Cross-Chain Bridge Wormhole Announces W Token Airdrop

Wormhole, a leading cross-chain bridge solution, has announced an airdrop of its native token, W, allocating 6% of the total supply to early supporters.

Update as of March 29, 2024:

After much anticipation, Wormhole has confirmed that the W token airdrop will take place on April 3 at 06:30 PM (Vietnam time).

Original Article:

In an announcement made in the early hours of March 7, Wormhole revealed its plan to airdrop the W token to its community of users and ecosystem projects.

Wormhole disclosed that the snapshot for the airdrop was taken at 06:59 AM on February 7, 2024 (Vietnam time). Users can check their eligibility for the W token airdrop here.

However, the project has yet to confirm the exact date when users can claim their tokens.

W Token Distribution:

• Total Supply: 10 billion
• Initial Circulation: 1.8 billion, distributed across Ethereum, Solana, Arbitrum, Optimism, and Base blockchains.
• Airdrop: 617.3 million W tokens will be airdropped to 397,704 eligible wallets, including past bridge users, Discord members, NFT community members, and top PYTH stakers.

This airdrop is part of the 11% total supply of W tokens dedicated to the community. The remaining portion will unlock four months after the Token Generation Event (TGE).

Governance and Future Plans:

The W token will play a crucial role in establishing decentralized governance for Wormhole. Holders of W tokens will be able to delegate their tokens for voting on significant protocol decisions, such as adding blockchain support, upgrading smart contracts, and adjusting transaction fee structures.

In November 2023, Wormhole raised $225 million from major investment funds after announcing its separation from Jump Crypto.

For more details on the W token and the airdrop, stay tuned to Wormhole's official channels.