W (Wormhole) Token and Its Project
1. What is the Wormhole Project?
Wormhole is a decentralized protocol aimed at enabling communication and connectivity between different blockchain networks, including Layer 1 and Layer 2 networks. It provides essential services such as cross-chain messaging and enables secure transfers of data and assets between multiple blockchains.
2. Support from Leading Companies
The Wormhole protocol enjoys the trust and support of major names in the cryptocurrency world such as Circle and Uniswap, enhancing its credibility and indicating serious adoption in the sector.
3. W Tokens and Their Uses
The W token is used for governance on the Wormhole platform and not just as a trading medium. W holders are granted the right to vote on strategic decisions such as fee allocation and expanding the protocol networks through DAO (Decentralized Autonomous Organization).
The initial token supply (Circulation Supply) was approximately 1.8 billion W out of a total of 10 billion W. The majority of the tokens (around 82%) were subject to a four-year lock-up period to ensure a measured and controlled launch.