Wormhole Announces W Token Airdrop
Wormhole, a cross-chain protocol, has revealed plans for an airdrop of its W token. While an exact date was not provided, the team mentioned in a blog post that a snapshot of eligible wallets has already been taken.
The Cross-Chain Protocol
Wormhole allows users to bridge messages and assets across different blockchains. Originally connecting Ethereum to Solana, it now links almost 30 different networks. Since its launch in late 2020, Wormhole has raised $225 million in funding, resulting in a valuation of $2.5 billion.
Potential for a Massive Airdrop
There are already perpetual futures contracts available for the W token. However, some believe that the upcoming W airdrop could be even bigger than Jupiter’s JUP airdrop on Solana last week.
Token Distribution Plan
The Wormhole team intends to distribute 10 billion W tokens over four years. The initial circulating supply is set at 1.8 billion, while the remaining supply will unlock according to a predetermined schedule.
The distribution breakdown includes 5.1% for guardian nodes, 17% for the community, 12% for core contributors, 11.6% for strategic network partners, and 31% for ecosystem maintenance. The foundation treasury will hold the remaining 23.3%.
Hot Take: Wormhole’s W Token Airdrop Generates Excitement
With Wormhole’s announcement of its upcoming W token airdrop, anticipation is building in the crypto community. This cross-chain protocol has already gained significant attention and funding since its launch, and the potential for a massive airdrop has attracted even more interest. As the distribution plan unfolds, it remains to be seen how this airdrop will impact the ecosystem and push Wormhole closer to its decentralized future.
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