Cross-chain protocol Wormhole opens its token $W airdrop query today! This airdrop program will distribute 6.17% of $W to community members, with a total of 397,704 wallet addresses receiving the airdrop. The total supply of $W tokens is 10 billion, with 1.8 billion tokens allocated for initial circulation.
(Summary:
Valued at 2.5 billion pounds, Wormhole gives out a big red envelope! Airdrop to the community, averaging over 7,000 pounds per address.)
(Background:
Wormhole raises $225 million, strong comeback? How to participate and seize potential airdrop opportunities)
Wormhole, a Solana cross-chain bridge protocol that supports Ethereum, Solana, Polygon, etc., released the tokenomics of its token $W in early February, sparking discussions and anticipation for the official airdrop and issuance of $W.
Just this morning on February 7th, Wormhole officially announced the details of the $W airdrop, allowing users to check their eligibility and distribution quantity. According to the official introduction, the total supply of $W is 10 billion tokens, with an initial circulating supply of 1.8 billion tokens, issued on 5 chains in ERC20 and SPL formats, namely Ethereum, Solana, Arbitrum, Optimism, and Base.
In the tokenomics model announced earlier, 17% of the tokens were allocated to “community and launch,” and this airdrop will distribute 6.17% (617,305,000) of $W, totaling 397,704 wallet addresses receiving the airdrop.
Out of the 5 billion $W tokens, 500 million will be used to reward activities on connected blockchains, targeting users who use the Wormhole ecosystem applications on over 30 blockchains. The remaining approximately 1.17305 billion $W tokens will be used to reward community users, such as Wormhole Discord users, various NFT communities, Monad community, and the top 10,000 Pyth stakers.
Open airdrop query and eligibility
The official statement mentioned that the snapshot for this airdrop was taken at 7:59 am Taiwan time on February 7, 2024. Users can now check their eligibility and distribution quantity through the official website. The eligibility criteria provided by the official statement are as follows:
1. Past interactions: Interactions with the Wormhole ecosystem, chains, applications, or communities.
2. Distribution priority: Based on the user’s duration of interaction with the Wormhole protocol, accumulated interactions and transfers, persistence of usage, and participation within the ecosystem.
3. Evaluation duration: Qualification evaluation is based on data from the past three years.
4. Target user group: Frequent and long-term users of the decentralized application ecosystem of Wormhole.
5. Restrictions: Core contributors of Wormhole are not included in the airdrop. This airdrop is specifically designed for Wormhole community members who have supported the ecosystem for over three years.
It is worth mentioning that according to user X @Rocky_Bitcoin’s sharing, their Pyth staking received up to 7,000 $W tokens.
Note: Wormhole Discord users, Monad community, and the top 10,000 Pyth stakers are also eligible for the Wormhole airdrop.
Highest off-exchange price reported at $2.2
Although $W has not yet officially started trading, off-exchange markets such as Whales Market and Hyperliquid have already listed it. According to data from Whales Market, the current lowest sale price for $W is $1.39, with the highest transaction price reaching $2.2. The accumulated trading volume is approximately $1.67 million, with an average buying price of $1.03 and an average selling price of $1.49.
Based on the estimated price of $1.39, the airdrop amount reaches as high as $858 million, ranking eighth on the past airdrop leaderboard, surpassing Celestia and LooksRare, and approaching the existence of Bonk.
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