Is coti layer 2?

Could you please clarify whether COTI is indeed a Layer 2 solution? There seems to be some discussion in the cryptocurrency community regarding this, and as a practitioner in this field, I'm interested in understanding the technical specifics. Does COTI utilize any form of off-chain scaling or second-layer protocols to enhance its scalability and throughput? If so, how does this affect the overall transaction speed and cost for users? Any insights you can provide would be greatly appreciated.