The world’s largest crypto exchanges are gearing up to list a new cross-chain altcoin project for millions of traders worldwide.
In a new announcement, Binance, the largest digital asset exchange in the world, says that the platform will support Wormhole (W) for spot trading starting Wednesday.
Once launched for open trading, Binance says it will attach W coins with a seed tag that requires users to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
“Binance will list Wormhole and open trading for these spot trading pairs at 2024-04-03 12:00 (UTC). New spot trading pairs: W/BTC, W/USDT, W/FDUSD and W/TRY. Users can now start depositing W in preparation for trading. Withdrawals will open at 2024-04-04 12:00 (UTC).”
Several other exchanges are also listing Wormhole for trading this week, including OKX, Bitget, Backpack and WOO X.
The multiple listings come as Wormhole plans to airdrop 6.78% of the total W supply, or 678,823,000 tokens, to about 400,000 eligible wallets on Wednesday.
The project plans to initially have a circulating supply of 1.8 billion tokens out of a total of 10 billion.
According to Wormhole’s official X account,
“The token will be allocated across six main categories: guardian nodes, community and launch, core contributors, ecosystem and incubation, strategic network participants and the foundation treasury, with 82% initially locked and set to unlock over four years. The tokenomics structure is designed to support Wormhole’s long-term success, stability and progressive decentralization.
W will initially launch as a native Solana SPL token. ERC-20 functionality will be enabled post-launch through Wormhole’s Native Token Transfers (NTT), allowing seamless transfers across any Wormhole-connected network.”
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