Bitcoin is testing its ATH level, and the best thing a protocol can do is announce an airdrop. The timing is extremely good. We have seen many projects receive much less interest than they should during the bear market due to airdrops. However, Wormhole is making the best move at least in terms of timing by doing it right now.
Wormhole (W) Coin
Wormhole serves as a bridge between different blockchains. This protocol allows the transfer of various data across more than 30 networks by developers. The platform has facilitated over 1 billion data transfers in applications such as Uniswap, Circle, Lido, Synthetix, Pyth. Now, to decentralize the structure, token issuance for the voting mechanism is necessary. The team wrote in today’s announcement;
“The Wormhole platform is being developed by a decentralized array of teams contributing to security, engineering, research, product development, ecosystem growth, and the community. These teams include Wormhole Foundation, Wormhole Labs, xLabs, and Asymmetric Research, as well as other participants such as Wormhole China, Superteam, Lurk (ZK engineering), Zpoken (ZK engineering), and Succinct (ZK engineering). The Wormhole protocol is now becoming even more decentralized.”
So what are the details about the airdrop?
- W will be distributed in ERC20 and SPL formats across 5 networks (Ethereum, Solana, Arbitrum, Optimism, and Base).
- It will have an initial circulating supply of 1.8 billion with a maximum token supply of 10 billion.
- 6.17% of the W supply (617,305,000) will be distributed to a total of 397,704 wallets.
- A portion of 500 million will be allocated for users of Wormhole ecosystem applications on more than 30 connected blockchains.
- About 117,305,000 W will be distributed to community users such as Wormhole Discord users, various NFT communities, Monad community, and Pyth stakers.
- A snapshot was taken for the airdrop.
