Hassan Maishera
On Wednesday, the Wormhole team announced via X that the Wormhole Reserve has purchased one million $W tokens ($58k). The Wormhole Reserve is a strategic reserve of W where onchain and offchain protocol value will accumulate to support the growth of the Wormhole ecosystem.
Protocol revenues and value generated across Wormhole, Wormhole Portal, and ecosystem applications are channeled into W, with proceeds contributing to the Wormhole Reserve.
As Wormhole adoption increases, W accrues value through network expansions, Portal fees, ecosystem applications, and other mechanisms. This results in a growing portion of W locked away in the Wormhole Reserve, directly supporting long-term protocol sustainability.
Wormhole is a leading interoperability platform powering multichain applications and bridges at scale. Wormhole’s modular suite of open-source, permissionless protocols and tools is being used by multichain builders to create some of the most popular web3 applications. W is trading at $0.05815, up 2.2% in the last 24 hours.
