Wormhole’s W airdrop to ‘acknowledge and reward’ dedicated users

While a date was not included, Wormhole did divulge that 617 million W tokens will be allocated to the community


Wormhole and Adobe Stock modified by Blockworks


The interoperability platform Wormhole shared insights about its upcoming airdrop on Wednesday. This event is meant to expand its ecosystem through the strategic distribution of its new native currency — W tokens.

While the post stops short of providing a specific date, it does outline that a hefty allocation of tokens will go towards supporting community engagement and protocol use. The announcement states that 617 million tokens, or 6% of the total supply, “has been allocated from the Community & Launch category in connection with this airdrop across 397,704 wallets following anti-sybil measures.” 

“The airdrop included 500,000,000 W for on-chain activity for users who used Wormhole ecosystem applications across the 30+ Wormhole-connected blockchains, as well as approximately 117,305,000 W for community users, such as Wormhole Discord users, various NFT communities, Monad community and Pyth stakers,” the post continued

Read more: Wormhole goes multichain with native token transfers

The maximum supply of W will be 10 billion, though it’ll only circulate 1.8 billion initially.

Airdrops are utilized to reward users for being active in communities. Tokens or coins are generally dropped into user wallets as part of the event.

The cross-chain messaging platform added that it determined the eligibility for the airdrop based on each user’s length of engagement with the protocol, and “the cumulative volume of messages and transfers, and consistency of use throughout the protocol’s lifespan, as well as participation in applications within the ecosystem.”

Wednesday’s post added that the protocol plans to make W the governance token for its yet-to-launch Wormhole DAO.

“Over time, Wormhole plans to progressively decentralize the protocol’s governance to W holders. After the token generation and distribution events, on-chain governance will largely guide community programs and treasury-related activities,” a post from early February explained. 

Read more: Wormhole: Cross-chain messaging layer

It added that it expects the DAO to take “more responsibility” for actions and listed token design and smart contract upgrades to a list of decisions.

Wormhole has a few open-source protocols: Wormhole messaging, Connect and SDK, Queries and Gateway. Messaging is a cross-chain messaging protocol, which has handled over a billion cross-chain messages for various teams.  

Read more: 3 DAO governance trends to watch in 2024

“Wormhole was designed as a cross-chain token wrapping and swapping protocol between Solana and Ethereum. Since this original design and implementation, Wormhole has expanded to become a cross-chain messaging layer, which not only allows token wrapping and swapping between chains but also enables external protocols to build on top of it by leveraging Wormhole’s cross-chain state attestation model and messaging,” Blockworks Research wrote.

The cross-chain protocol has a $2.5 billion valuation as of November of last year after raising $225 million. Late last year, Wormhole’s Saeed Badreg and Anthony Ramirez split from Jump Crypto to run the protocol independently

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

ao cover.jpg


Arweave recently launched the testnet for AO computer, a new messaging protocol that will sit atop a PoS network and aims to become a scalable global compute platform through parallel processing and modularity.


The “fastest-growing ETF in history” has seen net inflows on every trading day since its Jan. 11 launch


Relm and Chainproof will provide insurance quotes to distributed validators


DLC.Link uses a Taproot-based Bitcoin multisig to let institutions mint dlcBTC, starting on Arbitrum


Pre-seed Bitcoin startup deals rose 360% in 2023, a TVP report shows


Circle’s new smart contract to allow holders of BlackRock USD Institutional Digital Liquidity Fund to redeem shares for its stablecoin


Uniswap says it was not surprised to receive a Wells notice given the SEC’s “abusive” use of power as of late