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The cross-chain protocol Wormhole has revealed plans to distribute billions of W tokens among community members in a bid to decentralize its governance. 
As per a <a href="https://wormhole.com/wormhole-w-tokenomics/" target="_blank" rel="noreferrer noopener">blog post</a>, the <a href="https://crypto.news/tag/wormhole/" target="_blank" rel="noreferrer noopener">Wormhole</a> team allocated 1.7 billion (17% of the total supply) of its native token called W for community airdrop and launch, while the initial circulating supply will be set at 1.8 billion W tokens. The remaining 82% of W tokens will be initially locked, with plans for gradual unlocking over four years. 
The protocol will roll out its native token, W, on both <a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a>‘s ERC-20 standard and <a href="https://crypto.news/tag/solana/" target="_blank" rel="noreferrer noopener">Solana</a>‘s SPL. Under the token distribution plan, the largest allocation, accounting for 31%, is allocated for ecosystem and incubation, followed by foundation treasury at 23.3%, and core contributors at 12%. 
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 <img loading="lazy" decoding="async" width="1024" height="549" src="https://crypto.news/app/uploads/2024/02/nxikbvndfjnv-1024x549.png" alt="Wormhole to airdrop 1.7b tokens to community members - 26" class="wp-image-14246432">
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 Wormhole’s token distribution plan | Source: Wormhole 
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</figure> 
While the snapshot for the community airdrop has already been taken, specific details regarding the distribution criteria remain unclear. 
Eventually, Wormhole plans to “progressively decentralize the protocol’s governance to W holders,” the developers said in the blog post, adding that W holders could guide community programs and treasury-related activities. 
<blockquote class="wp-block-quote"> 
 “The goal of this governance launch is to empower and enable the Wormhole community to address these critical areas with the necessary resources and support.” 
 Wormhole 
</blockquote> 
Founded in 2021, Wormhole is a cross-chain protocol designed to facilitate interoperability and communication between different blockchain networks. 
In November 2023, the protocol <a href="https://crypto.news/wormhole-raises-225m-after-split-from-jump-crypto/" target="_blank" rel="noreferrer noopener">raised</a> $225 million at a $2.5 billion valuation from investors Coinbase Ventures, Multicoin Capital, and Jump Trading, which initially incubated the protocol under its digital asset division Jump Crypto. Rather than equity, Wormhole&nbsp;<a href="https://fortune.com/crypto/2023/11/29/wormhole-raises-225-million-2-5-billion-valuation-jump-crypto-split/" target="_blank" rel="noreferrer noopener">issued</a>&nbsp;token warrants to investors. These warrants guarantee that investors will receive an allocated supply of a crypto token launched by the protocol. 
 Read more: <a href="https://crypto.news/wormhole-attacker-transfers-155m-to-dex/"> Wormhole attacker transfers $155m to DEX </a>

Wormhole to airdrop 1.7b tokens to community members

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