Wormhole, a popular bridge connecting various blockchains, announced an airdrop of its "W" token Though no exact date is set, a snapshot of eligible wallets has already been taken.
Wormhole, a popular bridge connecting various blockchains, announced an airdrop of its "W" token Though no exact date is set, a snapshot of eligible wallets has already been taken. Wormhole plans to distribute 10 billion W tokens over four years, with an initial release of 1.8 billion. The remaining 82% will unlock gradually. According to the blog post, this is a crucial step towards decentralization and a permissionless future.
Wormhole will airdrop 17% of the supply to its community, 12% to core contributors, 11.6% to strategic network partners and 5.1% to guardian nodes. It plans to set aside 31% for maintaining its ecosystem and 23.3% for its foundation treasury. For the community, a large chunk of their tokens will be available immediately, with the rest vesting after four months.
Wormhole allows users to transfer assets across networks, initially starting with Ethereum and Solana, and now encompassing nearly 30 different blockchains. In November last year, they raised $225 million in funding from Coinbase Ventures, Multicoin Capital, Jump Trading and more, valuing the company at an impressive $2.5 billion.
The airdrop aims to decentralize the cross-chain platform, giving governance to holders and allowing the community to have a say in future developments. Excitement is already brewing, with perpetual futures contracts for W popping up, mirroring the hype surrounding Jupiter's recent JUP airdrop.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
