Wormhole unveils roadmap to debut W token on Solana

Wormhole, a cross-chain message protocol, has released a roadmap of the W token. The W token will debut first on the Solana Network.

It is a blog post 3 April On Apr. Wormhole Protocol has released a roadmap to maximize the utility of its native token W across various blockchain ecosystems. The document states that Phase 1 will be the debut of W as an SPL native token. Solana network.

“This phase sets the foundation for W’s multichain ambitions, ensuring the token starts strong in one of the most vibrant and rapidly growing crypto ecosystems.”

Wormhole

The next phase will be the expansion of W across all Wormhole chains. It will include support for Ethereum Virtual Machines (EVM) and Wormhole Native Token Transfers. The expansion of W will allow transfers to occur not just on Solana but across all Wormhole-connected chains. This is done using Wormhole Native Token Transfers (NTT), a framework for transferring tokens between blockchains without liquidity pools. Ethereum In the announcement, it is stated that there are several layer-2 options without liquid fragmentation.

Wormhole’s team has announced that W holders have the option to delegate and lock their tokens both on Solana chains and EVM chain in order to prepare for on-chain government. This token delegation will be used to govern the Wormhole EVM, a multichain system of governance that will supervise the growth of the Wormhole eco-system. The project team did not provide a timeline for the phases, so it is unclear exactly when the Wormhole ecosystem will be launched.

Crypto.news earlier reportedBitget OKX Backpack and other exchanges plan to offer the W token as a spot trade after airdrop claims are made available for eligible users. Wormhole has distributed 617,305,000 W tokens to the 397,704 wallets that are eligible to participate in airdrops.

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