Coti Announces $10 Million Airdrop for Coti v2 Tokens
Coti, an Ethereum-based platform focusing on privacy solutions, has revealed plans to conduct a massive airdrop of Coti v2 tokens valued at $10 million.
This move aims to reward current holders of its native Coti (COTI) token.
Coti v2 operates as a layer-2 protocol on Ethereum, designed to enhance privacy and security when transmitting sensitive data across various Web3 applications.
In an effort to engage its community and encourage participation, Coti announced that it will distribute 40 million Coti v2 tokens to existing holders of both native and ERC-20 COTI tokens.
The airdrop campaign is scheduled to commence on March 25, with the actual distribution of Coti v2 tokens set to take place later in the year, following the token generation event.
Eligibility for the airdrop extends to all current COTI token holders, as well as participants in Coti’s treasury. Coti emphasizes that this airdrop initiative is in addition to the annual percentage yield rewards already available to token holders.
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Coti also mentioned plans to introduce longer lock-up periods for enhanced rewards, with periods ranging from 180 to 360 days, starting from March 25.
The move by Coti comes amidst a growing trend of token airdrops within the cryptocurrency space, with several protocols offering substantial rewards to users. This strategy aims to foster community engagement and incentivize long-term participation in the platform.
As the airdrop season gains momentum, crypto enthusiasts are reminded to conduct thorough due diligence before participating in such initiatives, in order to mitigate risks and ensure informed decision-making.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
