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Information about Wormhole (W)
Wormhole is a cross-chain bridge protocol that allows users to transfer assets between different blockchains, such as Ethereum, Solana, Terra, BNB Chain, Polygon, Avalanche, and Oasis. The project solves the interoperability problem between decentralized applications (dApps) and smart contracts on different blockchains, making it easier and more convenient to swap tokens between chains.
Protocols using Wormhole's solution have processed over 750 million transactions with a volume of up to $35 billion. Over 200 dApps from different blockchains have been built on Wormhole's solution. Among the 30+ blockchain networks supported by Wormhole, Solana accounts for over 81.3% of all transactions.
W is a native coin of the Wormhole ecosystem, operating on Solana according to SPL standard. A token-based governance system allows token holders to guide and impact the protocol's direction. Over time, Wormhole plans to decentralize the protocol's governance to W holders progressively.
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W trading volume is $102.97m. Market capitalization reaches $320.51m.
W trading volume is $78.39m. Market capitalization reaches $348.95m.
First token burn mechanism: W-Coin enforces a daily 5% token burn for inactive users to keep the community engaged. Players who do not log in for three days will have a portion of their assets burned.
Encouraging active player participation: The token burn ensures that only active players are rewarded, preventing users from hoarding points for airdrops without participation.
Token distribution goal: W-Coin aims to distribute 70% of the total token supply to the community while retaining 30% for future development.
Community growth in 8 months: The W-Coin community has grown by thousands of users each day, reinforcing the channel’s development and activity despite retention challenges.
The Wormhole Foundation has partnered with Google Cloud to improve security and scale its Guardian Network. The goal is to enhance its system for handling cross-chain transactions using Google Cloud’s infrastructure.
This move will help keep the connection up and running and reduce the chances of downtime when validators face issues.
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