Wormhole (W) is a decentralized messaging protocol that facilitates cross-chain communications across over 30 blockchains and Layer 2 platforms, encompassing all major smart contract-capable networks. It supports a wide range of applications, including DeFi (Decentralized Finance), NFTs, governance, and more. The Wormhole network is trusted by leading teams such as Circle and Uniswap, showcasing its credibility and widespread use in the crypto space.
The native token of the Wormhole network is denoted as "W," with a maximum supply of 10 billion tokens. The initial circulating supply was set at 1.8 billion tokens. According to the project's vesting schedule, a significant portion of the W tokens (82%) are initially locked and will unlock over a four-year period,
The W token serves various purposes within the Wormhole ecosystem, including acting as a governance asset for the upcoming Wormhole DAO (Decentralized Autonomous Organization), where holders can vote on key decisions such as fee structures. Wormhole’s introduction of the W token and a subsequent airdrop highlights its ongoing efforts to enhance cross-chain messaging capabilities, enabling more unique cross-chain use cases in an evolving multi-chain world.
