Guide: How to claim $CVX using a COTI Pay Viper wallet
CVX has just been announced and we are thrilled to begin the $CVX tokens claim process.
As CVX was developed entirely by the COTI team, we believe that it is only fair that the community of $COTI holders should be the initial beneficiaries of CVX.
Therefore, starting Wednesday, October 14th, and ending once the CVX platform is launched, we’ll be distributing 10% (3.2M $CVX tokens) of the $CVX supply to $COTI holders.
As a $COTI holder, you can claim your $CVX tokens by following these simple steps:
In the wallet, go to “Claim CVX tokens” in the menu
Provide one COTI MainNet wallet address to participate that contains a minimum of 10K COTI coins and a maximum of 500K COTI coins.
If you have staked tokens on COTI’s full nodes, those will be counted automatically too (you will need to enter the MainNet address associated with your staked tokens)
Provide an ERC-20 address where $CVX tokens will be sent to once unlocked
Click the “Claim” button
Wait for the announcement of the end of the claim process
*To make sure that distribution is fair and that $CVX is well distributed, the amount of $COTI that an individual can participate in the claim process with is limited to 500K $COTI coins.
- The claim option is available for 24 hours once enabled.
- There will be a total of 8 claim periods, each lasting approximately a week.
- The time of the start of each claim period is not fixed and will be announced a few hours before they take place, to avoid market manipulation and to keep distribution as fair as possible.
- During the claim period, several random snapshots within the claim periods will be taken of all the COTI Pay Viper addresses that have submitted a $CIVX token claim
- Once the claim period is over, usually after a few days, eligibility for $CVX tokens will be according to the CVX distribution formula =
CVX distributed in the specific claim period * COTI amount in your participating address / Total eligible users amount
- A minimum of 10,000 COTI must be in the wallet at the time of the snapshot. If there are less in the address when the snapshot is taken, a user won’t be eligible to receive $CVX tokens for that period.
Important to know:
- COTI coins won’t be locked in your addresses and you will be able to withdraw them at any time. However, you will lose your eligibility for $CVX during that claim period if you do so.
- Users who have staked their COTI will automatically have their stake calculated for CVX eligibility.
- CVX won’t be distributed before the platform launch and before the TVL has reached 500k USD.
- Distribution of $CVX to $COTI holders is not a one-time event. The first distribution will be the biggest one and then the following distribution will be 10% less and so on, until 3.2M $CVX tokens are distributed when the platform is launched.
- Once we announce the Claim period, you will see a countdown on the CVX website to the time the Claim will be turned on. From the moment the Claim will be enabled, the countdown will count the time until the Claim option will end.
To check how many $CVX you are eligible to, follow these steps:
This option will be available from October 17th.
- Go to the CVX website: cvx.finance
2. Click “$CVX ENTITLEMENT”, or click here directly.
3. Enter the ERC-20 address you’ve provided upon claiming the $CVX tokens.
4. The total tokens will appear, from all the distributions you were eligible to.