Nikolas Sargeant
Web3 infrastructure leader COTI announced today, March 18th, that it will be airdropping up to 40 million COTI V2 tokens, currently worth approximately $10 million, to its Native and ERC-20 $COTI holders.
In a press release shared with Cryptowisser, the team said this latest development arises due to the large and vocal community of supporters who continue to show the need for COTI V2 as a confidentiality layer on Ethereum.
The COTI V2 Airdrop Campaign will commence on Monday, March 25th, 2024. The planned distribution of the COTI V2 tokens will take place in Q4 2024, shortly after the COTI V2 TGE.
The team added that all Treasury participants will automatically be included in the airdrop of 40 million tokens, whether they are holding Native or ERC-20 $COTI. COTI added that this airdrop is in addition to all APY rewards for token holders. Users simply need to have a deposit in the Treasury to participate, but those who have made deposits before February 28th 2024 will receive an additional bonus as a show of the COTI team’s gratitude for their early support.
The team further explained that the airdrop rewards will be determined for each member using a combination of their deposit’s current APY, the other deposit settings including multiplier and locking period, and the amount of time and activity spent in the Treasury itself.
COTI Continues to Grow as a Web3 Infrastructure Developer
This airdrop comes as COTI has quickly become a major Web3 infrastructure developer, building the lightest and fastest confidentiality layer for the Ethereum ecosystem.
COTI’s data protection breakthrough is a result of a cryptographic protocol that is derived from Garbled Circuits, allowing for the privacy of on-chain data. This layer is secured by Ethereum’s L1, which creates the most comprehensive data privacy solution that maintains full compliance.
The team pointed out that Web3 companies will soon build applications for decentralized identification, DeFi, private auctions, data broker analysis (while protecting data privacy), and even Artificial Intelligence applications.
The COTI Treasury has been around since 2022 and it provides a reward structure for users who wish to deposit $COTI and earn APY in the form of $COTI and $gCOTI. As an indication of the COTI community’s overwhelming support, members have deposited over 500 million $COTI into the Treasury.
Furthermore, the Treasury continues to attract depositors thanks to the strength of its rewards, allowing a member to customize their desired potential APY by setting the amount to deposit, a multiplier, a lock period, and an APY boost. COTI intends to extend rewards even further by offering longer lock periods of 180, 270, and 360 days starting 25 March.
The upcoming airdrop is a significant one as it would be the first time the community’s $COTI ERC-20 token holders without VIPER wallets can also participate in Treasury rewards, both APY and the Airdrop Campaign.
The team pointed out that the V2 Airdrop Campaign is another successful step in its roadmap towards a thriving community of developers and users who are passionate about building an ever-improving Web3 ecosystem. With COTI’s compliant confidentiality layer, entire new industries within Web3 can be unlocked, which will continue COTI, Ethereum, and the rest of Web3 toward mass adoption across the globe.
COTI is the fastest and lightest confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces the most advanced and compliant solution for data protection on the public blockchain.
