Wormhole (W)USD

Wormhole is a cross-chain interoperability protocol that enables message passing and asset transfers between different blockchains. The Wormhole team announced its W token launch in March 2024, and the token generation event took place on April 3, 2024. Wormhole is not a base-layer proof-of-work or proof-of-stake chain. Its security model relies on a Guardian Network of 19 nodes that validate cross-chain messages and produce Verifiable Action Approvals using a 13-of-19 multisignature attestation scheme. Messages are emitted on a source chain, signed by Guardians, and then verified and executed on the target chain. The native token, W, is a governance token and supports staking to help secure the network. W has a fixed maximum supply of 10 billion tokens, with an initial circulating supply of 1.8 billion at launch. The remainder is subject to a vesting and unlock schedule. Wormhole is one of the more widely used cross-chain messaging protocols and connects a broad range of blockchain networks.