Crypto Payments Network COTI To Airdrop 100 Million gCOTI Tokens

Blockchain-based payments network COTI is ready to dish out some generous rewards to community members through its new gCOTI Airdrop Campaign launching in April. 

The campaign will enable $COTI token holders and others to lock their assets within the COTI Treasury, and in return they'll be entitled to receive some generous rewards in the shape of gCOTI, the network's governance token. 

COTI, which is an abbreviation of "Currency of the Internet", is building a decentralized payment network for businesses and merchants. One of its main aims is to eliminate concerns businesses may have about using crypto. Its blockchain is based on the DAG protocol and a "proof-of-trust" mechanism to solve scalability issues, and is capable of processing up to 10,000 transactions per second. 

The main advantage of COTI is that companies can create their own, branded stablecoins pegged to assets like the U.S. dollar or Euro. In this way, they don't have to worry about the volatility that plagues traditional cryptocurrencies. 

The gCOTI token will play a central role in the COTI ecosystem as the native governance token of its treasury. Holders of gCOTI will be entitled to participate in Treasury liquidations, vote on matters of governance and earn a generous APY boost. 

The gCOTI Airdrop Campaign will distribute up to 100,000,000 gCOTI, or 10% of its total supply, when it begins on April 3 for all native $COTI holders and on April 17 for $COTI ERC20, USDC and USDT holders. On these dates, they'll be able to lock their assets in the COTI treasury and earn rewards, with the earliest depositors also eligible to receive some early bird bonuses. 

In addition, a portion of 2 million native gCOTI will be distributed to all current Treasury users, based on a snapshot taken on March 26. 

One of the great things about the airdrop is the loose eligibility requirements, with COTI set to reward anyone who has native $COTI stored in a COTI VIPER wallet, the Kucoin or Huobi exchange, or deposited in the Treasury already. It's also open to all $COTI ERC20 holders whose tokens are stored in MetaMask or another exchange, as well as ERC20 USDC and USDT holders whose tokens are stored in MetaMask. 

There will be three phases in the gCOTI Airdrop Campaign, with phase one distributing between 45M and 55M gCOTI to native $COTI holders with tokens held in a VIPER Wallet. It runs for 14 days beginning from April 3, and is open to users with existing treasury deposits, irrespective of previous locking periods or multipliers. For the campaign, users can select a new locking period ranging from 180, 270 or 360 days, with a 1X multiplier and without redemption, with the longer periods earning higher APYs and more gCOTI rewards. 

Phase two of the campaign will see 25M to 30M gCOTI distributed to $COTI ERC20, USDC and USDT token holders using COTI VIPER Wallet, also runs for 14 days, beginning on April 17. Once again, users have the option to lock their tokens in the Treasury for a period of 180, 270 or 360 days without redemption, with higher rewards for those who commit to a longer duration. 

Participants of phase one and two will receive their gCOTI rewards, relative to their deposited amount and locking period, via an airdrop on June 1. 

As for phase three, this will see 10M gCOTI distributed at a later date, with the official start still to be confirmed. It's an exchange-based campaign for $COTI holders who don't have a VIPER Wallet, and they'll be given a similar opportunity to lock their tokens into the Treasury in return for gCOTI rewards. 

If you don't yet have any $COTI and would like to participate in the airdrop, simply download the COTI VIPER Wallet and purchase them within the app, or else head to Kucoin or Huobi and buy them there. $COTI ERC20 tokens can also be bought on many other exchanges, such as Binance, Coinbase, Kraken and others. 

$COTI ERC20 token holders can swap their tokens to native $COTI and vice versa using the COTI Bridge. 

For more details about how the campaign works, and how the gCOTI rewards will be distributed, check out the team's post on Medium.