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## I saw this vote as the blind leading the blind as the majority had no idea what the vote really entailed and in this case more is less. I wish I was surrounded by geniuses, but in crypto being like real life they are hard to find it seems.

So last night the first COTI Governance vote closed on whether to increase, maintain or decrease the current GCOTI APR Boosted levels. I noticed the sentiment had changed last week within the community and why thus far I have not bought any more COTI as I will need funds for GCOTI.

The results of the vote were actually quite close and even though I am disappointed it was also kind of expected. When you ask a community would you like to earn more you are going to get those that only see for now and not the consequences.

 
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[source](https://medium.com/cotinetwork/you-voted-and-decided-gcoti-apy-boost-is-growing-d9025778b599)

The next vote is by how much the GCOTI APR boost is increased by considering we are already at 800%. The options are 1000%. 1200%. 1400% and 1600% so I guess it will be 1600% then if we are going with the increase. This vote will happen between November 16th-19th.

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[source](https://twitter.com/CotiUnityNode/status/1723738292355547616/photo/1)

**Base APY is 3.19% currently so could drop to as low as 1.2% next week.**


The consequences are if you don't have GCOTI you are going to be earning considerably less as the base APR is now going to decrease. You win on the one but lose on the other and why I wanted it to remain the same. The fools didn't quite see it like that meaning to benefit fully you need 1/1 GCOTI with COTI staked. With my COTI stake at roughly 120K I am now seeking another 110K GCOTI which due to only airdropped GCOTI available it is not exactly plentiful so the prices will rise. maybe that was the whole idea to get more value for GCOTI otherwise it makes very little sense due to the low liquidity.


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If one does the numbers it becomes even more baffling why people voted the way they did. There is less than 10% of the GCOTI required to cover the COTI staked within the Treasury so that means that 90% of the COTI Stake will now be earning less due to the vote. Like I said you may win on one of your pooled stakes but the others will all drop in rewards being earned daily and possibly will balance out or earn less, but definitely not more. This is what happens when you have people who do not understand the figures involved and think more is more.

This is sustainable because the rewards will now be robbing from Peter to pay Paul but the reward pool has not grown in size. Those who have managed to gather or acquire more GCOTI by whatever means will be sitting pretty, but they are the minority. I honestly believe the community has no idea what they have just voted through and now they are going to learn a valuable lesson about greed. I blame the COTI team for not fully explaining the actions of the vote and the consequences that will follow.


Posted Using [InLeo Alpha](https://inleo.io/@cryptoandcoffee/greed-more-is-less-in-this-case)