Wormhole, the bridge project between different blockchains, has confirmed its intention to launch a token called W, promising to distribute 617 million of these tokens, which represents 6% of the total supply, to various communities.
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A governance token for Wormhole
The W token is designed to be a governance asset, giving its holders the right to vote within the Wormhole DAO, an entity that has not yet been launched but will be responsible for making crucial decisions for the platform, such as setting service fees. Wormhole positions itself as a cross-chain messaging platform, facilitating the transfer of value across multiple blockchains, including Solana, Ethereum, and others.
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Check your eligibility for the Wormhole W airdrop
To check your eligibility for the Wormhole W airdrop, go to the official website and connect your wallets. If eligible, certain wallets like Phantom will display a message directly from the browser extension without needing to log in.
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Planned launch on Solana and Ethereum
The W token will be natively launched on the Solana and Ethereum networks, without specifying a date at the moment. The upcoming airdrop seems to be inspired by Pyth, another crypto project linked to Jump Capital, which serves as a data bridge for blockchains. Pyth’s airdrop started with a valuation of $500 million.
Wormhole officially distanced itself from Jump last November and subsequently announced that the service had raised $225 million. Its investors will receive over 11% of the circulating supply of the W token.
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Several communities involved and eligibility errors
Several communities will be able to benefit from the Wormhole $W airdrop, such as $PYTH stakers, users of multiple blockchains, and also NFT holders, like y00ts. However, many users are facing ineligibility that seems to be due to an error. Wormhole confirms an initial problem occurring for the EVM wallets of certain users.
