The Wormhole cross-chain protocol team has declared the distribution of 617 million W tokens to participants of its airdrop.
Enter the Wormhole.https://t.co/GxyfY14PyL pic.twitter.com/qlQBAjqjcO
— Wormhole (@wormholecrypto) March 6, 2024
Eligibility for the rewards extends to users who have actively contributed to the growth of the ecosystem:
“This Wormhole airdrop is designed to acknowledge and reward the contributions of dedicated users and developers of multichain applications built on Wormhole, as well as community members who have played a significant role in development and engagement within the Wormhole ecosystem.”
According to the details provided, Wormhole (W) is built on the ERC-20 and SPL standards utilizing the Native protocol. The total supply of the asset is set at 10 billion, with 6.17% allocated for the airdrop.
Project representatives have disclosed that approximately 400,000 wallets meet the criteria mentioned above. Collectively, these wallets are set to receive 500 million tokens. An additional 117 million W tokens will be shared among Discord participants, NFT communities, and users of the Monad and Pyth projects.
In November 2023, Wormhole attracted $225 million in funding from Coinbase Ventures, Multicoin Capital, Jump Trading, and other venture capital firms. Following the investment, the project’s valuation surged to $2.5 billion.
Community members have highlighted that the Wormhole airdrop could potentially become the largest in 2024. According to user information, the snapshot for the distribution was taken on February 7, 2024. At the token launch, the circulating supply is expected to be around $1.8 billion.
No doubts $W will be one if not the biggest airdrop!
Max Supply: 10B
Airdrop: 1.1B (11)%
Pre Trading: $2.4☛ So the airdrop could be worth $2.65B
Allocation:
◆ Mad Lads (10k)
◆ DeGods (9k)
◆ Y00ts (12k)
◆ Bad Kids (10k)
◆ Wallets that used the wormhole bridge (~100k)…— fabiano.sol (@FabianoSolana) March 6, 2024
The market valuation of the Wormhole token airdrop has nearly reached $3 billion, with W tokens trading at $1.6 in the pre-market, based on Bybit exchange data.
For context, according to CoinGecko, the largest airdrop by valuation to date has been the distribution of Uniswap (UNI) tokens, valued at $6.4 billion. Should the value projections for W tokens hold true, Wormhole will enter the top three projects by airdrop size.
