Over 600 million W tokens have been allotted to neighborhood members and 397,704 wallets that interacted with Wormhole-connected functions earlier than Feb. 6.
Wormhole, a cross-chain interoperability protocol that raised $225 million final yr, is gearing as much as launch its extremely anticipated W token.
The venture will probably be airdropping simply over 6% of the entire provide of 10 billion W tokens to previous customers of Wormhole-connected functions and eligible neighborhood members.
Customers can examine their W eligibility right here.
With an preliminary circulating provide of 1.8 billion tokens, W will probably be distributed in ERC20 and SPL codecs throughout 5 preliminary chains, together with Ethereum, Solana, Arbitrum, Optimism, and Base.
Wormhole began out as the first bridge between Solana and different blockchains in 2021, however has since expanded to over two dozen networks and processed greater than 1 billion cross-chain messages.
The overall provide of 10 billion W has been allotted throughout six classes: Guardian Nodes, Neighborhood & Launch, Core Contributors, Ecosystem & Incubation, Strategic Community Individuals, and the Basis Treasury. About 82% of the entire provide will probably be initially locked and vest over 4 years at varied intervals.
Prelaunch perpetuals for W are buying and selling at round $2 on Hyperliquid, giving Wormhole a projected totally diluted valuation of $20 billion.
The token is constructed on the Native Token Transfers (NTT) framework for multichain performance and might be transferred seamlessly to any Wormhole-connected community. Token holders will be capable of delegate their tokens to vote on governance proposals. Delegation will first be out there on EVM chains at launch, with Solana to observe quickly after.
