🔔 Preface:

Wormhole is a cross-chain messaging protocol that actively promotes the development of the cross-chain market through its diverse products and ecosystem. Hundreds of millions of dollars in financing and cooperation with industry leaders show the market's recognition of its huge potential.

💥 Summary:

On July 2, 2024, PancakeSwap announced that it now supports the USDT native transfer function driven by Wormhole.

This feature improves the liquidity utilization of USDT in PancakeSwap’s fund pools on Ethereum, Arbitrum, Base, and BNB Chain, further expanding PancakeSwap’s role beyond decentralized exchanges (DEX). By integrating Wormhole’s USDT native transfer function, PancakeSwap has taken an important step in improving liquidity and cross-chain functionality.

1️⃣ Introduction to Wormhole Protocol:

Wormhole is a cross-chain protocol originally developed and supported by the Solana blockchain. It aims to achieve interoperability between different blockchains, allowing assets and data to be freely transferred between multiple blockchains, including Solana. Through Wormhole, users can perform cross-chain operations of tokens and other assets between Solana and other blockchains (such as Ethereum, Binance Smart Chain, etc.), thereby enhancing the flexibility and interoperability of the Solana ecosystem.

Currently, Wormhole has connected more than 30 different blockchains and hosted more than 200 applications, becoming a key infrastructure for thousands of cross-chain project developers. It has processed more than 1 billion multi-chain messages for platforms such as Uniswap and Circle.

In the current environment where multiple chains coexist, different blockchain networks are like independent islands, and asset and data exchange faces many obstacles. Wormhole was born to solve these problems, allowing developers to easily build native cross-chain applications across multiple blockchains and achieve seamless transfer of assets and information.

2️⃣ What is the $W token?

The W token is the governance token of the Wormhole platform and also a protocol. Like all governance tokens, the goal of $W is to enable on-chain governance through a decentralized autonomous organization (DAO), allowing token holders to guide and influence the direction of the protocol.

According to #Binance , the total supply of W tokens is 10 billion W, of which the circulating supply is 1.8 billion W, the market capitalization is US$518 million, and the fully diluted market capitalization is US$2.88 billion.

3️⃣ Project highlights:

The W token has the attributes of both the Solana SPL token and the Ethereum ERC-20 token, thanks to Wormhole's native token transfer framework. This design ensures that tokens can be seamlessly transferred between any Wormhole-connected network, greatly improving interoperability and asset liquidity. By leveraging advanced cross-chain technology, Wormhole is able to ensure the security and efficiency of these transfer processes, reducing the complexity and risks of previous cross-chain operations.

4️⃣ Recent events:

● Launched the first multi-chain governance system MultiGov: This system enables multiple blockchains to participate in the governance of the Wormhole protocol, further improving the decentralization of the protocol.

● Enable seamless transfer of W tokens between Solana and EVM networks: Through Wormhole NTT, users can seamlessly transfer W tokens between Solana and Ethereum Virtual Machine (EVM) compatible networks.

● Ecosystem Program: Including multiple projects such as Wormhole Accelerator, aimed at supporting and promoting the development and promotion of cross-chain applications.

5️⃣ Ecological Outlook:

Wormhole's cross-chain capabilities open new doors for DeFi, NFT, games, and other blockchain applications. Users can easily transfer assets from one chain to another, participate in the most profitable DeFi protocols, or display NFT artworks on different market platforms. For developers, Wormhole means a broader user base and more innovative possibilities.

🎯 Summary:

As a cross-chain universal messaging protocol, Wormhole actively promotes the development of the cross-chain market through its diverse products and ecosystem. Hundreds of millions of dollars in financing and cooperation with industry leaders show the market's high recognition of its potential. Its leading position in the cross-chain field is reflected in the wide applicability of its products, rich ecosystem and strong technical support.

In addition, Wormhole has demonstrated its active leadership in the cross-chain ecosystem through cooperation with leading platforms such as Uniswap and the promotion of cross-chain NFT standards. These initiatives have further consolidated Wormhole’s leading position in the cross-chain market and laid a solid foundation for its future development.

This article does not constitute any investment advice! Investors need to carefully assess risks and market performance! #DYOR

🤝 Thank you everyone！