COTI has announced that it intends to airdrop its new COTI V2 tokens worth over $10 million to holders of its previous tokens. This airdrop, slated for March 25th, 2024, is a token of appreciation to the COTI followership who have always been with the project from its humble beginnings.
COTI has rapidly become one of the most innovative decentralized web builders. Their key product is an Ethereum blockchain confidentiality layer using advanced cryptography enabling on-chain data privacy while maintaining Ethereum network safety and integrity.
This new development can change everything as far as applying real-world privacy needs to public blockchains is concerned. Called “garbled protocols”, this breakthrough could bring about entire new use cases and industries within Web3 ecosystem, ranging from DeFi to AI applications up and private auctions.
We’ve achieved a breakthrough in blockchain encryption to be used on the blockchain for the very first time! ?
This innovation promises to revolutionize privacy and security in the blockchain space.Dive into this ?to learn more
[1/8] pic.twitter.com/CwbKOEeZ1x— COTI Foundation (@COTInetwork) February 20, 2024
While coming up with revolutionary technology is just part of it-building a strong and resilient community around it poses yet another task by itself. This airdrop plays into that role.
All the holders of COTI’s native tokens and also for its ERC-20 version will be eligible. For the first time ever, this airdrop allows ERC-20 holders who don’t use COTI’s proprietary VIPER wallets to get in on the action.
As soon as the token is launched, there will be an actual distribution of 40 million COTI V2 tokens in Q4 2024. However, various factors will aid in deciding upon how much each user shall receive as rewards, for instance:
- APY from their current participation within COTI Treasury.
- Any multiple or locking periods held by deposits made to their Treasury.
- How long users have been iterating with the Treasury overall.
Therefore, users or supporters who have been loyal to COTI would receive some rewards. However, new enthusiasts can participate in this airdrop by deposits into the treasury account before the disbursement date, March 25th.
What you need to know about COTI
COTI’s Treasury program itself is an innovative way to incentivize community involvement. It was introduced in 2022 to allow holders to deposit tokens while earning a substantial APY. It was paid out both in gCOTI and another reward denominated in COTI itself. Potential rewards can be customized through fractional tokenization meaning users have control over what they desire based on deposit sizes (large or small), multipliers applied, lock timeframes adopted (shorter/longer) and APY boosts chosen.
The program has already affected the community as evidenced by the fact that more than 500 million COTI tokens have been deposited so far. The same depositors are now being awarded an additional benefit which is in the form of the COTI V2 airdrop, on top of what they usually get as their regular APY reward.
This move is likely to motivate its base community and in turn, attract new investors. Apart from this, this airdrop is likely to solidify users confidence in COTI and promote increasing adoption.
Conclusion
COTI announces a $10 million airdrop of new COTI V2 tokens to its community as a gesture of gratitude, setting a March 25th, 2024, distribution. This move highlights COTI’s innovative approach to on-chain privacy and community building and aims to reward long-standing supporters as well as attract new users.
