Wormhole Unveils Airdrop Details—Here's What You Need to Know

Cross-chain protocol Wormhole has announced more details about the upcoming launch and airdrop for its W governance token. Users across Ethereum, Solana, and numerous other blockchains, along with certain community projects, can claim it.

Ultimately, the airdrop will be offered to nearly 400,000 unique wallets across its “community and launch” category, with 617.3 million W tokens allocated for those users.

Of that total, 500 million tokens will be handed out to crypto users who have utilized a Wormhole application across more than 30 eligible chains, with the remainder offered to users across other applications and crypto communities.

Wormhole launched an airdrop eligibility checker for users to see if their wallet(s) are eligible for the impending drop. No date for the airdrop claim has been announced. W is a cross-chain token that will be available as both a native Solana SPL20 token and an Ethereum ERC-20 token and will be available across those chains along with Base, Arbitrum, and Optimism.

The list of 30+ blockchains includes both Solana and Ethereum, of course, but also networks like Avalanche, Aptos, BNB Chain, and Sui. It also includes Ethereum scaling networks like Arbitrum, Base, Optimism, and Polygon.

Meanwhile, the list of eligible apps includes Solana wallet and exchange Backpack and DeFi aggregator Jupiter, among others. The NFT projects Mad Lads, DeGods, and y00ts are also on the list, along with Wormhole Discord users and those from other communities.

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Portal Airdrop Begins as Ethereum Gaming Token Hits $425 Million Market Cap

Gaming token and cross-chain platform Portal made its long-awaited debut early Thursday, rewarding airdrop farmers and Binance token stakers ahead of launching staking rewards and rolling out other features. PORTAL, minted on Ethereum, is currently priced at $2.54 per token according to data from CoinGecko, with just over 167 million tokens currently on the market—nearly 17% of the total supply of 1 billion tokens. That puts the market cap at about $425 million as of this writing. Newly launched...

Pre-market trading for the W token has grown substantially in recent days, with token claims selling for $2.49 apiece as of Monday. If the estimated value proves accurate, this category of the airdrop would be worth above $1.5 billion, with the market cap of the initial circulating supply of 1.8 billion tokens potentially valued at nearly $4.5 billion.

Edited by Ryan Ozawa.