Wormhole $W + Ratio

Alpha-Team
February 07, 2024

🌐 Wormhole's Token Airdrop and Governance Plan

Token Airdrop Details: Wormhole, a cross-chain protocol, announced an airdrop of its "W" token. The token's total supply is 10 billion, with an initial circulation of 1.8 billion. These tokens are allocated to various groups including guardian nodes and the foundation treasury. Approximately 82% of these tokens will be locked and released over four years.

Previous Funding and Hack Incident: In November, Wormhole closed a funding round of $225 million, valuing the firm at $2.5 billion. Investors included Brevan Howard and Coinbase Ventures. Wormhole, previously a part of Jump Trading, suffered a major hack in 2022, resulting in a loss of 120,000 ETH, valued at $323 million at the time.

Governance Decentralization Plan: Wormhole plans to gradually decentralize its protocol's governance, giving control to W token holders. This move aims to enhance community involvement in governance and treasury-related activities, aligning with the ethos of transparency and security in web3. Read More.

️ On today's Top Picks:

☠️ Solana halts for ~5 hours.
🚀 Dencun upgrade goes live on Holesky.
🪂 Dymension $DYM airdrop is live.
💰 Microstrategy acquires 850 Bitcoin $BTC.

Read time: ⏰ 6 minutes

Crypto News

• ⭐️ Solana halts for ~5 hours due to a previous Solana Improvement Proposal.

• ⭐️ Ethereum Dencun upgrade goes live on Holesky testnet with Mainnet expected early March.

• Craig Wright denies allegations of fabricating evidence that claimed he was Satoshi.

• BlockFi & Three Arrows Capital settlement approved by US Bankruptcy Court.

• Ripple Labs ordered to produce financial statements and info on the sale of $XRP tokens.

• Haru Invest executives arrested for allegedly stealing ~$828 million in customers' funds.

• Binance to delist $ANT, $MULTI, $VAI, and $XMR on February 20th.

• Mechanism Capital accumulates Trump related meme coins and NFTs.

Alpha

• ⭐️ Wormhole $W tokenomics revealed.

• Monad posts, "devnet loading ▓▓▓▓░░░░░░░░░ 33%," on X.

• Opal teases upcoming journey on X.

• Rainbow releases free Rainbow Smol NFT.

• DeBank releases DYM Airdrop Hunter Web3 Badge.

Airdrops

• ⭐️ Dymension Mainnet launches with $DYM airdrop alongside.

• Argent posts, "The Starknet airdrop is coming soon 🪂," on X.

• Binance announces Polyhedra airdrop campaign for Binance Web3 Wallet.

• Pyth unveils second phase of $PYTH airdrop for dapps.

• Heroes of Mavia airdrops $MAVIA to 100K users and NFT holders.

Finance News

• ⭐️ Microstrategy $MSTR acquires an additional 850 Bitcoin $BTC for $37.2M.

• Federal Reserve Bank of Boston President says central bank will lower rates at some point later this year.

• Alibaba $BABA misses revenue expectations but increases share buyback program by $25B.

Security and Exploits

• Crypto fraudsters sell "pig butchering kits” which is a type of online romance scam.

Token Unlocks

• Moonbeam / 3.04M $GLMR / ~$1M / FEB 10
• Aptos / 24.84M $APT / ~$215M / FEB 11

Funding

• Omega, an omnichain & Bitcoin DeFi protocol; raises $6M in funding.

• LightLink, a gasless Ethereum L2; raises $4.5M in Seed funding led by T&B Media Global and Mittaria.

• GLIF, a Filecoin staking protocol; raises $4.5M in Seed funding led by Multicoin Capital.

• LN Markets, an instant settlement Bitcoin trading platform; raises an undisclosed amount in Seed funding from Lemniscap.

• Folks Finance, a non-custodial DeFi protocol; raises an undisclosed amount in Strategic funding from Algorand Ventures.

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