Buy Wormhole (W), it’s easy!

Why buy Wormhole (W)?

You should buy a Wormhole token because it is the most popular and widely used blockchain interoperability platform. In other words, it allows its users to send their cryptocurrencies between different, otherwise incompatible networks. 

To choose whether to buy and hold Wormhole you must, also, know how W, the native token of what is considered DeFi’s most famous bridge, works, although this definition is reductive. W is a governance token, i.e. a crypto that allows those who own it to express their opinion on future protocol decisions. This means that as a W holder, you have a say in the development and direction of the Wormhole platform. 

In practice, W holders can decide, for instance, whether to add or remove new blockchains from the ecosystem or whether (and how) to change transaction fees. Wormhole (W) was deployed on Solana’s blockchain and distributed on 3 April 2024 to users using the platform.

What it is

As mentioned, Wormhole is a platform built to connect different blockchains that are not natively compatible. It is, therefore, part of the multichain operation. 

It is reductive to assume that Wormhole is only a bridge. In fact, Wormhole is an infrastructure that does not require an independent and dedicated user interface. Due to its complexity, Wormhole is developed by several teams; the most famous are the Wormhole Foundation, Wormhole Labs, xLabs, Superteam, Lurk (ZK engineering), and Zpoken (ZK engineering).

Suppose you are deciding whether to buy Wormhole (W). In that case, you should know that this Web3 protocol has raised an impressive USD 225 million from several significant industry investment funds, such as Jump Crypto, Coinbase Ventures, Multicoin Capital, ParaFi and Dialectic. These funding rounds have enabled the project to reach a respectable valuation of around $2.5 billion.