Wormhole Cross-Chain Airdrop Announced: Eligible Across Solana, Ethereum and Others!

Key Takeaways:

• Wormhole’s Cross-Chain Airdrop: Wormhole’s governance token, W, is set for launch with an airdrop across Ethereum, Solana, and various blockchains.
• Wide Community Inclusion: Nearly 400,000 unique wallets are eligible for the airdrop, spanning users across 30+ chains and various applications, including NFT projects and community members.
• Airdrop Allocation: A total of 617.3 million W tokens will be distributed, with 500 million going to users of Wormhole applications on over 30 chains and the rest to users across different applications and communities.
• Dual Chain Availability: W will be accessible as both a native Solana SPL20 token and an Ethereum ERC-20 token, providing flexibility across these popular chains.
• Market Impact: Pre-market trading for the W token has surged, with estimated values suggesting the airdrop category could be valued above $1.5 billion, potentially leading to a substantial market cap for the initial circulating supply.

In a significant move for the crypto community, Wormhole, the cross-chain protocol, has disclosed crucial details about the impending launch and airdrop of its W governance token, set to span across Ethereum, Solana, and various other blockchains. This eagerly anticipated announcement, made by Wormhole, opens doors for users across different blockchain ecosystems, as well as select community projects, to partake in the upcoming airdrop.

Enter the Wormhole.https://t.co/GxyfY14PyL pic.twitter.com/qlQBAjqjcO

— Wormhole (@wormholecrypto) March 6, 2024

The forthcoming airdrop is set to cater to a substantial audience, with nearly 400,000 unique wallets falling under the “community and launch” category being eligible to claim a share of the 617.3 million allocated W tokens. Among this allocation, 500 million tokens are earmarked for crypto enthusiasts who have engaged with a Wormhole application on over 30 eligible chains. The remaining tokens will be distributed among users involved in diverse applications and crypto communities.

To facilitate a seamless process for users to check their eligibility, Wormhole has introduced an airdrop eligibility checker for wallets. However, the official date for users to claim their airdrop remains undisclosed as of now. The W token, characterized as a cross-chain asset, will be accessible as both a native Solana SPL20 token and an Ethereum ERC-20 token, ensuring compatibility and availability across multiple chains, including Base, Arbitrum, and Optimism.

The extensive list of over 30 blockchains includes major players like Solana and Ethereum, as expected. It also encompasses other networks such as Avalanche, Aptos, BNB Chain, and Sui. Notably, Ethereum scaling networks like Arbitrum, Base, Optimism, and Polygon are part of this diverse lineup.

Furthermore, the eligibility criteria extend to a variety of applications, including the Solana wallet and exchange Backpack, and the DeFi aggregator Jupiter, among others. NFT projects such as Mad Lads, DeGods, and y00ts, along with Wormhole Discord users and members from other communities, are also included in the list of eligible participants.

Read More: How to Claim Solana Airdrops?

The pre-market trading activity for the W token has witnessed a substantial surge in recent days. With token claims currently trading at $2.49 each as of Monday, the estimated value suggests that this segment of the airdrop could surpass $1.5 billion. If this valuation holds true, the market cap of the initial circulating supply of 1.8 billion tokens could potentially reach nearly $4.5 billion, indicating significant market enthusiasm for Wormhole’s W token.

As the crypto community eagerly awaits the official announcement of the airdrop claim date, the excitement and interest surrounding Wormhole’s W token continue to grow, underscoring the substantial impact it could have across multiple blockchain ecosystems.

Source: Decrypt