Wormhole (W) announces airdrop and 4-year tokenomics plan

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8 Feb 2024

Following a series of recent projects, cross-chain protocol Wormhole is the next name to announce an airdrop.

According to information posted late on the evening of February 7, the Wormhole cross-chain solution will use the “W” token, with a maximum supply of 10 billion and an initial circulating token of 1.8 billion USD.

The above token amount is allocated to many different categories, including:

Run transaction validation node (5.1% - 510,000,000 W);
Community and token issuance (17% - 1,700,000,000 W);
Ecosystem and incubation (31% - 3,100,000,000 W);
Core Contributors (12% - 1,200,000,000 W);
Network participants (11.6% - 1,160,000,000 W);
Treasury foundation (23.3% - 2,330,000,000 W).

Wormhole Tokenomics (W)

In the community category, Wormhole deducts 11% of tokens for airdrop. This allocation will be unlocked as soon as the project releases W (TGE). The remaining amount (6%) will be locked for 4 months after TGE.

Wormhole's W token unlocking schedule

Along with that, 82% of the total initial token supply will be locked and released to the market over the course of 4 years. The protocol will use native token formats ERC-20 and SPL.

Belowunder Jump Trading(year 2022),Wormhole was once stolen by hackers of 120,000 ETH, approximately 323 million USD at that time. This is also onethe largest DeFi attacks in history. Immediately after that, the project quickly rebuilt its reputation and achieved many significant achievements. On top of that last November, Wormhole wasSuccessfully raised capital of 225 million USD, giving the company a valuation of $2.5 billion. Participating in the funding round were Brevan Howard, Coinbase Ventures, Multicoin Capital and Jump Trading.

In its airdrop announcement, Wormhole said it has processed nearly 1 billion cross-chain transactions for applications and projects such as Uniswap, Circle, and Lido.

Before Wormhole, recently the cryptocurrency market also received a lot of good news from other projects such asPyth Network(phase 2 for dApp), game title Head of Mavia, stablecoin protocol TWO, blockchain layer-1 Shardeum, derivatives platformAge, DEX exchangeJupiter ...