Cross-chain protocol Wormhole today opened its token $W airdrop query! 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 for initial circulation.
(Summary:
Valued at 2.5 billion pounds, Wormhole gives out big rewards! Exciting airdrop for the community: an average of over 7,000 pounds per address.)
(Background:
Wormhole raises $225 million, making a strong comeback? How to participate and seize potential airdrop opportunities)
Wormhole, a Solana cross-chain bridge protocol supporting Ethereum, Solana, Polygon, etc., released the tokenomics model for token $W in early February, sparking discussions in the community and anticipating the official airdrop and issuance of $W.
Just this morning, Wormhole officially announced the details of the $W airdrop and opened user queries for 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 in ERC20 and SPL (token standard) formats on five chains: Ethereum, Solana, Arbitrum, Optimism, and Base.
In the tokenomics model announced earlier, 17% of the tokens were allocated to “community and launch,” while 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 of 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 on February 7, 2024, Taiwan time. Users can now check their eligibility and distribution quantity through the official website. The eligibility criteria for the airdrop are as follows:
1. Past interactions: Interaction with various chains, applications, or communities within the Wormhole ecosystem.
2. Priority allocation: Based on the user’s duration of interaction with the Wormhole protocol, cumulative interactions and transfers, continuity of usage, and participation in applications within the ecosystem.
3. Assessment duration: Eligibility assessment based on three years of data.
4. Target user group: Frequent and long-term users of the decentralized application ecosystem of Wormhole.
5. Limitations: Core contributors of Wormhole are not included in the airdrop. This airdrop is designed for members of the Wormhole community who have supported the ecosystem for more than three years.
It is worth mentioning that, according to X user @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.
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Highest OTC price reported at $2.2
Although $W is not yet officially available for trading, OTC markets such as Whales Market and Hyperliquid have already gone online. According to data from Whales Market, the lowest selling price for $W is currently $1.39, with the highest transaction price being $2.2. Approximately $1.67 million in transactions have been accumulated, with an average buy price of $1.03 and an average sell price of $1.49.
If estimated at $1.39, the amount of this airdrop would be as high as $858 million, ranking eighth in the past airdrop rankings, surpassing Celestia and LooksRare, approaching the existence of Bonk.
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