The Upcoming W Governance Token Airdrop from Wormhole Sparks Controversy
The crypto community is buzzing with anticipation for the upcoming W governance token airdrop by cross-chain protocol Wormhole. The airdrop will be available to eligible wallets on Solana, Ethereum, and other platforms. However, not everyone is pleased with the wallet selection process or the allocation of tokens to certain users and communities.
To address the confusion surrounding the airdrop, Wormhole recently released an extensive post detailing the process and intentions behind it. The team aims to reward legitimate users of the protocol and key multi-chain community groups in an egalitarian manner.
Transparent Process and Eligible Wallets
Wormhole’s team worked diligently to ensure that authentic users were properly rewarded. With assistance from data platform Allium, they identified over 400,000 unique wallets that are now eligible for the airdrop. This number has increased since last week.
The project emphasizes rewarding early and active users of Wormhole over an extended period of time. Bonuses were also given to users who transacted during the bear market (June 2022 – November 2023) and those who consistently used Wormhole for three or more months.
Varying Allocations for Community Groups
The amount of W tokens allocated to community groups varies significantly. For instance:
- Holders of DeGods and y00ts NFTs will receive 2,000 W tokens per NFT, up to five NFTs in total, if they were verified via the Wormhole Discord server during the February 6 snapshot. All tokens will be available on day one of the airdrop.
- Holders of Mad Lads NFTs on Solana will receive 16,000 W tokens each. However, only 3,200 tokens will be accessible on day one, with the remaining tokens vesting daily over the next year. This discrepancy is due to the close collaboration between Backpack and the Mad Lads NFT collection and their contributions to Wormhole’s growth.
Previously, some DeGods and y00ts holders expressed concerns about their eligibility for the airdrop. However, Wormhole’s updated wallet tally confirms that these holders are indeed eligible, along with other recipients.
Token Price and Launch
The W token is currently trading at $1.58 in pre-market trading on Whales Market, a decrease from $2.49 a week ago. The exact launch date for the token has not been announced.
Hot Take: Controversy Surrounding the W Airdrop
The upcoming W governance token airdrop by Wormhole has generated both excitement and controversy within the crypto community. While many are eagerly anticipating their share of tokens, others have voiced concerns about the selection process and token allocations.
Wormhole’s efforts to clarify the airdrop details through an extensive post demonstrate their commitment to transparency. However, some users remain dissatisfied with certain aspects of the distribution.
Key Points:
- The W governance token airdrop by Wormhole is highly anticipated by the crypto community.
- The selection process and token allocations have sparked controversy among users.
- Wormhole aims to reward legitimate users of its cross-chain protocol and key multi-chain community groups.
- Over 400,000 unique wallets have been identified as eligible for the airdrop.
- The allocation of W tokens varies for different community groups.
- The W token is currently trading at $1.58 on Whales Market.
Overall, the upcoming W airdrop has generated significant interest and discussion. As the launch date approaches, it remains to be seen how the controversy surrounding the selection process and token allocations will be addressed.
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