Web3 Infra Provider COTI Launches $10M V2 Airdrop Campaign by the End of March
In Brief
COTI will distribute 40 million COTI V2 tokens, valued at roughly $10 million, to its Native COTI and ERC-20 COTI holders to reward users for their ongoing support.
Web3 infrastructure provider COTI (COTI) introduced a new community rewards program. As part of this initiative, the platform will distribute up to 40 million COTI V2 tokens, valued at roughly $10 million, to its Native COTI and ERC-20 COTI holders to reward users for their ongoing support.
COTI is a confidentiality layer on the Ethereum blockchain. Using the cryptographic protocol Garbled Circuits and secured by Ethereum it presents a compliant solution for safeguarding data on the public blockchain, serving various use cases such as confidential transactions, AI, decentralized finance (DeFi), and decentralized identification, among others.
The COTI V2 Airdrop Campaign will commence on Monday, March 25th, 2024. The distribution of COTI V2 tokens is planned for Q4 2024, shortly following the COTI V2 Token Generation Event (TGE). All Treasury participants will automatically qualify for the airdrop of 40 million tokens, regardless of whether they hold Native COTI or ERC-20 COTI tokens.
The airdrop is supplementary to all annual percentage yield (APY) rewards for token holders. Users only need to maintain a deposit in the Treasury to be eligible, with those who deposited before February 28th, 2024, receiving an additional bonus in recognition of the COTI team’s appreciation for their early support.
Airdrop rewards will be calculated for each participant based on several factors, including the current APY of their deposit, other deposit settings such as multiplier and locking period, and the duration and activity level within the Treasury.
COTI Treasury Reward Participation
The COTI Treasury was launched in 2022, serving as a platform for individuals interested in depositing COTI and earning APY through COTI and gCOTI. Since then, members have deposited over 500 million tokens into the Treasury. Depositors are attracted to the Treasury because its rewards system allows members to tailor their potential APY by adjusting parameters such as deposit amount, multiplier, lock period, and APY boost. To further enhance rewards, the COTI team intends to introduce longer lock periods of 180, 270, and 360 days starting March 25.
The new airdrop campaign marks another milestone for COTI as it allows its COTI ERC-20 token holders within the community who do not possess VIPER wallets to participate in Treasury rewards, including APY and the airdrop campaign, for the first time.
Individuals who have yet to deposit in the Treasury can connect a VIPER or Metamask Wallet and configure a deposit by specifying the amount, multiplier, lock period, and APY boost. Participants already with deposits set up in the Treasury are not required to take any further action but can extend the locking period of their deposit to earn additional rewards.
The COTI V2 Airdrop Campaign signifies a pivotal step towards fostering community engagement and gratitude while enhancing the Web3 ecosystem.
Disclaimer
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
