Wormhole Announces Upcoming Airdrop Details, Expands Recipient Categories
In Brief
Wormhole shared revised information about its upcoming airdrop, expanding the recipient group to multiple categories.
Cross-chain protocol Wormhole (W) provided information about its forthcoming airdrop. The qualification list for the airdrop has been revised, and the recipient group has been broadened to encompass multiple categories.
The number of eligible wallets surpassed 400,000, and the total airdrop supply amounted to 678,823,000, constituting 6.78% of the overall supply. On-chain users represent approximately 81% of the airdrop supply, equivalent to around 549 million W tokens, while community groups make up approximately 19% of the airdrop supply, totalling around 129 million W tokens. The snapshot was taken at 23:59 UTC on February 6.
Additionally, Wormhole reported that its contributors collaborated with external experts from Allium to implement Sybil detection technology. This measure is taken to ensure that legitimate Wormhole users are appropriately rewarded.
Since its launch, Wormhole has prioritized the distribution of rewards towards early adopters and ecosystem applications. Eligibility for rewards depended on users meeting a minimum cumulative value transferred requirement, calculated across all linked wallets. The raw value was adjusted based on scoring weights associated with factors such as timing, assets, chains, and other characteristics.
The median threshold, after adjustments, was approximately $1,500 in cumulative value, with lower thresholds for early and consistent users of the ecosystem protocol and higher thresholds for those who joined more recently.
User activity that remained consistent for three months or longer, activity conducted before December 1st, 2023, and during the period from June 2022 to October 2023, along with user activity during the first year of the mainnet launch, were all eligible for a bonus multiplier. Users with cumulative transactions surpassing $10,000 in value were also granted a bonus multiplier. Transactions involving a commonly used chain, Bitcoin, Ethereum, stablecoins, and other assets central to decentralized finance (DeFi), were assigned a bonus multiplier.
Wormhole Pioneers Advancements in Blockchain Interoperability
Established in 2020, Wormhole is a decentralized message-passing protocol connecting multiple blockchains. It facilitates developers and users of cross-chain applications, enabling them to leverage the advantages offered by multiple ecosystems. Last year, Wormhole raised $225 million, led by Brevan Howard, Coinbase Ventures, Multicoin Capital, and Jump Trading, achieving a valuation of $2.5 billion.
Recently, Wormhole began accepting inquiries for the airdrop, aiming to recognize and reward the contributions made by committed users and developers of multichain applications built on Wormhole. The airdrop also extends appreciation to community members who have played substantial roles in development and engagement within the Wormhole ecosystem.
Wormhole’s comprehensive approach to its upcoming airdrop reflects the protocol’s commitment to recognition and reward for contributors within its diverse ecosystem.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
