The Airdrop of Wormhole’s Native Token
The cross-chain protocol Wormhole has announced the airdrop of its native token. The token, with the ticker “W,” will have a maximum supply of 10 billion and an initial circulating supply of 1.8 billion. The tokens will be divided among different groups, including guardian nodes, community and launch, ecosystem and incubation, core contributors, strategic network participants, and the foundation treasury.
Wormhole plans to lock 82% of the tokens initially and gradually release them over four years. The protocol will utilize the native ERC-20 and SPL token formats.
Wormhole’s Plan to Decentralize Governance
In its airdrop announcement, Wormhole emphasized the importance of transparency and security in web3. The protocol has handled nearly 1 billion multichain messages for various applications and projects. It aims to progressively decentralize governance to W holders, allowing on-chain governance to guide community programs and treasury-related activities. This governance launch aims to empower the Wormhole community with resources and support.
Hot Take: Wormhole Empowers Its Community Through Airdrop
Wormhole is taking a significant step towards decentralization by airdropping its native token and involving the community in governance. With a maximum supply of 10 billion tokens, the project aims to distribute them among different groups, ensuring broad participation and ownership. By gradually releasing locked tokens over four years, Wormhole promotes long-term engagement and sustainability. This move aligns with the principles of web3, emphasizing transparency and security.
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