Cross-chain Protocol Wormhole to Airdrop 617M Tokens

Reported by Coindesk, cross-chain protocol Wormhole said on Wednesday it will airdrop over 617 million tokens to both users of "ecosystem applications" and "community users."

"This Wormhole airdrop is designed to acknowledge and reward the contributions of dedicated users and developers of multichain applications built on Wormhole, as well as community members who have played a significant role in development and engagement within the Wormhole ecosystem," the organization said in a blog post.

Wormhole also said the airdrop constitutes roughly 6% of the total token supply. The firm is airdropping to nearly 400,000 wallets, including 500 million tokens, to people who have "used Wormhole ecosystem applications" across the more than 30 "Wormhole-connected blockchains." In addition, another allotment of about 117 million tokens is for "community users, such as Wormhole Discord users, various NFT communities, Monad community, and Pyth stakers."

Last month, Wormhole announced that its W token will have a maximum supply of 10 billion, with an initial "circulating supply" of 1.8 billion. The tokens will be divided among the following groups: guardian nodes, community and launch, ecosystem and incubation, core contributors, strategic network participants and the foundation treasury.

The firm said it took a snapshot of on-chain activity on February 6 to determine eligibility for the airdrop.