Wormhole/W#165 23

What is Wormhole (W)?

Wormhole (W) is one of the newest and most advanced multichain solutions for the exchange of assets and information between different blockchains. Becoming an essential part of the development of DeFi, cross-chain trading, and numerous dApps, Wormhole expands its ecosystem each day. In this case, it connects blockchain networks such as Ethereum, Solana, and the BNB Smart Chain to provide a secure way of interoperability.

Wormhole, which started in October of the year 2020, was at first a token swap platform connecting Ethereum and Solana. After the August 2021 acquisition of Certus One by Jump Trading, Wormhole was introduced on the mainnet in September as an interconnect to other blockchains for interoperability. Eventually, in November 2023, Wormhole raised a $225 million fundraising, which then formed the Wormhole Foundation and Wormhole Labs. It launched NativeSwap in January 2022, CCTP integration with Circle in March 2023, Wormhole Gateway in July 2023, Wormhole Queries in December 2023, and Native Token Transfers using Uniswap V3 in January 2024. Thus, Wormhole became a stable protocol of cross-chain token swap, Non-Fungible tokens, voting information, and cross-chain application deploying, making it an essential layer of the blockchain system.

What is W (Wormhole) Token?

The W token is the native token of the Wormhole Platform Having a total Dupply of 10 billion tokens.  It was initially launched as an SPL token on the Solana blockchain. It facilitates cross-chain Operability and has ERC-20 functionality.
The token also plays an important role in the Governance of Wormhole, where Holders can influence decisions of the protocol, Including the blockchain connections and fee adjustments.   

The Wormhole’s ability to deal with billions of dollars worth of value transfers and handle over 1 billion multichain messages has made it an efficient and trusted protocol in the industry. With its modular suite of open-source protocols, Wormhole has emerged as the leading tool for building multichain systems.

Where can you buy W (Wormhole) Token?

W tokens can be bought on both the centralized and decentralized marketplaces.

On CEX, the best exchanges to purchase W tokens include Binance, GateIO, Bybit, OKX, and MEXC Global. On decentralized exchanges (DEXs), you can swap W tokens using platforms like Uniswap v3, Aerodrome v1, Sushiswap, 1inch, etc.

Wallets that support W (Wormhole) Token

W Token is supported by various popular wallets like Trust Wallet, Ledger, Imperium Token, MetaMask, Torus, Coinbase Wallet, TokenPocket, and iTokens Wallet

W (Wormhole) Coin Price History

The Wormhole (W) tokens’ journey started with a private sale on the 29th of November, 2023, raising $225 million where the tokens sold at $0.25 with a pre-valuation of $2.5 billion. On February 6, 2024, Wormhole conducted a Retrodrop airdrop, distributing tokens to its most active users according to the transfer volumes and other activity in the Wormhole application.  The token was launched on April 4, 2024, via Token Generation Event (TGE) with an initial price of $1.55, listed on platforms like Bitfinex, LBank, DigiFinex, etc.

The initial distribution of W tokens included allocations for key stakeholders:

• In ecosystem and incubation – 31%

• Foundation treasury – 23.3%

• Community and launch – 17%

• Core contributors – 12%

• Strategic network participants – 11.6%

• Guardian nodes – 5.1%