Wormhole is a cross-chain interoperability protocol designed to facilitate seamless communication and asset transfers between various blockchain networks. Launched in 2020, it has evolved into a foundational layer for multichain applications, enabling developers to build decentralized applications (dApps) that operate across multiple blockchains.
Wormhole allows for the transfer of tokens and data across different blockchain networks, enhancing interoperability.
Offers SDKs and widgets, such as "Connect," to simplify the integration of cross-chain functionalities into applications. LI.FI
Over 200 projects have been built on Wormhole, including notable names like Uniswap and Circle, leveraging its interoperability solutions.
The native token, W, launched in April 2024 with an initial all-time high of $1.61. However, it has since experienced significant volatility, currently trading at approximately $0.077. This decline has left a majority of holders at a loss
In 2022, Wormhole experienced a significant security breach, resulting in substantial fund losses.