Wormhole reveals specifics of the upcoming W governance token airdrop, spanning Ethereum, Solana, and various blockchains, with over 30 eligible chains and nearly 400,000 unique wallets targeted. Pre-market trading sees substantial growth, with token claims valued at $2.49 each.
A new announcement from the cross-chain protocol Wormhole sheds light on the imminent launch and airdrop event for its W governance token. This token will be available for users across various blockchains, including Ethereum, Solana, and several others, as well as select community projects.
The upcoming airdrop is set to benefit nearly 400,000 unique wallets falling under the "community and launch" category, with a staggering 617.3 million W tokens earmarked for distribution to these users.
Out of this allocation, 500 million tokens will be distributed to crypto enthusiasts who have engaged with a Wormhole application across more than 30 eligible chains. The remaining tokens will be allocated to users within other applications and crypto communities.
Wormhole has introduced an airdrop eligibility checker, allowing users to verify if their wallets qualify for the impending distribution. However, no specific date for the airdrop claim has been disclosed. W is designed as a cross-chain token, slated for release as both a native Solana SPL20 token and an Ethereum ERC-20 token, ensuring accessibility across multiple chains, including Base, Arbitrum, and Optimism.
It's worth noting that the figures provided in the airdrop checker are subject to change.
Users are advised to check ALL WALLETS that have interacted with Wormhole ecosystem apps. The rewards will be distributed across all wallets per user.
— Wormhole (@wormholecrypto) March 6, 2024
The list of supported blockchains encompasses Solana and Ethereum, alongside networks such as Avalanche, Aptos, BNB Chain, and Sui. Additionally, it includes Ethereum scaling solutions like Arbitrum, Base, Optimism, and Polygon.
Among the eligible applications are Solana wallet and exchange Backpack, DeFi aggregator Jupiter, as well as NFT projects like Mad Lads, DeGods, and y00ts. Discord users of Wormhole and members of various other communities are also included.
The pre-market trading activity for the W token has witnessed significant growth in recent days, with token claims trading at $2.49 each as of Monday. If these estimates hold true, the airdrop's value could surpass $1.5 billion, with the market capitalization of the initial circulating supply of 1.8 billion tokens potentially reaching nearly $4.5 billion.