Wormhole to Airdrop 617M W Tokens to Past Users

Token bridging service Wormhole confirmed its plans to release a W token on Wednesday, pledging to distribute 617 million tokens, or 6% of the token's total supply, to past users. The W token is set to become a governance asset the holders of which will vote within Wormhole DAO, a yet-to-launch entity that will make decisions for the platform, like how much to charge in fees. W will launch natively on the Solana and Ethereum networks, according to a webpage released Wednesday, which did not include a date. The upcoming airdrop appears to mirror that of Pyth – a fellow Jump Capital-linked crypto project that acts as a data bridge for blockchains – in many respects.

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