Wormhole Announces Launch Details for Anticipated W Token and Exchange Listings

Wormhole, a renowned cross-chain protocol, is launching its W governance token on "Wormhole Wednesday" (April 3rd). Following the airdrop claim, several exchanges (e.g., Bitget, OKX) plan to list the token for trading at 12 pm UTC. With an airdrop worth 617.3 million tokens and a pre-market trading price of $1.65, W is expected to enter the market with a capitalization of around $3 billion, potentially ranking among the top 50 cryptocurrencies.

Wormhole Unveils Launch Details for Anticipated W Governance Token and Exchange Listings

New York, March 29, 2024 - Wormhole, a prominent cross-chain protocol, has announced the imminent launch of its eagerly awaited W governance token. The launch is accompanied by multiple crypto exchanges confirming their plans to list the token for spot trading shortly after the airdrop becomes accessible to eligible users.

Airdrop Distribution and Tokenomics

Wormhole previously divulged the specifics of the W token airdrop, specifying that over 400,000 wallets would be entitled to participate. A significant pool of 617.3 million W tokens has been designated for the initial airdrop, aimed at the community and ecosystem. This allocation benefits early adopters across various blockchain networks, including Solana, Ethereum, and others, as well as diverse crypto communities.

Launch Date and Exchange Listings

The commencement of the airdrop claim process has been scheduled for 11:30 am UTC on April 3, 2024, dubbed "Wormhole Wednesday."

Subsequently, exchanges including Bitget, OKX, Backpack, and Gate.io have announced their intentions to list the W token for trading at 12 pm UTC on the launch day. Additional platforms are anticipated to join the lineup.

Cross-Chain Compatibility and Market Potential

The launch of the W token is poised to be a significant event in the cryptocurrency industry this year, given Wormhole's established position in the sector. Initially introduced as a Solana SPL20 token, plans are in progress to expand support to the Ethereum ERC-20 token standard, emphasizing Wormhole's cross-chain capabilities.

As of pre-market trading on Whales Market, W tokens are valued at $1.65. Wormhole has disclosed that 1.8 billion tokens will be in circulation at launch, forming part of a total supply of 10 billion.

Assuming the pre-market price remains consistent until launch, the token could enter the market with a market capitalization close to $3 billion, potentially placing it among the top 50 cryptocurrencies according to CoinGecko's rankings.

Driving Cross-Chain Liquidity

Wormhole's W token is expected to play a pivotal role in facilitating cross-chain liquidity, enabling seamless movement of assets across different blockchain networks. This capability is anticipated to enhance the overall efficiency and accessibility of the cryptocurrency ecosystem.

Media Contact

For further inquiries, media representatives are encouraged to contact:

Wormhole Media Relations
media@wormhole.net