Wormhole Airdrop Attracts Scammers as Native Governance Token Launches
The extremely anticipated $850 million airdrop occasion by cross-chain bridging platform Wormhole has drawn the eye of crypto scammers.
The W token was formally launched on April 3 on the Solana-based decentralized trade, OpenBook, with an preliminary worth of $1.66. Nevertheless, the token’s worth has dipped and is at present buying and selling at $1.21, with a market capitalization of $2.17 billion. W additionally launched on the highest centralized exchanges like Binance, OKX and Bybit, and noticed over $1.58 billion in buying and selling quantity in its first day, making it the twelfth most traded token.
As a part of the airdrop, Wormhole allotted 674 million tokens, equal to six.75% of the overall provide, to eligible individuals. This places the overall worth of the airdrop at $896 million for many who met the airdrop necessities. Whereas the W token is at present out there solely on the Solana community, Wormhole plans to make it accessible on the Ethereum community as an ERC-20 token and different layer-2 networks sooner or later.
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