we currently have on BitTrue.
So be sure to check it out in the pinned tweet.
All the details are there.
And I think for those of you who feel like you guys want to get involved with Cool TV too and work with the project, be sure to check out the campaign for a way to get in today.
So thanks for joining us today.
And I think it's been a great chat.
And I think you shared a lot about what Koti is doing.
And I'm really excited for you guys
and what everything that you guys have planned.
Well, all the best with everything that you guys are building.
And I hope to speak with you guys again soon.
Thanks, Brett.
Absolutely.
Thanks for having us.
Host
Bitrue
from
Bitrue Coin
