According to CoinDesk, Wormhole, a blockchain interoperability protocol, has announced that it will enable W token holders to stake via the Tally Governance Portal. This move will provide token holders with the chance to participate in governance and influence the future direction of the Wormhole DAO and platform.
The team behind Wormhole considers this update as a significant stride towards decentralizing Wormhole through MultiGov. MultiGov is an industry-first multichain governance system for DAOs on Solana, Ethereum mainnet, and EVM L2s. Wormhole will be the first to adopt MultiGov, which will allow W token holders to create, vote on, and execute governance proposals on any supported chain.
This development marks a significant step in the evolution of blockchain governance, providing a more democratic and decentralized approach to decision-making within the Wormhole platform.
