Token

Solana

Wormhole

The Wormhole W token, a cross-chain communication platform that belongs to the Wormhole ecosystem, is now live on several major blockchains, including Solana, Ethereum, Arbitrum, Optimism, and Base. 
This announcement was made today through a <a href="https://wormhole.com/w-is-now-natively-multichain-on-ethereum-and-layer-2s-with-wormhole-native-token-transfers-ntt/" target="_blank" rel="noopener" data-wpel-link="external">blog post</a> shared by the team. The launch is expected to provide users with a way to move W tokens quickly between these chains without needing liquidity pools, which might be complicated and hard to obtain. 
W tokens can now perform dual functions as an SPL token on Solana with EVM compatibility and as an ERC20 token on EVM-compatible chains. Now, Wormhole can handle tokens for various networks, opening up the possibility of building multi-chain solutions. 
This functionality is a major step for Wormhole, marking the completion of the second phase of their W token launch roadmap. The next step holds the feature of creating a multi-chain governance system, which will be a a game-changer in conjunction with W token staking for governance purposes. 
Therefore, W will ultimately be a multi-currency and will be the driving force behind Wormhole’s expansion into more users and developers. In addition, increased accessibility will encourage community members to innovate and participate in the Wormhole ecosystem. 
The token has shown a 22.18% increase in the last few hours and is trading at $0.676. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/DYkAlhcqlAywgb8XiTtHx-9REDiMPD_iyRBbWETeTq9ZG0_H_Jp3Y9x977YlJshs1biTIwxgI43dPZ18rcWQr3aIvQSVXoUNKvGfGye8Tx9SFwmqmD_FXhW9XIyb77HaTcJvHDnIA2GeFLCHRzWMZqA" alt="DYkAlhcqlAywgb8XiTtHx">
 <figcaption class="wp-element-caption">
 Source:<a href="https://coinmarketcap.com/currencies/wormhole/" target="_blank" rel="noopener" data-wpel-link="external"> Coinmarketcap</a>
 </figcaption>
</figure> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/26/consensys-filed-lawsuit-against-sec-over-ethereum-regulation/" data-wpel-link="internal">Consensys Filed Lawsuit Against SEC Over Ethereum Regulation</a> 
</blockquote>

Wormhole W Token Goes Live on Multiple Blockchains

The Crypto Times

Other articles published on Apr 25, 2024

Powered by Polygon, Planet-X Is Set to Launch on Immutable zkEVM, GameFi Narrative Bullish

Pepe Price Prediction: PEPE Plunges 10% Despite Coinbase Futures Launch As This Dogecoin Derivati...

Ethereum Faces New Legal Challenge Against SEC

Ethereum Price Prediction $100,000

XRP Price Predictions and Market Developments

Ripple (XRP) Poised for $33 Billion Rally by 2025: Analyst

Join our free newsletter for daily crypto updates!