Wormhole has launched staking for its $W token. By staking, you might qualify for future Wormhole and Monad token airdrops. Here’s what you need to know.
What is Wormhole?
Wormhole is a protocol that facilitates communication between blockchains, allowing developers to build cross-chain applications that leverage multiple ecosystems. It is not a blockchain or a token bridge itself, but rather enables these functions. For instance, developers can create cross-chain exchanges to access greater liquidity, enable cross-chain governance for NFT collections, or build games on one network while issuing rewards on another.
Key Features
- Governance Participation: Staking Wormhole tokens enables you to participate in governance, influencing the project’s direction.
- Future Airdrop Eligibility: By staking Wormhole tokens, you can qualify for future airdrops, including potential airdrops of the highly valued Monad tokens.
- Yield Opportunities: Staking Wormhole tokens, along with other Cosmos-related tokens, allows you to earn yields in Stablecoins like USDC and Ethereum (ETH).
- Exclusive Access: Completing the staking process by the specified deadline grants you exclusive roles and rewards, such as the “Steakorrr Discord Role,” which can further qualify you for airdrops.
What Makes Wormhole the Best Airdrop Opportunity?
- Multiple Airdrop Rounds: Wormhole offers several rounds of airdrops, increasing your chances of earning rewards.
- High Valuation Partnerships: Partnerships with high valuation projects like Monad ($3 billion valuation) enhance the potential value of airdrops.
- Strategic Positioning: Staking Wormhole tokens positions you for potential airdrops from various projects integrating with Wormhole’s omni-chain solution.
- Proven Strategy: Previous successful projects, such as Celestia and Dimension, have demonstrated the effectiveness of staking for airdrop eligibility.
Step-by-Step Guide to Staking Wormhole for Airdrops
Follow these steps to stake your Wormhole tokens and maximize your airdrop gains:
1. Navigate to the Staking Portal
- Go to the Staking Website: Visit the Wormhole staking portal at Tally.
- Click “Stake for Governance”: Begin the staking process by selecting this option.
2. Delegate Your Tokens
- Choose Delegation Method: Decide whether to delegate to yourself or another active staker. For active participation, delegate to yourself. Alternatively, select a reliable institution like Blockworks Research.
- Continue to the Next Step: Confirm your delegation choice and proceed.
3. Bridge Your Tokens
- Bridge to Ethereum Layer 2: Since the airdrop tokens are on Solana, bridge them to an Ethereum Layer 2 solution. Base Mainnet is recommended for its low fees and high on-chain activity benefits.
- Complete the Bridging Process: Connect your Base and Solana wallets, then finalize the bridging. The process takes about 2-3 minutes.
4. Finalize Staking
- Confirm Staking for Governance: Once the tokens appear in your Base wallet, confirm the staking process.
5. Complete Galxe Quest Requirements
- Meet the 40+ Score on Nomis.cc: Ensure your wallet has a score above 40 on the Nomis.cc platform to avoid being flagged as a Sybil farmer.
- Mint the Required NFT: If you meet the score criteria, mint the required NFT for 8 MATIC to complete the Galxe Quest requirements.
- Verify Completion: Refresh the Galxe Quest page to ensure all requirements are marked as complete.
6. Wait for Confirmation
- Staking Confirmation Deadline: Ensure all steps are completed by Monday, June 10, 2024, 11:59 UTC, to be eligible for the airdrop.
7. Keep Updated
- Follow and Visit Social Media Accounts: Follow Wormhole’s social media accounts (Discord, Twitter, and Telegram) to be updated on their airdrops. You may also check Monad’s social media account (Twitter) for possible airdrops.