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The Excitement Surrounding the W Governance Token Airdrop from Wormhole
The cryptocurrency community is currently buzzing with anticipation for the upcoming W governance token airdrop from Wormhole, a cross-chain protocol that spans across Solana, Ethereum, and other blockchain networks. However, there have been mixed reactions regarding the selection process of eligible wallets and the distribution of tokens to different users and communities.
In an effort to clarify any confusion surrounding the airdrop, Wormhole released an extensive post on Monday detailing the process behind the event. The post emphasized the team’s commitment to transparency and fairness in rewarding the protocol’s genuine users.
Rewarding Genuine Users and Community Groups
Wormhole’s primary goal was to reward users of the cross-chain protocol itself, followed by key multi-chain community groups. With more than 400,000 unique wallets now eligible for the airdrop, Wormhole collaborated with blockchain data platform Allium to ensure that authentic users were appropriately recognized and rewarded.
The distribution of W tokens varies among different community groups. For instance, holders of DeGods and y00ts NFTs will each receive 2,000 W tokens per NFT, up to a maximum of five NFTs, if they were verified through the Wormhole Discord server during the February 6 snapshot. In contrast, holders of Mad Lads NFTs on Solana will receive 16,000 W tokens, with a portion vested daily over the next year.
Mad Lads holders receive additional tokens due to their active involvement in building multichain products and supporting the growth of the protocol. The integration of Backpack and the vibrant Solana NFT community contributed to this decision.
Despite initial concerns from DeGods and y00ts holders regarding their eligibility for tokens, the expanded list of eligible wallets now includes these holders, reassuring them of their participation in the airdrop.
Market Price and Token Launch
As of now, the W token is trading at $1.58 on Whales Market, marking a decrease from $2.49 just a week ago. While the token launch timeframe has not been announced, the crypto community eagerly awaits further developments from Wormhole.
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