The world’s largest cryptocurrency exchange is preparing to list a new cross-chain altcoin project for millions of traders around the world.
Binance, the world’s largest digital asset exchange, said in a new announcement that the platform will support Wormhole (W) for spot trading starting Wednesday.
Once public trading begins, Binance said it will attach W Coins with a seed tag that will require users to pass a quiz every 90 days to ensure they are aware of the risks before trading the tokens.
“Binance will list wormhole and public 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).”
Other exchanges that will be trading Wormhole this week include OKX, Bitget, backpack And UX.
Several lists appear as wormholes. plan On Wednesday, 678,823,000 W tokens, or 6.78% of the total W token supply, will be airdropped to approximately 400,000 eligible wallets.
The project initially plans to have a circulating supply of 1.8 billion tokens out of a total of 10 billion tokens.
According to Wormhole’s official X account:
“Tokens will be allocated across six key categories – Guardian Nodes, Community & Launch, Core Contributors, Ecosystem & Incubation, Strategic Network Participants, and Foundation Treasury – with 82% initially locked and set to unlock over four years. The token economics structure is designed to support Wormhole’s long-term success, stability, and progressive decentralization.
W will initially be launched as the native Solana SPL token. ERC-20 functionality will be enabled post-launch via Wormhole’s Native Token Transfers (NTT), enabling seamless transfers across all networks connected to Wormhole.”
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