Coti, an Ethereum-based confidentiality layer, will deliver $10 million in Coti v2 tokens via airdrop to holders of its native Coti (COTI) token. Coti v2 is an Ethereum layer-2 protocol that focuses on privacy and is designed to securely communicate sensitive data between Web3 apps.The company announced a planned community rewards project in which it will airdrop 40 million Coti v2 tokens to existing native and ERC-20 COTI holders.
According to the notification made to Cointelegraph, the Coti v2 airdrop campaign will begin on March 25.However, the distribution of Coti v2 tokens will begin in the fourth quarter of 2024, immediately following the token production event.In addition to existing COTI token holders, all treasury participants are instantly eligible for airdrop incentives.Coti added that the airdrop is in addition to all annual percentage yield awards for tokenholders. The announcement reads.
“Users simply need to have a deposit in the Treasury to participate, but those who have made deposits before February 28, 2024, will receive an additional bonus as a show of the COTI team’s gratitude for their early support.”
At the time of writing, Coti’s treasury was valued at approximately $98.7 million.The rewards for each investment will be calculated based on their level of involvement in the ecosystem.The company sees the Coti v2 launch as the key to unlocking brand-new use cases for the Web3 economy via confidentiality.The company also wants to extend rewards further by offering lengthier lock periods of 180, 270 and 360 days starting March 25.
The airdrop season began in January 2024, when protocols distributed $700 million in tokens in just one week.As previously reported by Cointelegraph, popular protocols that provided rewards to their users included the Ethereum scaling solution AltLayer, multilayer rollup deployer Dymension, and the Solana-based decentralized exchange Jupiter.Crypto users looking for crypto token airdrops on X should conduct thorough research on the projects they intend to invest in.Investors should also keep an eye out for accounts imitating well-known cryptocurrency ventures, which sometimes promise unrealistic returns on investment.