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I am sure most of you who are involved with the GCOTI (Governance Token) know that this has been split into 3 different phases. Phase 1 was for the native COTI staked in the Treasury followed by Phase 2 the ERC 20 token on exchanges  then Phase 3 for those that have COTI tokens elsewhere.

I think it is interesting to see how various Crypto projects do their airdrops as it brings in new ideas for others to try and tweak or improve on. COTI have taken the approach to encourage staking for longer periods of time and there will be no dumping of the airdrop tokens due to staking periods involved. The benefits of holding this GCOTI token point more towards an earning token for long term holders.
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The Phase 1 has been completed showing that 2/3 rds of the Staking in the COTI Treasury was involved. A total of 359.7 million COTI was moved into the longer staking pools qualifying for the GCOTI airdrop.

The breakdown is fairly interesting for the locking periods as these do make a significant difference in the size of airdrop. 360 days would receive 4 x more than those choosing 180 days or 2 x those selecting 270 days. With the overall figures finally in we can thumb suck the size of the airdrop we will all receive. 55 million GCOTI is the size of this particular airdrop.

 


We know the overall total is 359.7 million Staked qualifying for the airdrop.

84% x 360 days 4 x GCOTI  (302 148 million COTI)

16% x 270 days 2 x GCOTI  (57 552 million COTI)

06% x 180 days 1 x GCOTI  (21.58 million COTI)

55 million GCOTI is the airdrop

This works out at 0.15 GCOTI for every COTI staked which will be slightly more as 16% receive less and 84% more due to staking periods selected. I expect to receive somewhere around 9.5K -10K GCOTI. There was also an early snapshot done a week before the campaign started increasing the over all airdrop.

The early bird bonus for fastest fingers was for the first 50M COTI staked and that was achieved in less than 1 minute by 245 users which is nuts. Not surprisingly this triggered a security mode to kick in and froze many users who were repeatedly trying to log in. There has to be a better way to conduct an airdrop as this was not exactly fair so lessons need to be learned.

The current APR for those in 360 days is 8.34% which is double what is now on offer for the 120 days staked on Level 1 and is the equivalent of Level 4 Staking on 30 days. The rewards that are being generated (farmed) will now be moved onto Level 1 earning 4.17% APR. This is where GCOTI will show it's worth
as staked alongside COTI the hope is it will add a few percent 1/1. I will need at least 10 000 COTI staked in this 4.17% Level 1 to fully benefit from June 1st which is the day the airdrop is handed out. This will be my next staking target so it never ends which helps you target growth.

The aim is to achieve 100K COTI staked before the year end as this will set me up for 2024 and with what is being rolled out by the team will hopefully have some serious value by then.


 





Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@cryptoandcoffee/gcoti-airdrop-first-phase-stats)