COTI Launches an Ecosystem Growth Fund to Accelerate Privacy on Ethereum

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19 Jan 2024

Over the past few weeks, we have been gradually releasing details of COTI’s planned upgrade into a privacy-centric Ethereum L2. This includes amongst others the establishment of the COTI Foundation, the outline of COTI development roadmap, and plans to migrate the existing infrastructure to the new solution.
Demonstrating its commitment to growing the new ecosystem, the COTI Foundation is announcing an Ecosystem Growth Fund with a substantial allocation of 400M COTI tokens. This fund, valued at approximately $25 million will support projects focused on fostering the growth and success of the COTI ecosystem.

The COTI Ecosystem Growth Fund

Created to accelerate both the development and adoption of COTI V2, the COTI Ecosystem Growth Fund will actively seek out developers and startups to research, develop and build solutions within the new ecosystem.

Shahaf Bar-Geffen, CEO of COTI said:
“The COTI Ecosystem Growth Fund as presented by the COTI Foundation represents a monumental step forward in COTI’s evolution to a privacy-centric Ethereum L2. The creation of this fund by the COTI Foundation is integral in driving both the adoption of COTI V2 and the development of applications within the ecosystem”.

With a value of $25 million, the COTI Ecosystem Growth Fund is ready to begin engaging developers and forging strategic partnerships.

Introducing Soda Labs

First to be granted this funding is Soda Labs, a leading player in cryptographic Multi-Party Computation (MPC). Soda Labs will spearhead research efforts to expand practical applications for garbling protocols, ensuring a secure and scalable privacy network for COTI users.
Soda Labs was founded by Dr. Avishay Yanai and Dr. Meital Levy, accomplished industry leaders in the fields of cryptographic MPC protocols.

Dr. Avishay Yanai said:
“We have long championed the innovation behind garbled circuits in secure MPC, and with this vote of confidence from the COTI Foundation, we can continue building the privacy tools needed for the next generation of Web3.”

Looking to the Future

This strategic funding coincides with COTI’s transition to Ethereum Layer 2, reinforcing its commitment to privacy through garbled circuits. The combined efforts aim to create an end-to-end application, ensuring confidential transactions for clients of all sizes while adhering to regulatory requirements.
Soda Labs might be the first partner funded by the COTI Ecosystem Growth fund, but it certainly won’t be the last. Over the coming months, we will unveil further initiatives and strategic partnerships, as well as a developer’s grant program distributed amongst milestones, fostering a holistic growth strategy for the COTI V2 ecosystem.
Stay tuned for more updates and announcements about COTI V2.