Cross-Chain Protocol Wormhole to Launch W Token with Airdrop
Cross-chain protocol Wormhole has announced its plans to launch a new token called W and has committed to distributing 617 million tokens to past users of the protocol. This airdrop will be available to users across various blockchains, including Solana and Ethereum.
Wormhole Confirms Airdrop
In a blog post on its website, Wormhole confirmed the upcoming airdrop and stated that it aims to expand its ecosystem by strategically distributing the W tokens. Although the post did not provide a specific launch date, it provided detailed information about how the tokens will be allocated. According to the post, a significant portion of the tokens will be allocated to support protocol use and engage with the community.
The total supply of W tokens is 617 million, and 6% of this supply will be distributed to past users of the protocol.
The Airdrop Details
Wormhole plans to offer the airdrop to nearly 400,000 unique wallets belonging to the “community and launch” category. Out of the 617 million tokens, 500 million will be allocated to users who have utilized a Wormhole application across 30 eligible chains. The remaining tokens will be distributed to users of other applications and communities.
“617 million tokens, or 6% of the total supply, has been allocated from the Community & Launch category in connection with this airdrop across 397,704 wallets following anti-sybil measures. The airdrop included 500,000,000 W for on-chain activity for users who used Wormhole ecosystem applications across the 30+ Wormhole-connected blockchains, as well as approximately 117,305,000 W for community users, such as Wormhole Discord users, various NFT communities, Monad community, and Pyth stakers.”
The pre-market trading for the W token has already seen a significant increase, with token claims selling for up to $2.49 each on Monday.
Eligibility Criteria for Airdrop
Wormhole has also introduced an airdrop eligibility checker to help users determine if their wallets are eligible. The protocol takes into account factors such as the length of engagement with Wormhole, the volume of messages and transfers, consistency of use, and participation in ecosystem apps to determine users’ eligibility.
“Please note that the numbers in the airdrop checker are subject to change. Users are encouraged to check ALL WALLETS that interacted with Wormhole ecosystem apps. Rewards will be split across all wallets per user.”
In addition to Ethereum and Solana, other eligible blockchain networks include Sui, BNB Chain, Aptos, and Avalanche. Ethereum scaling networks Polygon, Base, Optimism, and Abritrum are also included. Eligible apps include Solana wallet, DeFi aggregator Jupiter, and NFT projects Mad Lads, DeGods, and Yoots.
Wormhole DAO
Wormhole has outlined its plans to make the W token the governance token for the upcoming Wormhole DAO. This intention was first shared in a post published in February, where the protocol stated that it aims to progressively decentralize its governance to W holders over time. The DAO is expected to take on more responsibility for decision-making, including token design and smart contract upgrades.
Hot Take: Participate in the Wormhole Airdrop and Expand Your Crypto Portfolio 📈
Wormhole’s announcement of the W token airdrop presents a great opportunity for crypto enthusiasts to expand their portfolios. By claiming the airdropped tokens, users can benefit from the potential value increase and actively participate in the Wormhole ecosystem.
Here are a few reasons why you should consider participating:
- The airdrop allows you to receive W tokens for free, without having to purchase them on the market.
- The popularity of the airdrop has already driven up the trading price of the W token, indicating its potential value.
- Being a part of the Wormhole ecosystem opens up opportunities for engagement with various applications and communities.
- With the W token becoming the governance token for the Wormhole DAO, you can play a role in shaping the future of the protocol.
Make sure to check the eligibility criteria and claim your airdrop to maximize your crypto holdings. Don’t miss out on this exciting opportunity to be part of the Wormhole ecosystem and potentially increase your crypto assets!
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