Wormhole, the cross-chain protocol, has revealed plans for an airdrop of its native token, W. The protocol disclosed that 82% of these tokens will initially be locked, gradually unlocking over a four-year period.
In its latest announcement, Wormhole introduced an airdrop for its W token, featuring a maximum supply of 10 billion. The initial “circulating supply” is set at 1.8 billion, and the distribution will be allocated to various categories, including guardian nodes, community and launch, ecosystem and incubation, core contributors, strategic network participants, and the foundation treasury.
Emphasizing the utilization of native ERC-20 and SPL token formats, the protocol highlighted its commitment to transparency and security in the web3 landscape. Wormhole has facilitated nearly 1 billion multichain messages for prominent applications like Uniswap, Circle, and Lido.
Furthermore, the protocol shared its vision to progressively decentralize governance to W holders, asserting that on-chain governance will guide community programs and treasury-related activities post-token generation and distribution events. Wormhole, which closed a $225 million funding round in November with a valuation of $2.5 billion, envisions empowering its community to actively contribute to critical areas with necessary resources and support. Notably, Wormhole’s move towards decentralized governance marks a significant step in enhancing community involvement and ownership.
