COTI to Launch an exciting gCOTI Airdrop Campaign in April
The highly anticipated gCOTI airdrop campaign is set to begin in the first week of April! Users will be able to lock their $COTI for an extended period of time in exchange for gCOTI.
by COTI Channel
Participants in the campaign will be among the first to receive and use gCOTI. The campaign will feature two distinct programs, the first of which will allow users to deposit Native $COTI in the COTI Treasury and commit for longer periods of 180, 270, and 360 days, with no redemption before the end of the period. This campaign will run for two weeks beginning in the first week of April.
by COTI Channel
For the first time, the upcoming gCOTI campaign will empower community governance over COTI's Treasury, providing users with unique benefits and utilities. In this article, we'll look at the various aspects of the campaign and what you need to know about the COTI Treasury Governance Token.
ERC20 token holders eligible for VIPER Wallet campaign
In the second campaign, VIPER wallet holders will be able to deposit ERC20-based tokens such as COTI ERC20, USDT, and USDC for similar periods and terms in order to receive Native gCOTI. Participants in both campaigns will receive gCOTI at the same time, but each campaign will have a different gCOTI allocation, and the amount of gCOTI distributed to each participant will be determined by the amount committed and the commitment period.
Since its rollout, the COTI Treasury has grown significantly, with over 500 million $COTI tokens deposited, accounting for more than 43% of COTI's circulating supply. When compared to other Layer 1 TVLs, it stands out. The Treasury expands as the ecosystem generates fees and liquidations, increasing the rewards for users who have deposited $COTI. Users gain access to the growing pool by depositing $COTI in the Treasury.
COTI recently published the Treasury 2.0 litepaper, which includes enhancements that will help the Treasury reach its full potential. Treasury 2.0 will broaden the Treasury's use case even further, including the ability to deposit new tokens, which will result in TVL growth.
gCOTI is the Treasury's governance token, and it will provide users with unique utilities. Depositing gCOTI alongside $COTI entitles the depositor to a larger share of the Treasury Reserve Fund's rewards. Furthermore, gCOTI holders will be able to propose features and vote on matters pertaining to the management of the COTI Treasury based on their gCOTI holdings. gCOTI holders will also be able to acquire $COTI deposits before they are liquidated, allowing them to purchase $COTI directly from the Treasury at a lower cost.
COTI intends to launch a special community campaign following the airdrop campaign to reward community members who help spread the word about the COTI ecosystem. Members of the community can compete in content creation competitions, with the winners receiving gCOTI tokens as a reward for their efforts. The qualifications for receiving rewards and who will be rewarded will be determined by a voting committee of loyal community members.
Surprise Snapshot Bonus for Current Treasury Users
by COTI Channel
As the launch of the gCOTI airdrop campaigns approaches, COTI's team has decided to give an early bird bonus gCOTI airdrop to all current Treasury users! The COTI team will reward everyone who has participated in the Treasury and supported the ecosystem's growth. The team has disclosed that to this end, a portion of 2M Native gCOTI has been allocated for distribution to all current Treasury users.
On March 26th at 14:39:23 UTC, the COTI team took a snapshot of all current Treasury users, considering all existing multipliers, accumulated rewards, and locking periods. Using this information, a proportionate amount of Native gCOTI will be airdropped directly to user wallets, without any action required on their part, the team announced. The distribution will take place on June 1st, the team added.
In conclusion, the gCOTI airdrop campaign provides a one-of-a-kind opportunity for users to receive and enjoy the benefits of gCOTI. Users gain governance over the Treasury and a larger share of the rewards distributed from the Treasury Reserve Fund by depositing $COTI and gCOTI into the Treasury.
First published on Mar 16, 2023