Coti unveils Coti v2 token airdrop worth $10 million for COTI holders, initiating on March 25. Coti v2 facilitates secure data transmission across Web3 apps on Ethereum.
Crypto enthusiasts, brace yourselves for an exciting development in the Ethereum ecosystem as Coti, a platform built on Ethereum, prepares to distribute $10 million worth of Coti v2 tokens through an airdrop to holders of its native Coti (COTI) token.
Designed as a privacy-focused layer-2 protocol on Ethereum, Coti v2 aims to facilitate secure transmission of sensitive data across Web3 applications.
In an effort to engage its community, Coti has unveiled a community rewards program, which involves the distribution of 40 million Coti v2 tokens to existing holders of both native and ERC-20 COTI tokens.
According to details shared with Cointelegraph, the Coti v2 airdrop initiative is set to kick off on March 25. However, distribution of the Coti v2 tokens will commence in the final quarter of 2024, following its token generation event.
Notably, eligibility for the airdrop extends beyond current COTI tokenholders to include all treasury participants. Additionally, Coti has announced that the airdrop will complement existing annual percentage yield rewards for tokenholders, with a special bonus for those who deposited funds before February 28, 2024, as a token of appreciation for their early support.
With Coti's treasury currently valued at approximately $98.7 million, rewards will be allocated based on participants' level of engagement within the ecosystem. Coti anticipates that the launch of Coti v2 will unlock a range of new use cases for the Web3 economy, particularly in terms of confidentiality.
In a bid to further incentivize participation, Coti intends to introduce extended rewards through longer lock periods of 180, 270, and 360 days, starting March 25.
January 2024 saw the commencement of the airdrop season, with various protocols collectively offering $700 million in token airdrops within a week.
As previously highlighted by Cointelegraph, prominent protocols such as AltLayer, Dymension, and Jupiter extended rewards to their users as part of this trend.
For crypto enthusiasts eager to capitalize on token airdrops, thorough research into prospective projects is strongly advised. Additionally, investors should remain vigilant against fraudulent accounts impersonating reputable crypto projects, often promising unrealistic returns.