Original author: Peng SUN, Foresight News

Launched in October 2020, it suffered a $326 million hacker attack in February 2022, and completed a $225 million financing in November 2023. From the much-criticized cross-chain bridge to the construction of a universal messaging protocol, Wormhole has lived for more than 3 years. After surviving a new round of bull market, he became a super rich man in the eyes of electronic beggars.

Today, Wormhole officially announced the airdrop distribution details of its native token W. The total supply is 10 billion, and approximately 617 million W tokens (accounting for approximately 6.17% of the total supply) will be airdropped to approximately 400,000 wallets. So what about W token economics and release rules? What are the airdrop standards? Which users are eligible to claim airdrops? How much is W worth?

1. Introduction to Wormhole

Wormhole is a universal messaging protocol launched in October 2020. Originally incubated and supported by Jump Crypto, it was designed to enable developers to build native cross-chain applications covering multiple chains. It has now changed from focusing on Ethereum to Solana The two-way cross-chain bridge has developed into a universal messaging protocol that supports multiple chains and has been split into Jump Crypto.

Regarding Wormhole, most people have the impression that cross-chain bridges are unsafe. Especially on February 3, 2022, Wormhole was hacked and lost 120,000 ETH (worth approximately US$326 million at the time). But this did not defeat Wormhole. In the past two years, Wormhole has built a relatively complete product and ecosystem, with more than 200 projects built on Wormhole. (Reference reading: From origin to evolution, understand the panoramic view of Wormhole in one article》）

In November 2023, Wormhole completed US$225 million in financing at a valuation of US$2.5 billion, with participation from Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dilectic, Borderless Capital, Arrington Capital, Jump Trading, etc.

2. Token Economics

W is the native ERC 20 token and the native Solana SPL token (the Solana Foundation released the SPL token standard token extension on the Solana network in January this year), with a total supply of 10 billion and an initial circulation of 18 Billion coins will be distributed on the Ethereum, Solana, Arbitrum, Optimism and Base networks. The remaining 82% of tokens (8.2 billion) will be locked at the initial issuance and will be unlocked within 4 years.

Wormhole on February 7Tokenomics announced for the first time, among which, 5.1% of the tokens (510 million) will be allocated to Guardian nodes, 17% (1.7 billion) will be allocated to the community and startup, and 31% (3.1 billion) will be used for the ecosystem and After incubation, 12% (1.2 billion coins) will be allocated to core contributors, 11.6% (1.16 billion coins) will be allocated to strategic network participants, and 23.3% (2.33 billion coins) will be allocated to the foundation treasury.

Please refer to the figure below for the token release schedule:

3. Airdrop distribution

Wormhole said that after anti-witches, 397,704 wallets were screened from more than 1 million independent wallets to receive 617,305,000 W tokens airdropped in the Community and Startup category, accounting for 6.17% of the total supply. %.

Airdrop standards:

The snapshot time of this airdrop is 07:59 on February 7, Beijing time. The evaluation of the airdrop standard refers to data from the past three years, based on the length of time that 1 million independent wallets have participated in the Wormhole protocol, the cumulative amount of cross-chain communications and transfer transactions, the consistency of use throughout the entire protocol life cycle, and the application within the ecosystem. Distributed based on participation in the program.

Which users are eligible for air investing:

• 500 million airdrops are allocated to on-chain users: users using Wormhole ecosystem applications on more than 30 Wormhole-connected blockchains; (see figure below for details)

• 117.305 million airdrops distributed to: Wormhole Discord users, Bad Kids holders, DeGods holders, Mad Lads holders, y00ts holders, Monad community and Pyth stakers.

According to community feedback, Mad Lads users who hold the W badge can receive 16,000 W airdrops, of which 3,200 W will be unlocked during TGE, and the remaining 12,800 W will be unlocked within one year; Yoots NFT holds Those who have the status can get 2,000 airdrops; Monad Discord status can get 8,000 airdrops; BadKids Holder can get 7,000 airdrops.

How to check airdrop

Users can inquire about W token airdrops through multiple portals.

First of all, Wormhole has launched the airdrop inquiry portaleligibility checker, users can separately query EVM, Solana, Sui, Aptos, Injective, Terra, Algorand, and Osmosis network addresses to claim airdrops, and support connecting to Discord accounts to check whether they meet community qualifications.

Airdrop query portal:http://airdrop.wormhole.com

Note: Sei, NEAR, Kujira and Evmos airdrops will be issued to the wallet of the other party in the cross-chain transaction.

Secondly, Jupiter has cooperated with Wormhole, and users can query and claim airdrops through Jupiter LFGs Claimpad.

website:https://lfg.jup.ag/w

Third, Phantom Wallet will send push notifications and banners to users who are eligible for airdrops. Users can click to inquire and claim, or they can visit Wormholes official airdrop inquiry portal in Phantom Explore.

4. How much is W worth?

As mentioned earlier, Wormhole completed US$225 million in financing with US$2.5 billion, and its initial supply was 1.8 billion, so the opening market price of W should be US$1.38.

Currently, according to Whales Market data, the Pre-Market price of W is now 1.86 USDT/coin.

also,News on February 29, according to the Bybit website, Wormhole (W) tokens will be officially issued on March 20. Bybit is now availablePre-market tradingOn line W, the last transaction price was 2.18 USDT, and the current lowest bid price is 1.99 USDT.