Wormhole Introduces Governance Feature; W Token Rises by 4.44%

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Wormhole has launched a Stake for Governance feature for W token holders, leading to a 4.44% increase in the token’s price.

This feature allows W token holders to actively participate in the project’s governance, marking a major step towards decentralized management.

In addition, Wormhole has implemented a daily transfer cap of 100 million W tokens from Solana (SOL) to Ethereum Virtual Machine (EVM) chains to bolster security measures.

Wormhole has introduced a new governance feature for W token holders, encouraging them to stake their tokens to actively participate in decision-making processes.

This initiative aims to promote a decentralized management structure where token holders can influence the project’s direction and decisions.

In tandem with the governance rollout, Wormhole has implemented a daily transfer limit of 100 million W tokens from Solana to Ethereum Virtual Machine (EVM) chains.

This measure, part of Wormhole Guardian security protocols, safeguards cross-chain token transfers and protects the ecosystem from potential threats.

The Wormhole team strongly advises W token holders to utilize the Stake for Governance feature to establish a robust foundation for future governance activities.

Wormhole has expanded the reach of the W token by making it available on multiple blockchain networks including Solana, Ethereum, Arbitrum, Optimism, and Base through Wormhole Native Token Transfers (NTT).

On Solana, W operates as an SPL token, while on EVM chains, it functions as an ERC20 token. This cross-chain compatibility facilitates multichain governance, enabling W token holders to participate in governance across various blockchain platforms.

In a significant move towards broader adoption, Wormhole has listed the W token on Robinhood, a prominent cryptocurrency exchange.

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