$W Token Is Getting Listed On The LCX Exchange
av LCX Team · October 10, 2024
We are happy to announce the listing of $W Token. Starting on Thursday, 10th October, 2024 at 10 AM CET. LCX Exchange will support the $W token. Deposits will start on– Thursday, 10th October, 2024 at 10 AM CET. The trading pair $W / $EUR will be listed.
What is Wormhole (W)?
Wormhole is a leading interoperability protocol designed to enable seamless value and information transfers across multiple blockchain networks. By connecting 17 prominent blockchain ecosystems through a single point of integration, Wormhole streamlines the movement of assets and data within the Decentralised Finance (DeFi) landscape. This protocol enables existing projects, platforms, and communities to efficiently transfer tokenized assets across different blockchains, leveraging Solana’s high speed and low costs, without functioning as a blockchain or token bridge itself.
Wormhole offers more than just asset transfers—it serves as a versatile platform for cross-chain applications, including exchanges, governance, and gaming. Developers can create exchanges that accept deposits from any connected chain, broadening the liquidity available to users. For governance, NFT collections across different chains can aggregate votes on a selected chain using Wormhole, ensuring unified decision-making. In the gaming sector, projects can distribute rewards on various chains, demonstrating Wormhole’s ability to create a cohesive experience across different blockchain environments.
Wormhole’s architecture consists of both on-chain and off-chain components, including elements like the Emitter, Wormhole Core Contract, Guardian Network, and Verifiable Action Approvals (VAAs). The Guardian Network validates messages sent from the Core Contract, ensuring secure cross-chain transactions. This robust design has gained the trust of notable projects, such as Circle and Uniswap, further reinforcing Wormhole’s commitment to security and trustworthiness.
Security and governance are key to Wormhole’s operations. The protocol relies on Guardian nodes that validate and sign cross-chain messages, requiring a supermajority for message approval. Governance processes follow the same stringent security measures, demanding a two-thirds supermajority of Guardian votes. Wormhole ensures platform security through ongoing audits, a bug bounty program, and an open-source governance system, which also encourages community participation in shaping the future of blockchain interoperability.
Start Trading $W
Launch LCX ExchangeWhat is the W Token?
The W token, initially launched on the Solana network as a native SPL token, is a multichain-native asset representing Wormhole’s focus on interoperability. Following its launch, the token is set to expand to Ethereum and other EVM-compatible chains via Wormhole’s Native Token Transfers (NTT) feature. This expansion highlights the token’s goal of enabling smooth asset transfers and interactions across various blockchain networks, promoting a connected DeFi environment.
W tokenomics have been carefully planned, with a total supply capped at 10 billion tokens and an initial circulating supply of 1.8 billion. The W token will exist in both ERC20 and SPL formats, utilizing Wormhole’s NTT framework for accessibility across different blockchains. A large portion, 82%, of the total W supply will be vested over four years, reflecting a long-term strategy for the token’s stability and growth.
The W token’s roadmap includes a phased rollout, beginning with Solana and expanding to Ethereum and other EVM chains through Wormhole’s NTT feature. This showcases the token’s adaptability and Wormhole’s role in enabling cross-chain functionality. A key feature is token self-delegation, which allows W token holders to lock and delegate their tokens, participating in on-chain governance across Solana and EVM chains.
Wormhole’s governance model, powered by the W token, introduces a multichain governance system operational on Solana, Ethereum mainnet, and EVM Layer 2s. This system gives W token holders decision-making power over critical protocol aspects, such as blockchain integrations, smart contract upgrades, fee structures, and Guardian set expansions. This governance framework enhances the utility of the W token by aligning it with Wormhole’s ongoing development and the needs of the broader DeFi ecosystem.
Users can sign up for an LCX Account here
Deposits: Deposits open on Thursday, 10th October, 2024 at 10 AM CET
Pair Listing Details:
$W / $EUR starting on Friday, 11th October, 2024 at 10 AM CET
How to deposit $W?
Go to LCX Accounts > Wallet
Scroll down to $W.
Click on the “Deposit” tab next to $W.
Your deposit address will be displayed on the screen.
Send $W to this address.
This content is provided for informational purposes only and does not constitute financial, legal, or investment advice. The buying, selling, and trading of cryptocurrencies and digital assets involve significant risk and may result in the loss of your entire investment. Always conduct your research and consult a qualified advisor before making financial decisions. LCX is a regulated entity operating in accordance with the Liechtenstein Blockchain Act. It has approvals for roles including token generator, token issuer, and exchange service provider. LCX provides technology and compliance infrastructure for digital asset services.