Wormhole, a cross-chain interoperability protocol, announced on June 6 the launch of a multi-chain staking and governance mechanism aimed at holders of its native token, W.
As explained in an official statement, the governance system announced by Wormhole will allow W token holders to create and vote on governance proposals in Solana (SOL), Ethereum (ETH), Arbitrum (ARB), Optimism ( OP) and Base.
“This is your opportunity to participate in governance and influence the future direction of the Wormhole DAO and the platform. The introduction of staking for governance is a significant step towards Wormhole’s decentralization through MultiGov, an industry-first multichain governance system for DAOs on Solana, Ethereum mainnet, and EVM L2s. Wormhole DAO will be the first to adopt MultiGov, allowing W holders to create, vote and execute governance proposals on any supported chain.”
Additionally, token holders will be able to move up to 100 million W tokens from the Solana blockchain to Ethereum Virtual Machine (EVM) compatible chains for governance participation on a daily basis. “As part of the secure and gradual implementation of W governance, a limit of 100 million W tokens can be transferred from Solana to EVM chains every day.”
Specifically, holders will be able to participate in the Wormhole protocol’s delegated proof-of-stake governance model by staking W and assigning their governance power to a delegate. “By staking your W tokens, you delegate your voting power and ensure your voice is heard on critical governance decisions. Whether you are deeply involved in the community or prefer to entrust your voting power to a dedicated delegate, your participation is vital to the health and success of Wormhole’s decentralized ecosystem,” he explained.
What is Wormhole Crypto?
Wormhole is a cross-chain blockchain protocol that facilitates the transfer of assets and data between different blockchain ecosystems. Imagine it as a virtual bridge that connects different blockchains, allowing them to communicate and share information transparently and securely. Launched with the purpose of solving interoperability and token transfer challenges, Wormhole stands out as an essential tool in the world of decentralized finance and decentralized applications.
Through Wormhole, developers and users can overcome barriers that previously limited communication between disparate blockchains. This interconnection capacity opens up a range of possibilities for the creation of new decentralized applications, as well as for the transfer of digital assets between different networks. By facilitating interoperability between blockchains, Wormhole plays a key role in promoting growth and innovation within the blockchain universe.
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Source: https://portalcripto.com.br/wormhole-anuncia-lancamento-de-piquetagem-e-governanca-detalhes/
