Upcoming gCOTI Airdrop Campaign: What You Need to Know About COTI Treasury Governance Token
Since its launch, the COTI Treasury has grown rapidly with more than 500M $COTI tokens deposited, capturing over 43% of COTI’s circulating supply! This TVL also stands out when compared to other Layer 1s.
As the entire ecosystem generates fees and liquidations, the Treasury grows, increasing the rewards for users who have deposited $COTI. Depositing $COTI into the Treasury gives users a share of the growing pool.
We recently released the Treasury 2.0 litepaper, which includes enhancements that will take the Treasury a step further towards fulfilling its potential. Treasury 2.0 will expand the Treasury’s use case even further, such as the ability to deposit new tokens, resulting in TVL growth.
COTI’s Treasury Governance Token
gCOTI empowers community governance over COTI’s Treasury, for the first time ever. It is the first token to be issued on top of the MultiDAG 2.0 Mainnet, based on our new CMD standard. As recently announced, gCOTI was generated and minted on February 14th.
What’s the difference between $COTI and gCOTI?
$COTI and gCOTI serve different purposes. $COTI is the native token of COTI’s L1, the Trustchain. It is needed to cover transaction fees within the network. gCOTI is the governance token of the Treasury (and not of the protocol), and it will provide the following utility:
APY Booster — Depositing gCOTI alongside the $COTI deposit will entitle the depositor to a greater share of the rewards distributed from the Treasury Reserve Fund.
Governance- gCOTI will grant its holders the power to propose features and vote on matters related to the management of the COTI Treasury, based on their gCOTI holdings.
Active participation in Liquidations- gCOTI holders will be able to acquire $COTI deposits before they are liquidated, allowing them to purchase $COTI at a reduced cost directly from the Treasury.
Other use cases and applications of gCOTI may be presented in the future.
Distribution of gCOTI to the COTI community
As stated before, the first gCOTI tokens will be fairly distributed at no cost to loyal COTI community members that will participate in the gCOTI campaign.
In total, 52% of gCOTI’s total supply will be allocated to the COTI community and Treasury contributors.
The much-anticipated gCOTI airdrop campaign is planned for the first week of April! Users will be able to lock their $COTI for an extended period and receive gCOTI. The campaign participants will be the first to receive gCOTI and take advantage of its utility.
The campaign will include two unique programs:
- The first program will allow depositing Native $COTI in the COTI Treasury and committing for longer periods of 180, 270, and 360 days, without redemption before the end of the period. This campaign will only allow deposits with an X1 multiplier. By doing so, the participants will be eligible for both APY and gCOTI distribution.
This campaign is planned for the first week of April, and it will last for two weeks.
*The first participants to join the campaign will enjoy an Early Bird special bonus!
An active deposit in the Treasury can be transferred to the gCOTI campaign for no additional charge.
- The second campaign will allow VIPER wallet holders to deposit ERC20-based tokens such as COTI ERC20, USDT, and USDC for similar periods and terms, to receive Native gCOTI.
This campaign is planned for the 3rd week of April, and it will last for two weeks.
Participants in both campaigns will receive the gCOTI simultaneously, but there will be a different gCOTI allocation for each campaign, and the amount of gCOTI distributed to each participant will be determined based on the amount committed and the commitment period.
The campaign participants will become the inaugural gCOTI holders in the world, and they will be able to use their tokens almost immediately to increase their Treasury APY!
A campaign for ERC20 token holders with no VIPER wallet:
The first two campaigns will require a VIPER wallet in order to participate and receive the Native gCOTI. However, an exchange-based airdrop campaign is also scheduled in which COTI ERC20 holders can lock their $COTI tokens to similar terms and receive gCOTI at a later stage, without the need of having a VIPER Wallet.
We’ll be sharing all campaign details in the near future, so stay tuned.
Please note that the dates are subject to change.
After the airdrop campaign, we plan to launch a special community campaign that will reward community members who help spread the word about the COTI ecosystem. Community members can participate in content creation competitions, and the winners will receive gCOTI tokens as a token of appreciation for their efforts.
To ensure that this campaign remains community-oriented, a voting committee of loyal community members will determine the qualifications for receiving rewards and who would be rewarded.
The campaign is planned for the end of May. All details will be announced as we get closer to launch.
Total supply will be 1B tokens.
Airdrop campaign — 8.5–10%
- Minimum 8.5%, Maximum 10%, depending on the amount deposited, distributed over the locking period.
- If not reaching the maximum, the rest will be allocated to reserve.
Development — 18%
- 3 years linear vesting with 6 months cliff.
Treasury — 42%
- Distributed as APY to Treasury participants.
- 5 years from the completion of the airdrop campaign.
- Will be distributed as per governance decision for the benefit of the ecosystem.
- 2 years cliff
* The community tokens and reserve tokens will be distributed as per actual usage and requirements of the platform, but for demonstration purposes, the graph assumes linear vesting over 5 years and 3 years, respectively
- gCOTI airdrop campaign for Native COTI deposits is planned for the first week of April and will last for two weeks.
- gCOTI airdrop campaign for ERC20-based tokens deposits is planned for the 3rd week of April and will last for two weeks.
- After the completion of the airdrop campaign, we will launch the Exchange-based campaign where users will be able to lock their $COTI ERC20 tokens and be eligible for gCOTI ERC20 rewards.
- We will introduce the gCOTI APY booster feature.
- A community campaign is planned for the end of May, allowing community members to contribute to the COTI ecosystem and be rewarded with gCOTI.
gCOTI will empower community governance over COTI’s Treasury for the first time ever, and will enable a greater utility to the COTI ecosystem as a whole. We will roll out our plans for the gCOTI campaign soon. Stay tuned for further updates.
For all of our updates and to join the conversation, be sure to check out our channels:
Binance Feed: https://www.binance.com/en/feed/profile/485349084
CoinMarketCap Feed: https://coinmarketcap.com/community/profile/COTI
Technical whitepaper: https://coti.io/files/COTI-technical-whitepaper.pdf