Interoperability platform Wormhole allows users to claim the token airdrop today at 7:30 AM ET.
Nearly 400,000 wallets are eligible for a total of 678,823,000 Wormhole tokens, accounting for 6.78% of the total supply of 10 billion.
This is based on a February 6 snapshot of users of the project’s Portal Bridge and ecosystem apps across 30 Wormhole-connected blockchains.
Of the airdrop allocation, 117 million tokens will go to holders of Wormhole Discord members, select Monad community members, Pyth stakers, and holders of NFT collections including Bad Kids, DeGods, Mad Lads, and y00ts who were also registered on the Discord of the project.
The token is a native ERC20 token and a native Solana SPL token, with an estimated initial circulating supply of 1.8 billion.
Following the airdrop claims, the token is expected to appear on exchanges (both centralized and decentralized). Binance will list the token for trading at 8:00 PM ET, linking it to bitcoin and stablecoins. Solana-based decentralized exchanges will also have the token available for swaps immediately after airdrop claims begin.
The token is currently trading at more than $1.5 in pre-launch markets such as HyperLiquid and Aevo, giving it a fully diluted valuation of $15 billion.
What is wormhole?
Wormhole is a communications protocol that allows users to move tokens and data across chains. Recently, the company has embraced the integration of zero-knowledge proofs into the platform, developing ‘light client’ implementations for secure cross-chain transfers using ZKPs. The goal is to create secure ‘corridors’ between blockchains for messaging.
Wormhole’s plan is to create secure communication channels across major blockchains, including Ethereum, Near, Solana, Aptos, Sui, and Cosmos, while addressing scaling issues associated with proof generation and verification in the light clients via AMD potato chips.
The project is also working on Gateway, an application-specific blockchain within the Cosmos ecosystem. Wormhole closed a $225 million funding round last year, giving it a $2.5 billion valuation.
