#Wormhole which alot of people has speculated about for the most of Q3 - Q4 in 2023 for an airdrop has finally released details about their own token, tokenomics,and airdrop for community incentives.
Wormhole's token is called $W and its a native Solana SPL token and an EVM ERC20 token, it can be both because it leverages their (Wormhole) Native Token Transfer to allow it to be seamlessly transfered to any #Wormhole connected network.
It's initial circulating supply will be 1.8 trillion with a 10 trillion max supply. The vesting period and lock details are that 82% of the initial supply will be locked and unlocked over 4 years.
For the airdrop farmers, 17% or 1.7 Trillion of $W will be allocated to the community (or airdrops), 11% or 1.1 Trillion of $W will be unlocked at TGE and the remaining 6% will be unlocked over 4 months after TGE.
In addition to all of this, #Wormhole has also dedicated a DAO for voting and proposals to deal with responsibilities and actions such as
- Adding and removing blockchain connections to Wormhole
- Upgrading smart contracts across Wormhole
- Adjusting fees across various products of Wormhole
- Expanding or adding new parties to the Guardian set (Guardian nodes and responsibilities not explained in this article.)
- Adjusting rate limits
- Token utility and design
Accordingly, the DAO will be making a comprehensive decentralized roadmap that is contributed by Core Contributors and the community.
My thoughts:
Another airdrop farmed and done, onto the next one. I personally think Wormhole has a bright future ahead of them due to the narrative of a fully integrated multi-chain system that can go cross-chain easily. This is something that I have been asking for and waiting for, happy to see we finally have more interoperability in this space and I think interoperability is the future for blockchain technology anyways.
Regards, ElvianElvy
