Today we got the much anticipated news with regard to the Governance token also known as GCOTI. This is important as not only does it allow you to vote on key matters with regard to the COTI Treasury but also opens up the ability to earn more COTI by boosting your APR when staked alongside the stake.
There is basically going to be 4 phases commencing from the first week in April and area s follows.
This is for those using the COTI Treasury you can change your current locked staking period on level 1 to any of the now available 180,270 and 360 day locked periods. You will receive more GCOTI the longer the locking period on top of what you already have staked and it looks like only on level 1 as the time period would then guarantee no liquidations. There is an Early bird Bonus for those that stake the extended time periods soon after the launch time. I would suggest those in Level 2 switch their stake to Level 1 as it may work out to a similar APR with no risks involved plus you get the air drop. In the pat the airdrops have been rather lucrative and worth quite a bit and expect the same this time again. The time frame for doing this is 2 weeks from the start date yet be announced during the first week in April.
This for those that have a Viper wallet and don't have tokens on the COTI treasury. This will be airdropped for the 3rd week in April also lasting 2 weeks. The time frame periods apply to this as well being 180,270 and 360 days. You will receive native GCOTI according to the days staked.
Both Phase 1 and 2 will receive GCOTI depending on the number of tokens staked and the timeframe staked. The longer the time the more you will receive.
If you have your COTI on an exchange then you will still receive the airdrop and the staking time frames apply yet again. GCOTI will be distributed at a later date and would highly recommend getting a Viper wallet if you can. Then again if you can get a Viper wallet then you may as well stake in the Treasury and get the extras on offer.
Once the airdrop has been completed then there will be a community based airdrop for those that spread the word through creating content. I wonder of this counts or not as will be pushing all my COTI posts at them as I never expected this.
There are a few unanswered questions as what happens with the US holders who cannot have a Viper wallet and who are not happy staking on an exchange for a lengthy period of time. I am sure a solution will be found over the next few weeks.
This launch is slightly a little different from what was expected as I was not expecting lock up periods and that does not bother myself as I have been staked for over a year already.
