(Confirmed) Wormhole Guide and Airdrop: How to be Eligible
Update – March 7, 2024: Wormhole confirms airdrop to users. Here are the ways to find out if you are eligible to receive the W token.
Update March 7, 2024:
- Wormhole protocol announces “W”, advancing towards further decentralization with a launch airdrop.
- “W” has a total supply of 10 billion tokens, with 1.8 billion initially circulating in ERC20 and SPL formats across Ethereum, Solana, Arbitrum, Optimism, and Base chains.
- Allocation of W tokens spans six categories: Guardian Nodes, Community & Launch, Core Contributors, Ecosystem & Incubation, Strategic Network Participants, and Foundation Treasury, with 82% locked and unlocking over four years.
- W leverages Wormhole’s Native Token Transfers (NTT) for seamless multichain transfers, being both a native Solana SPL and ERC20 token.
- 6.17% of the W supply, amounting to 617,305,000 tokens, is designated for the airdrop to 397,704 wallets with anti-sybil measures, targeting users of the Wormhole ecosystem and community members.
- The airdrop acknowledges users and developers of multichain applications and community members who significantly contributed to the Wormhole ecosystem. A snapshot for eligibility was taken on February 6, 2024.
- Eligibility for the airdrop includes those who’ve interacted with Wormhole ecosystem chains, applications, or community, with priority given to length of engagement, volume of activity, and consistent use, as well as participation within the ecosystem.
- A comprehensive data assessment spanning nearly three years was used to determine eligibility, focusing on engagement and interaction within Wormhole’s decentralized app ecosystem.
- Find out if you are eligible here.
Ever wonder how to use non-native tokens on other blockchains?
For instance, using $ETH in the Solana blockchain.
There exists a bridge called Wormhole.
In this guide, we will learn what Wormhole is and airdrop strategy.
(Read more: Ultimate Guide to Solana Airdrops 2024 and 20+ Potential Crypto Airdrops to Watch Out For in 2024)
(Also read: Solana Airdrop Checker Tool Guide To Check If Your Wallet is Eligible)
Table of Contents
Wormhole Introduction
Wormhole is a generic message-passing protocol that lets users of cross-chain applications built by developers enjoy the benefits of multiple ecosystems.
It is primarily built for developers, so they can build dApps that allow deposits from any Wormhole-connected chain, increasing the liquidity their users can access.
It can also be used by NFT projects to serve as the bridge between different voting chains in the community; most specifically, if a group of NFT collections on different networks wanted their holders to vote on a combined proposal, they could pick a “voting” chain using the protocol.
Lastly, it is beneficial for users who hold Ethereum-based tokens and want to use Solana-based dApps, as they can convert these tokens to be compatible with the Solana ecosystem. Note: and other network-based tokens also.
Wormhole Features
To bridge tokens using Wormhole:
Step 1: Go to https://www.wormholebridge.com/#/move.
Step 2: Choose the input and outwork networks and connect the wallets based on those networks. Wallets like MetaMask for Ethereum and Phantom for Solana are supported.
Step 3: Choose the asset or token to be bridged.
Step 4: Type in the desired amount of tokens to be bridged.
Step 5: Click the “Transfer” button.
Step 6: Allow an authorization form that will pop out. The message states that the user is allowing Wormhole to transfer the token from one wallet to another and automatically does it.
Step 7: Confirm the transaction.
Update – Feb. 2024: Wormhole Airdrop Guide and Strategy
On February 7, 2024, Wormhole confirmed that it is launching its native token, $W, both an ERC-20 and SPL-compatible token. It has a maximum supply of 10 billion tokens and only 1.8 billion will be unlocked on its token event. The remaining locked tokens will be released per schedule over four years.
As it launches its token, the tokenomics and the distribution information for $W were also released.
And 17% of the total tokens, or 1.7 billion, are allocated for the token launch event and community rewards.
During the token event, 1.1 billion $W will be unlocked while the remaining tokens will be unlocked four months later.
The initial phase, which was expected to start alongside the token launch, will include a TGE-related airdrop and rewards programs.
“The Community has been allocated 17% of the token supply. Wormhole wouldn’t be possible without a thriving community of supporters. The snapshot for this airdrop has been taken before the publishing of this blog,” the team explained.
However, Wormhole did not specify how to be eligible for its upcoming airdrop. The community still speculates that those who earned enough points for its Zealy Quests, used Wormhole’s bridge functionality, and early users are qualified.
The team also stressed that they have already recorded the eligible wallets for the airdrop and are set to distribute the rewards in the upcoming months.
For tasks related to following its social media accounts:
- Follow @wormholecrypto on Twitter (40 xp)
- Join the Wormhole Discord (100 xp)
- Follow Wormhole on LinkedIn (100 xp)
- Subscribe to Wormhole’s YouTube Channel (100 xp)
- Visit the Wormhole Blog (30 xp)
- Visit the Wormhole Website (100 xp)
- Follow Wormhole Labs on Twitter (100 xp)
- Follow xLabs on Twitter (100 xp)
- Follow Wormhole Foundation on Twitter (100 xp)
- Follow Wormhole China on Twitter (100 xp)
Aside from these tasks, there are also 10 questions about the basics of Wormhole, worth 100 xp each.
Inviting friends or referrals is also listed as task and a daily connect quest.
Lastly, there are special tasks like following Mad Lads (100 xp) , downloading BackPack! (250 xp) and unlocking a “MAD” Discord role (999 xp).
This article is published on BitPinas: Wormhole Guide and Possible Airdrop Strategy
Disclaimer:
- Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
- BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.
