Wormhole Clarifies Reasons Behind Users Acquiring More Airdrop Tokens

Wormhole Clarifies Reasons Behind Users Acquiring More Airdrop Tokens

Wormhole explains who is acquiring the biggest share of W tokens and why Mad Lads NFT holders acquire eight times the DeGods tokens.

The crypto is upbeat over the imminent W governance token airdrop from Wormhole, a cross-chain protocol. The qualified wallets span Ethereum, Solana, and beyond. However, the wallet selection process and the number of tokens allocated to certain communities or users do not excite everyone. 

Wormhole Eliminates Uncertainty Regarding Airdrops

To eliminate doubts regarding the airdrop, Wormhole published a detailed post on March 11 recording the imminent event, explaining the process behind it. 

According to the post, Wormhole contributors sought to plan a democratic airdrop to exploit the chance of rewarding the protocol’s real users. It also noted that ‘the transparency spirit and hope of developing a new standard for how projects communicate airdrop to users’ evoked the need to offer the breakdown.

The team claimed that Wormhole sought ‘most notably’ to reward the cross-chain protocol users itself and later introduce ‘crucial multichain community groups.’ The project’s revised details show that more than 400,000 special wallets are currently eligible. These numbers were just below the previous week’s mark. 

Wormhole claims it partnered with blockchain information, with aid from Allium, a data platform, to ‘ensure proper rewarding of authentic Wormhole users.’ 

Wormhole was unveiled in 2020, and the team noted that the airdrop is ‘significantly distorted’ towards gratifying active and early users over the long haul. Besides, the team also offered bonuses to persons who transacted during the bear market between June 2022 and November last year, alongside users who utilized Wormhole constantly for three months or more. 

Variation in W Tokens Allocation Explained

Concerning community groups, there are different variations in the number of assigned W tokens. For instance, each DeGods and y00ts nonfungible tokens (NFTs) holder will get 2000 W tokens per nonfungible token. 

In addition, they will acquire up to five in case of verification through the Wormhole Discord server when the February 6 snapshot was captured. All tokens will be available on the first day of the imminent airdrop. 

Each Mad Lads NFTs holder on Solana will get 16000 W tokens, though there is a catch. In this case, only 3200 tokens will be available to every user on the first day, while the rest will be available every day over the next year. People question why Mad Lab holders finally acquire more tokens than DeGods and y00ts holders. 

Wormhole Contributors Developing Multichain Products

According to the post, the team behind Backpack and the Mad Labs nonfungible token portfolio has closely partnered with Wormhole Contributors to develop multichain products and to aid in the protocol’s growth. Backpack provides in-wallet cross-chain movement through Wormhole holders and Mad Labs holders, some of the most lively Solana nonfungible token communities. 

DeGods and y00ts holders must currently be able to verify they are receiving tokens. Previously, several holders claimed they did not seem to be eligible. However, the Wormhole post shows that the extended wallet tally entails DeGods/y00ts owners and other qualified token receivers.

The W token is trading at $1.58 in pre-market trading through Whales Market, a drop from $2.49 the previous week. The actual token unveiling’s timeframe is yet to be revealed. 

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Eric Lozano
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Eric Lozano

Eric Lozano, a notable expert in crypto journalism, possesses a keen eye for blockchain trends and digital currency analysis. His articles delve deep, elucidating complex crypto topics with precision and flair. As the crypto realm expands, Eric remains an influential and trusted voice for enthusiasts and professionals alike

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