Cross-chain protocol Wormhole has announced a significant airdrop of over 617M tokens to users of ecosystem applications and community members.

This airdrop, constituting approximately 6% of the total token supply, aims to recognize and reward the contributions of dedicated users, developers, and engaged community members within the Wormhole ecosystem.

According to Wormhole, nearly 400,000 wallets will receive the airdrop, with 500 million tokens allocated to users of Wormhole ecosystem applications across more than 30 interconnected blockchains. Additionally, around 117 million tokens will be distributed to various community users, including Discord users, NFT communities, Monad community members, and Pyth stakers.

Last month, Wormhole revealed that its W token would have a maximum supply of 10 billion, with an initial circulating supply of 1.8 billion. The tokens will be distributed among different groups, including guardian nodes, community and launch participants, ecosystem and incubation contributors, core contributors, strategic network participants, and the foundation treasury.

To determine eligibility for the airdrop, Wormhole conducted a snapshot of on-chain activity on February 6. With the launch of the W token, token holders will have the opportunity to shape the protocol's future through a token-based governance system. Holders will be able to delegate their tokens to participate in voting on Wormhole governance proposals, marking a significant step towards decentralizing governance within the protocol.

Wormhole's strategic move towards token-based governance aligns with its commitment to empowering community members and enhancing decentralization. The protocol closed a $225 million funding round in November, securing a valuation of $2.5 billion. Notable backers of Wormhole include Brevan Howard, Coinbase Ventures, Multicoin Capital, and Jump Trading, highlighting the strong support and confidence in the project from leading investors in the crypto space.

Revolut X Metamask ‘Direct Crypto Purchase’🦊

Digital bank Revolut has launched a new feature, "Revolut Ramp," in collaboration with self-custodial wallet MetaMask, aiming to simplify the process of purchasing cryptocurrencies.

This feature allows users to top up their MetaMask wallets directly from their Revolut accounts. The service will be available to users in the U.K. and European Economic Area (EEA). Users can fund their MetaMask wallets using their fiat currency balance in their Revolut account or by paying with Visa or Mastercard cards.

Revolut Ramp is designed to provide customers with a seamless and straightforward way to add cryptocurrencies to their self-custody wallets. The partnership with MetaMask is expected to enhance users' control over their crypto assets and facilitate broader adoption by offering a familiar and trusted platform.

Revolut has been actively expanding its crypto offerings, and the collaboration with MetaMask aligns with its commitment to providing customers with more control over their digital assets. The move also reflects a broader trend in the financial industry towards embracing and integrating cryptocurrency services for a wider audience.

Fantom Multichain Foundation Liquidation🩸

Fantom Foundation, a blockchain platform specializing in decentralized finance, has announced its intention to seek the liquidation of Multichain Foundation in order to recover assets lost in a July exploit.

In a blog post on Monday, Fantom revealed that the amount lost by its ecosystem represents approximately one-third of the $210 million exploited from the cross-chain protocol Multichain bridge.

This decision follows a legal victory for Fantom in January, where the High Court of Singapore issued a default judgment in favor of Fantom's legal action against Multichain for alleged breach of contract and fraudulent misrepresentations. With this judgment, the Singaporean court is expected to appoint a liquidator to assess Fantom's damages resulting from Multichain's security breach and facilitate the recovery and distribution of the missing or frozen assets.

Fantom expressed skepticism regarding Multichain's cooperation in the process, stating, "Given the persistent absence of Multichain, we do not expect this to occur, at which point the Foundation will petition the court to wind up the Multichain Foundation and appoint a liquidator." The decision to pursue legal action came after multiple unsuccessful attempts by Fantom to engage with key personnel of Multichain.

Fantom's legal case could potentially pave the way for other affected users of Multichain to claim lost assets, given the default judgment ruling. The exploit on Multichain resulted in a total loss of $210 million across various chains, including BNB, Ethereum, Polygon, and Arbitrum. Additionally, Fantom noted that its founder is currently under investigation in Kunming, China.

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Binance Token Listing Betting🎰

Binance has unveiled its Next platform, enabling users to bet on the tokens that will be added to its futures exchange in the future.

As per the announcement, users have the opportunity to nominate tokens for listing consideration. Subsequently, any trader can place bets on these nominated tokens. Successful predictions will earn users rewards in the form of bonus vouchers for futures trading or trading fee rebates. These rewards are equivalent to 1.2 times the value of the traders' picks.

To participate, traders can purchase a "pick" for 1 USDT and may make predictions for up to three digital tokens simultaneously, with a maximum of 100 picks at a time. If the nominated token is not listed, traders can reclaim their stablecoins.

It's important to note that Binance clarified that this platform is not intended as a voting mechanism to influence token listings. The exchange emphasized that the Futures NEXT platform operates independently of Binance's listing process and focuses solely on rewarding accurate market predictions rather than affecting token listings.

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