Wormhole traverses 1B with cross-chain messages before token initialization.
The cross-chain messaging protocol wormhole has surpassed 1 billion messages sent since its launch in September 2021.
According to data from a wormhole scan on February 13, the messaging protocol currently processes about 110,640 daily messages, moving $30 million in daily funds, oracle feeds, and non-viable tokens (NFTs) across 30 blockchains for a total volume of $39.6 billion.
In January, the wormhole reached $1 billion in total value locked (TVL), with Ether (ETH), Phantom (FTM), and Solana (SOL) assets taking the top spot with $675 million, $174 million, and $96 million, respectively. The protocol's TVL reached $3.8 billion in May 2022, the start of the crypto winter before the collapse of the Terra Luna ecosystem.
Currently, massive transactions facilitated by chain bridges move between Polygon and Shiloh and vice versa from Solana to Polygon. Solana's decentralized exchange (DEX) Pyth Network is one of the largest users of wormhole messaging, accounting for 48% of blockchain-oracle-mediated transaction volume. Other decentralized applications that use Wormhole include Uniswap, Circle, Lido, and Synthetix.
In the year The exact date of the landing has not been determined.
“Basically, a token-based governance system allows token holders to direct and influence the direction of the protocol,” the developers wrote. “After the token generation and distribution events, on-chain governance mostly directs community programs and treasury-related activities.”
In the year November 29, 2023 Wormhole Wormhole has announced a $225 million round of funding led by Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital.
Related: Wormhole integrates native USDC transfers for four blockchain networks
