Wormhole Airdrop Starts as Solana Token Hits $3 Billion Market Value
On Wednesday, the W token, part of the cross-chain protocol Wormhole, was introduced to the market with an initial price surge, reaching $1.66, followed by a substantial decline. Presently, the value of W has settled at $1.31, reflecting a notable decrease of 20% within the day. Let’s take a look at this Wormhole airdrop article.
Wormhole Airdrop: Wormhole Protocol Shares Its Plan Ahead
Wormhole, a protocol facilitating cross-chain communication for asset transfer between various blockchains, has recently initiated an airdrop campaign to distribute its newly issued governance token, W. Early adopters were granted 617 million W tokens as incentives. Concurrently, the protocol has unveiled a comprehensive roadmap delineating its strategic objectives and developmental trajectory.
As per the roadmap provided by the protocol, W endeavors to evolve into a native multi-chain token, harnessing the strengths of both the Solana and Ethereum Virtual Machine (EVM) chains.
Initially introduced as a native SPL token on the Solana blockchain, W is poised to exploit Solana’s capabilities, delivering enhanced performance, scalability, minimal transaction fees, and rapid settlement durations.
Following its introduction on Solana, W will be expanded to encompass all Wormhole-connected EVM chains through the utilization of Wormhole Native Token Transfers (NTT). This innovative framework enables the seamless propagation of W across Solana, the Ethereum mainnet, and Layer 2 (L2s) solutions, thereby mitigating liquidity fragmentation concerns.
The NTT framework, being open-source, empowers projects to govern token functionality on each respective chain. This governance includes the management of token standards, metadata, ownership/upgradability attributes, and the implementation of custom features tailored to specific project requirements.
>>Master Guide to Must-Know Airdrops in 2024: Your Path to Become a Crypto Millionnaire<<
Wormhole Airdrop: A Simple Guide to Cross-Chain Management
Wormhole introduces a governance framework wherein token holders across various chains can propose, vote on, and enact governance measures. This model fosters widespread engagement in the Decentralized Autonomous Organization (DAO) by ensuring a seamless experience for token holders operating on different chains.
In line with this, W token holders are enabled to lock and delegate their tokens on both Solana and EVM chains, enabling their active involvement in governance procedures. The Wormhole DAO, comprising W token holders, is entrusted with overseeing governance across Solana, Ethereum mainnet, and EVM L2s.
Developed by Jump Crypto, a division of Jump Trading Group, Wormhole has undergone continuous development over the years, despite encountering obstacles such as a significant hack in February 2022 resulting in a loss of approximately $320 million.
Moreover, the recent listing of the W token on prominent exchanges, coupled with the forthcoming support by Coinbase on April 4, serves to affirm its developmental trajectory.
Wormhole Airdrop: W’s First Appearance on OpenBook
The W token first appeared on the Solana-based decentralized exchange (DEX) OpenBook at $1.66. At that time, its market capitalization was $2.98 billion, and its fully diluted value was $16.5 billion.
But now, the token’s market capitalization and fully diluted value have dropped to $2.2 billion and $12.5 billion, respectively, according to the latest data from CoinmarketCap. However, the trading volume for W has skyrocketed, reaching $555,937,593 in the last 24 hours, which is an astounding surge of 25,732,359.60%.
>>Master Guide to Must-Know Airdrops in 2024: Your Path to Become a Crypto Millionnaire<<
Buy Cryptos with Bitget with the CHEAPEST Fees
Bitget stands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started with Bitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.
—> CLICK HERE TO BUY CRYPTOCURRENCY<—
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Wormhole Airdrop Starts as Solana Token Hits $3 Billion Market Value
On Wednesday, the W token, part of the cross-chain protocol Wormhole, was introduced to the market with an initial price surge, reaching $1.66, followed by a substantial decline. Presently, the value of W has settled at $1.31, reflecting a notable decrease of 20% within the day. Let’s take a look at this Wormhole airdrop article.
Wormhole Airdrop: Wormhole Protocol Shares Its Plan Ahead
Wormhole, a protocol facilitating cross-chain communication for asset transfer between various blockchains, has recently initiated an airdrop campaign to distribute its newly issued governance token, W. Early adopters were granted 617 million W tokens as incentives. Concurrently, the protocol has unveiled a comprehensive roadmap delineating its strategic objectives and developmental trajectory.
As per the roadmap provided by the protocol, W endeavors to evolve into a native multi-chain token, harnessing the strengths of both the Solana and Ethereum Virtual Machine (EVM) chains.
Initially introduced as a native SPL token on the Solana blockchain, W is poised to exploit Solana’s capabilities, delivering enhanced performance, scalability, minimal transaction fees, and rapid settlement durations.
Following its introduction on Solana, W will be expanded to encompass all Wormhole-connected EVM chains through the utilization of Wormhole Native Token Transfers (NTT). This innovative framework enables the seamless propagation of W across Solana, the Ethereum mainnet, and Layer 2 (L2s) solutions, thereby mitigating liquidity fragmentation concerns.
The NTT framework, being open-source, empowers projects to govern token functionality on each respective chain. This governance includes the management of token standards, metadata, ownership/upgradability attributes, and the implementation of custom features tailored to specific project requirements.
>>Master Guide to Must-Know Airdrops in 2024: Your Path to Become a Crypto Millionnaire<<
Wormhole Airdrop: A Simple Guide to Cross-Chain Management
Wormhole introduces a governance framework wherein token holders across various chains can propose, vote on, and enact governance measures. This model fosters widespread engagement in the Decentralized Autonomous Organization (DAO) by ensuring a seamless experience for token holders operating on different chains.
In line with this, W token holders are enabled to lock and delegate their tokens on both Solana and EVM chains, enabling their active involvement in governance procedures. The Wormhole DAO, comprising W token holders, is entrusted with overseeing governance across Solana, Ethereum mainnet, and EVM L2s.
Developed by Jump Crypto, a division of Jump Trading Group, Wormhole has undergone continuous development over the years, despite encountering obstacles such as a significant hack in February 2022 resulting in a loss of approximately $320 million.
Moreover, the recent listing of the W token on prominent exchanges, coupled with the forthcoming support by Coinbase on April 4, serves to affirm its developmental trajectory.
Wormhole Airdrop: W’s First Appearance on OpenBook
The W token first appeared on the Solana-based decentralized exchange (DEX) OpenBook at $1.66. At that time, its market capitalization was $2.98 billion, and its fully diluted value was $16.5 billion.
But now, the token’s market capitalization and fully diluted value have dropped to $2.2 billion and $12.5 billion, respectively, according to the latest data from CoinmarketCap. However, the trading volume for W has skyrocketed, reaching $555,937,593 in the last 24 hours, which is an astounding surge of 25,732,359.60%.
>>Master Guide to Must-Know Airdrops in 2024: Your Path to Become a Crypto Millionnaire<<
Buy Cryptos with Bitget with the CHEAPEST Fees
Bitget stands out as a reliable crypto exchange. It provides a user-friendly interface, making it easy for both beginners and experienced traders to navigate and make transactions at the lowest fees on the market. To get started with Bitget, you need to create an account, complete the necessary KYC procedures, and then you can begin trading a variety of altcoins available on the platform.
—> CLICK HERE TO BUY CRYPTOCURRENCY<—
Read More
JUP Holders Panic Sell After 80% Crash – Dead or Buying Opportunity?