Wormhole Launched the $W token
On April 3rd, Wormhole launched its highly anticipated native token, $W, which powers the Wormhole platform, operating on the native Solana SPL token. 01node is proud to announce that we are one of the 18 guardians for wormhole.
A Gateway to Blockchain Communication
Wormhole serves as a universal messaging protocol facilitating communication between various blockchains. Unlike a blockchain itself, Wormhole acts as a bridge for blockchain-to-blockchain or rollup communication. While it’s not a token bridge, Wormhole supports protocols like Portal Bridge that serve this purpose.
Today, Wormhole stands as the foremost interoperability platform driving multichain applications and bridges on a large scale — the epitome of Web3’s interconnectedness. Embraced by developers of over 200 applications and hundreds of thousands of users, Wormhole has facilitated the transfer of diverse data types across more than 30 blockchains, amassing over 1 billion multichain messages. Notable users include Uniswap, Circle, Lido, Synthetix, Pyth, among others.
- Applications Enabled by Wormhole
Wormhole’s capabilities open doors to a myriad of applications:
- Cross Chain Exchange: Utilizing Wormhole Connect, developers can construct exchanges accepting deposits from any Wormhole-connected chain, thereby significantly enhancing user liquidity.
- Cross Chain Governance: Various NFT collections spread across different networks can aggregate votes on a common proposal by utilizing Wormhole to communicate votes from disparate chains to a chosen “voting” chain.
- Cross Chain Gaming: Games can be built and operated on high-performance networks like Solana, with rewards issued as NFTs on different networks, such as Ethereum.
The $W Launch Roadmap
$W initially debuts as a native SPL token on Solana, leveraging its high-performance ecosystem for scalability, low transaction costs, and swift processing. This launch phase establishes a robust foundation for $W’s multichain aspirations within one of crypto’s most dynamic ecosystems.
Subsequently, $W will extend its reach to all Wormhole-connected EVM chains using Native Token Transfers (NTT). NTT ensures seamless token transfer across Solana, Ethereum mainnet, and Layer 2 solutions without liquidity fragmentation, maintaining $W’s unique utility for the Wormhole platform.
NTT, an open-source framework, facilitates token transfer across blockchains sans liquidity pools, granting projects full control over token behavior on each chain, including standards, metadata, ownership, and custom features. It empowers projects with granular security control, such as rate-limiting, pausing, access control, and balance accounting.
How to benefit from the token Launch
You may be eligible for this W airdrop if you’ve interacted with Wormhole ecosystem chains, applications, or the Wormhole community in the past. The snapshot for this airdrop was taken on February 6, 2024, 23:59 UTC.
Please proceed to check your eligibility and claim your W. https://airdrop.wormhole.com/
$W was distributed across these six categories:
Conclusion
The launch of Wormhole’s native token, $W, is a significant step towards seamless blockchain interoperability. With a strong network of Guardians, Wormhole is driving Web3 innovation, enabling cross-chain communication and diverse decentralized applications. $W’s expansion across multiple chains, aided by frameworks like Native Token Transfers (NTT), opens new opportunities for developers and users. From facilitating cross-chain exchanges to powering decentralized governance and gaming, $W serves as a beacon of connectivity in the decentralized space, evolving alongside the ecosystem.
About 01node
We are a pioneering force in the web3 field, because we are revolutionizing the validation and staking experience, prioritizing security, integrity and transparency. By seamlessly integrating state-of-the-art technologies and adopting a user-centered design philosophy, we ensure accessibility and efficiency in every partnership. Our commitment to simplicity, industry-leading security and comprehensive support for a wide range of digital assets redefines industry standards.
Trusted by over 100,000 users on over 40 networks. We have experience running Validator-as-a-service, RPC nodes since 2019 and time-tested infrastructure as a node operator. Our track record shows this reliability, we prioritize security and ensure best practices for every service we offer. We aim to provide the best performance and reliability through our physical infrastructure located in Tier 3 data centers. Our services are supported by a sophisticated technical infrastructure 24/7 customer support and a team of highly qualified professionals. qualification.
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