Wormhole, the cross-chain protocol thrust into the spotlight following the 2022 Ethereum hacking incident involving 120,000 ETH, has unveiled plans to introduce its native tokens and conduct an airdrop for the W token.
According to Wormhole’s announcement, 82% of the W tokens slated for issuance will initially be locked and subsequently distributed through an airdrop spanning four years. The protocol further revealed that the W token will debut with an initial circulating supply of 1.8 billion tokens, with a maximum supply capped at 10 billion.
Experts analyzing Wormhole’s latest initiative view the introduction of the W Token airdrop as a strategic move towards greater decentralization. In a significant development last November, Wormhole concluded a $225 million fundraising round, reaching a valuation of $2.5 billion.
Key participants in the financing round included prominent entities such as Brevan Howard, Coinbase Ventures, Multicoin Capital, and Jump Trading.
*Please note that this information does not constitute investment advice.
