2024-02-08
Wormhole is a cross-chain messaging
protocol, it started in September 2021.
Wormhole is more than just a blockchain
bridge, it can send crypto assets as well as information from one blockchain to
another blockchain.
Wormhole bridges currently support
Ethereum, BNB, Chain, Polygon, Avalanche, Fantom, Celo, Moonbeam, Solana, Sui,
Aptos, Base, Arbitrum, Optimism, Algorand, Acala, and SEI.
Wormhole has $1 billion in total value
locked.
W token
On Feb 7, 2024 Wormhold has unveiled its tokenomics.
Wormhole will launch a native token
under ticker symbol “W”. It has a max supply of 10 billion tokens
(10,000,000,000). The token will have a vesting period of 4 years and 8 months (56
months).
W tokens run on Ethereum and Solana
blockchains as ERC20 and SPL tokens (using Wormhole’s Native Token Transfer
standard).
W token allocation
W token airdrop
W will have an initial supply of 1.8
billion tokens (1,800,000,000).
Wormhole plans to airdrop 17% of token
supply to community through Community & Launch specify in the token
allocation.
Wormhole’s W token utility
Wormhole will release full information
of token utility in the future. W tokens will use for governance and the
Wormhole DAO.
W token holders can vote on proposals through the Wormhole DAO on issues such as
-Adding and removing blockchain
connections to Wormhole.
-Upgrading smart contracts across
Wormhole.
-Adjusting fees across various
products of Wormhole.
-Expanding or adding new parties to
the Guardian set.
-Adjusting rate limits (a security
feature).
-Token utility and design.
Currently,
Wormhole is one of the most popular cross-chain and messaging services.
It has processed $38 billion in volume since it started in 2021.
