Wormhole $617M Airdrop Ignites Valuation Surge To $3B, But W Price Stumbles 23%
Summary
Wormhole launched an airdrop campaign for its governance token, W, rewarding early users with 617 million W tokens. The protocol aims to become a native multi-chain token, leveraging Solana and Ethereum Virtual Machine chains. It introduced a governance system allowing token holders to create, vote on, and implement proposals. Despite challenges, including a significant hack, the W token has been listed on major exchanges and experienced fluctuations in market capitalization and trading volume.
