Wormhole, a popular bridge connecting various blockchains, announced an airdrop of its “W” token.
Though no exact date is set, a snapshot of eligible wallets has already been taken. Wormhole plans to distribute 10 billion W tokens over four years, with an initial release of 1.8 billion.
The remaining 82% will unlock gradually. According to the blog post, this is a crucial step towards decentralization and a permissionless future.
Wormhole will airdrop 17% of the supply to its community, 12% to core contributors, 11.6% to strategic network partners and 5.1% to guardian nodes. It plans to set aside 31% for maintaining its ecosystem and 23.3% for its foundation treasury.
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For the community, a large chunk of their tokens will be available immediately, with the rest vesting after four months.
Wormhole allows users to transfer assets across networks, initially starting with Ethereum and Solana, and now encompassing nearly 30 different blockchains.
In November last year, they raised $225 million in funding from Coinbase Ventures, Multicoin Capital, Jump Trading and more, valuing the company at an impressive $2.5 billion.
The airdrop aims to decentralize the cross-chain platform, giving governance to holders and allowing the community to have a say in future developments.
Excitement is already brewing, with perpetual futures contracts for W popping up, mirroring the hype surrounding Jupiter’s recent JUP airdrop.
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