Wormhole Announces Airdrop of Token W

According to the announcement released on the morning of March 7th, the cross-chain solution Wormhole officially announces an airdrop event for its native token W to the community of users and projects within its ecosystem.

Enter the Wormhole.https://t.co/GxyfY14PyL pic.twitter.com/qlQBAjqjcO

— Wormhole (@wormholecrypto) March 6, 2024

Wormhole reveals that the snapshot of wallet balances for the airdrop will be taken at 23:59 AM on February 6th, 2024 (UTC). Users can check whether they meet the criteria to receive the W airdrop here.

However, the project has not yet confirmed the timing for when users will be able to claim the tokens.

Related: AMD Announces Partnership with Wormhole

Information about Wormhole Token W

Specifically, the token W will have a total supply of 10 billion and an initial circulation of 1.8 billion, allocated across 5 blockchains: Ethereum, Solana, Arbitrum, Optimism, and Base. Among these, 617.3 million W will be airdropped to 397,704 eligible cryptocurrency wallets belonging to the community of bridge users in the past, Discord group members, NFT community members, and top stakers of PYTH.

This constitutes a portion of the 11% of the total W supply that Wormhole has committed to allocate to the community. The remaining tokens will be unlocked 4 months after the TGE event.

Token W will be an integral part contributing to the formation of a decentralized governance mechanism for Wormhole. W holders can delegate tokens to facilitate voting on important decisions for the protocol such as supporting additional blockchains, upgrading smart contracts, changing transaction fee structures, etc.

Wormhole raised $225 million from several major funds in November 2023 after announcing its separation from Jump Crypto.