(W) Wormhole Project Analysis
1. Research Institute Review
Wormhole's Connect product provides a simple bridging tool for applications, enabling cross-chain functionality by integrating the Wormhole protocol with just a few lines of code. Since its establishment in 2021, Wormhole has facilitated over $35 billion in cross-chain fund transfers and over 750 million cross-chain messages.
2. Recent Breakthroughs
This is the largest airdrop project recently, and following the anti-witch campaign, 397,704 wallets were selected out of over 1 million independent wallets to receive the W token airdrop.
3. Project Introduction
Wormhole (W): Wormhole is a leading interoperability platform that facilitates the development and growth of cross-blockchain solutions. It provides developers with liquidity and user access on over 20 leading blockchain networks, enabling use cases spanning DeFi, NFTs, governance, and more.
4. Token Utility
Staking, Mining, Governance
5. Tokenomics
Its native token, W, has a total supply of 10 billion tokens, with an initial circulating supply of 1.8 billion distributed across Ethereum, Solana, Arbitrum, Optimism, and Base networks. It is allocated as follows: 31% to the ecosystem, 23.3% to the foundation and community, 17% to major contributors, 11.6% to network partners, and 5% to guardian nodes.
6. Project Highlights
In 2023, Wormhole secured the largest cryptocurrency funding round to date, with a current valuation of $25 billion.
7. Investment Institutions
On November 29, 2023, Wormhole secured $225 million in funding at a valuation of $25 billion. This round saw participation from Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, Arrington Capital, and Jump Trading. This marked the largest funding round in the cryptocurrency space in 2023. Apart from raising $225 million, the team behind Wormhole also announced the establishment of a new company, Wormhole Labs, to assist in developing new protocols.
8. Community
With 313,000 followers on Twitter and 24,000 members in Discord, the community primarily consists of international users.
9. Special Economic Model
N/A
10. Future Prospects
Wormhole started as an asset bridge but has evolved into a universal AMB (Arbitrary Message Bridge), supporting the transfer of arbitrary messages among 24 nodes. The technical solution is somewhat similar to Layerzero, with Layerzero using oracles and relay with two-party verification, while Wormhole employs 19 guardian nodes, requiring robust oracles. This project secured the largest cryptocurrency funding round in 2023, with a valuation of $25 billion. On February 4, 2022, Jump Crypto announced an investment of 120,000 ETH to compensate for the stolen funds from Wormhole, supporting its continued development.
Basic Information
Project Introduction: Wormhole (W): Wormhole is a leading interoperability platform that facilitates the development and growth of cross-blockchain solutions. It provides developers with liquidity and user access on over 20 leading blockchain networks, enabling use cases spanning DeFi, NFTs, governance, and more.
Token Full Name: Wormhole
Token Name: W
Project Website: https://wormhole.com/
Project Documentation: https://book.wormhole.com/
Blockchain Explorer: https://explorer.solana.com/address/85VBFQZC9TZkfaptBWjvUw7YbZjy52A6mjtPGjstQAmQ/metadata
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CoinW Institute
2024/4/3