Wormhole Native Token W Will Reserve 11% to Airdrop To Users Before Launch

Key Points:

• Wormhole protocol unveils Wormhole native token W details: 10 billion max supply, 1.8 billion initial circulation, and a distribution plan.
• 11% token airdrop for the community, with immediate access post-TGE; 82% initially locked, released over four years.

Cross-chain bridge protocol Wormhole has unveiled the token economics for the Wormhole native token, W, announcing a maximum supply of 10 billion tokens with an initial circulating supply of 1.8 billion.

Read more: Wormhole Review: The Most Powerful Cross-chain Bridge Protocol

Wormhole Native Token W Introduced: Supply and Distribution Details

The distribution plan includes allocations for guardian nodes, community and launch, ecosystem and incubation, core contributors, strategic network participants, and the foundation treasury.

Of particular note, Wormhole has earmarked 11% of tokens for community airdrops, with this allocation immediately accessible upon the Wormhole native token generation event (TGE). The remaining 6% will be locked in for four months post-TGE.

Furthermore, 82% of tokens are set to be initially locked and gradually released over four years. The protocol will utilize native ERC-20 and SPL token formats, facilitating interoperability across various blockchains.

In November, Wormhole concluded a $225 million funding round, achieving a valuation of $2.5 billion, with prominent backers including Brevan Howard, Coinbase Ventures, and Multicoin Capital.

Navigating Challenges Amid Continued Cross-Chain Innovation

Wormhole, previously associated with Jump Trading, notably suffered a $323 million hack in 2022, one of the largest in decentralized finance history. Despite this setback, the protocol continues to play a vital role in facilitating cross-chain transactions, enabling the seamless transfer of digital assets between disparate blockchains.

While airdrops are often associated with early-stage projects, the project’s delayed Wormhole native token launch reflects its unique trajectory, having operated for over 876 days before announcing an airdrop. This move towards decentralization and liquidity through tokenization marks a critical juncture for the project, particularly following Jump Trading’s departure in November.

Since its inception, Wormhole has emerged as a pivotal piece of infrastructure, facilitating cross-chain transactions across various blockchains, including Solana.