Covalent CQT Stakers Benefit from W Token Wormhole Airdrop, Emphasizing Significance of Cross-Chain Interactions

The W Token wormhole airdrop offers Covalent CQT stakers enhanced rewards and underscores the value of seamless cross-chain transactions.

Covalent CQT Stakers Benefit from W Token Wormhole Airdrop, Emphasizing Significance of Cross-Chain Interactions

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In a strategic step towards decentralizing the protocol’s governance, Wormhole has recently unveiled plans to distribute 617 million (W) tokens, aimed at incentivizing community engagement across multiple blockchains. These tokens are designed to foster governance participation and stimulate contributions within the Wormhole platform, with nearly 400,000 wallets poised to receive a portion of this airdrop.

As a long standing supporter of Wormhole and Wormhole’s Portal Bridge, Covalent anticipates that some CQT token stakers who have engaged with the Portal Bridge will benefit from the airdrop of W tokens. With over 225 blockchains integrated and indexed and enriching over 240 million wallets with its data, Covalent powers a multitude of opportunities for those engaging with the Covalent Network—the Wormhole token distribution is one of them.

W Tokens CQT Tokens

As Covalent envisions the consolidation of vertically integrated ecosystems through community airdrops, CQT holders who have staked may find themselves eligible by levering Wormhole’s Portal Bridge. This strategic airdrop represents a significant step towards establishing a more interconnected and decentralized ecosystem, underscoring Covalent’s dedication to fostering collaboration and integration for secure, decentralized, and open-source technologies.

Covalent (CQT) Ranks Second in ERC-20 Token Holdings on Wormhole

The Covalent Query Token (CQT) has secured the second position among ERC-20 tokens on the Wormhole portal token bridge. With a total of 157,530,738 CQT tokens that have moved in and out through Wormhole, the cumulative value of these transactions has reached a total of $36,232,069.85.

Frequency of CQT usage in Wormhole over the last 12 month period. 
Frequency of CQT usage in Wormhole over the last 12 month period. 

How to Get Involved

If you staked CQT for any amount of time between November 14, 2022 and the snapshot date for the W airdrop, you should check your wallet(s) availability at the Wormhole Airdrop checker here:

Covalent announces an enticing opportunity for CQT stakers who may have missed the recent airdrop with its recently announced ecosystem partner drops initiative. This aims to recognize and reward the invaluable support of CQT stakers for their contributions to the largest set of cryptographically secured structured on-chain data in Web3.

To participate in the upcoming ecosystem incentive drops, individuals are required to become a CQT staker. For those who have not already staked their CQT, simply refer to the staking documentation for a step-by-step guide on how to join and realize additional utility and value through these partner airdrops.

About Covalent


Covalent (CQT) is the home for Web3 data, enabling millions of users to build the new economy of products in AI, Big Data, and DeFi. Its deep commitment to democratizing access to structured data is delivered through a singular Unified API for everyone. A core aspect of the DePIN ecosystem, Covalent serves developers, analysts, innovators, and 1000’s of customers with comprehensive, real-time data access to +225 blockchains & growing. Learn how Covalent is building the long-term data availability ‘Ethereum Wayback Machine’.

For more information, check out Covalent’s Twitter/X

About Wormhole

Wormhole (W) is the leading decentralized interoperability platform powering multi-chain applications and bridges. The platform provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through over 800 million cross-chain messages.