Hello everyone, I’m Akan from the Direction Community. Today I’d like to talk to you about Wormhole. Wormhole is a revolutionary decentralized universal messaging protocol that provides developers and users with new possibilities for cross-chain applications. First launched in October 2020, Wormhole was originally intended to enable developers to build native cross-chain applications covering multiple ecosystems. Initially a hackathon project, its goal was to find an innovative solution that would enable inter-blockchain communication.

Originally incubated and supported by Jump, Wormhole’s first version, Wormhole V1, focused on building a two-way token bridge between Ethereum and Solana. As the project has continued to evolve, today’s Wormhole has evolved into a universal messaging protocol capable of connecting multiple chains in the ecosystem. This evolution is consistent with Wormhole’s broader vision of becoming a base layer for developers to build diverse cross-chain applications. As a result, Wormhole V1 was phased out and the Wormhole protocol was launched in August 2021, laying a solid foundation for the further development of the cross-chain ecosystem. The W token is a native ERC-20 token and native Solana SPL token with a total supply of 10 billion, of which 1.8 billion will be in circulation at the initial launch. In addition, the remaining 82% of the tokens will be locked at the initial launch and gradually unlocked over the next 4 years. This distribution strategy lays a solid foundation for the sustainable development of the W token and the healthy development of the ecosystem.

Wormhole completed a $225 million financing on November 29, 2023, with a valuation of up to $2.5 billion. In addition to raising funds, the team behind Wormhole also announced the establishment of a new company, Wormhole Labs, dedicated to the development of the new protocol. The launch of Wormhole aims to achieve a wide dispersion of protocol stakeholders. With a supply of 10 billion tokens and an initial circulation supply of 1.8 billion tokens, Wormhole ensures a wide distribution of tokens on Solana. This distribution method spans multiple areas such as ecosystem and incubation, community and launch, laying a solid foundation for Wormhole's long-term vision of success, stability and further decentralization.   Wormhole is one of the few messaging solutions that can connect non-EVM-compatible chains with EVM-compatible chains.This wide range of chain support ensures the wide applicability, interoperability and excellent scalability of Wormhole. Currently, Wormhole supports communication across 25+ chains. Based on PoA, Wormhole authenticates inter-chain information through a group of trusted guardians and ensures the credibility and security of information based on reputation. At the same time, Wormhole is designed so that it can be updated and modified without breaking existing integrations. Wormhole provides a simple and efficient cross-chain experience. Currently, Wormhole does not require additional fees; in addition, through Connect, many applications can easily integrate Wormhole into their DApps without additional fees, greatly simplifying the user's interaction process. Finally, Ahan suggests that close friends who want to participate can build positions on the left and increase their positions on dips! That's all for today's sharing. I hope it will be helpful for your investment. See you next time!