The Native gCOTI Drop is One Week Away. Here’s Everything You Need to Know

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COTI

3 min readMay 25, 2023

After the completion of the Native $COTI and ERC20-based token phases of the gCOTI Airdrop Campaign, it’s now time for the Native gCOTI rewards to be distributed amongst the campaign’s participants. On the 1st of June, we will begin the process of airdropping a total of 82M Native gCOTI to thousands of VIPER Wallet addresses. These tokens are delivered direct, and free of charge.

How Will the gCOTI be Delivered?

Prior to the airdrop date, participants of both campaigns can see their expected gCOTI rewards by logging into their VIPER Wallet.

On the 1st of June, the gCOTI Airdrop process will begin. As there were multiple ways to take part in the gCOTI Airdrop Campaign, participants may receive several separate airdrops, each appearing as individual transactions in their VIPER Wallet.

This includes:

Users that had an active Treasury deposit at the time of the surprise snapshot we took on 26/03/2023 will receive their share out of a total amount of 2M Native gCOTI.
Users that deposited $COTI in the Native campaign will see a transaction for every separate deposit made along with any early bird bonus. A total of 57M gCOTI will be distributed. This amount includes both the early bird bonus of 2M gCOTI and the snapshot rewards.
Users that deposited in the ERC20-based token campaign will see a transaction for every separate type of deposit made ($COTI ERC20, USDT, USDC) along with any early bird bonus. A total of 25M gCOTI will be distributed to these users. This amount includes an early bird bonus of 500K gCOTI.

Early bird bonuses were allocated to:

Users that were the first to deposit in the Native $COTI Campaign up to a soft cap of 50M $COTI. This included 245 unique wallets that were eligible.
The first 100 unique wallets that participated in the ERC20-Based Token Campaign

Scenario:

Tom was one of the first depositors in the Native $COTI campaign, earning him an early bird bonus. In the ERC20-based token campaign, Tom made one deposit of $COTI ERC20 and one of $USDC. Tom will receive three separate gCOTI airdrops on the 1st of June, one for his Native deposit (including the early bird bonus) and one for each type of ERC20 token deposited.

What’s Next?

Eligible users that receive the first distribution of gCOTI on June 1st will also be the first to utilize the APY boost feature. Enabled at the end of June, this feature will allow users to deposit gCOTI alongside their $COTI deposit in the Treasury and be entitled to a greater share of the Treasury rewards.

Please note that this Airdrop marks the first time gCOTI has ever been sent to anyone, so be aware of scammers and stay vigilant.