Coti, the Ethereum-based confidentiality layer, has announced plans to distribute Coti v2 tokens worth $10 million via airdrop to holders of its native Coti (COTI) token. Coti v2, described as a privacy-centric layer-2 protocol on Ethereum, is dedicated to safely transmitting sensitive data over the blockchain across Web3 applications.
Community Rewards Initiative
The company’s community rewards initiative involves airdropping 40 million Coti v2 tokens to existing native and ERC-20 COTI holders. The campaign is set to commence on March 25, with token distributions scheduled to begin in the last quarter of 2024 following its token generation event.
All Treasury participants are instantly eligible for airdrop incentives, in addition to current COTI token holders. The COTI team is also offering an additional incentive to users who have deposits in the Treasury, especially those who made their deposits before February 28, 2024, as a token of appreciation for early support.
Unlocking Web3 Economy Use Cases
With a total value locked of approximately $98.7 million in Coti’s treasury, rewards for each investor will be determined based on their level of involvement in the ecosystem. Coti positions the Coti v2 launch as instrumental in unlocking new use cases for the Web3 economy through enhanced confidentiality.
Additionally, starting on March 25, the company plans to increase benefits by providing lengthier lock periods of 180, 270, and 360 days.
The announcement comes amidst a surge in airdrop activity within the crypto space, with protocols offering a cumulative $700 million in token airdrops within a week in January 2024. Prominent protocols such as AltLayer, Dymension, and Jupiter have also offered rewards to their users.
Crypto enthusiasts pursuing token airdrops are advised to conduct thorough research on projects before investing. Additionally, investors should remain vigilant against accounts impersonating well-known crypto projects, often promising unrealistic returns on investment.
Image by master1305 on Freepik
Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.