Crypto NewsNewsThe Company That Experienced a 120,000 Ethereum Hack Announced That It Will...

The Company That Experienced a 120,000 Ethereum Hack Announced That It Will Issue Its Own Token and Gave the Good News of an Airdrop!

Wormhole announced that it will issue its own tokens and conduct an airdrop for the W token.

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Wormhole, the cross-chain protocol that came to the fore with the 120,000 Ethereum hacking incident in 2022, announced that it will issue its own tokens and hold an airdrop for the W token.

Wormhole said in a statement that 82% of the W token to be issued will be initially locked and then distributed via airdrop over a four-year period.

Wormhole also stated that the W token will be launched with an initial circulating supply of 1.8 billion and will have a maximum supply of 10 billion.

Evaluating Wormhole's latest move, experts interpreted the introduction of the W Token airdrop as a step to become more decentralized.

Last November, Wormhole completed a $225 million financing round, reaching a valuation of $2.5 billion.

Companies participating in the financing round included Brevan Howard, Coinbase Ventures, Multicoin Capital and Jump Trading.

*This is not investment advice.



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