CONFIRMED WORMHOLE AIRDROP (W TOKEN)
Tokens are hard to move between blockchains without relying on centralized exchanges for bridging and swapping tokens. However, this means users are subject to counterparty risk.
Decentralized applications (DApps) and smart contracts on different blockchains cannot communicate with each other, making interoperability between chains difficult to achieve.
Wormhole solves this by monitoring several chains for messages emitted by smart contracts on those chains. This is achieved through the Wormhole Core Layer, a core contract deployed on each chain that routs the received messages to the target chain, the core function of the previously mentioned universal message-passing protocol. A guardian network consisting of 19 nodes secures Wormhole.
Wormhole is a fully generic, cross-chain message transfer protocol designed to facilitate interoperability between heterogeneous blockchains beginning with Ethereum, Solana, Terra and Binance Smart Chain.
Wormhole has raised $220M in funding from investors like Coinbase Ventures and Multicoin Capital. They don’t have their own token yet but could potentially launch one in the future. There’s speculation that they may drop an airdrop on users who’ve used their cross-chain bridge. Portal is the bridge app by Wormhole, so using the bridge make you eligible for an airdrop when they launched W token
Wormhole's Portal Bridge allows you to bridge tokens across different chains. Instead of swapping or converting assets directly, Wormhole locks your source assets in a smart contract and mints new Wormhole-wrapped assets on the target chain. You can then swap Wormhole-wrapped assets in exchange for other assets on the target chain.
Wormhole is a generic message passing protocol that enables communication between blockchains.
This simple message passing protocol enables developers and users of cross chain applications built by developers to leverage the advantages of multiple ecosystems.
Wormhole is not a blockchain itself, it provides a means of communication between blockchains or rollups.
Wormhole is not a token bridge, though there are protocols built on Wormhole that serve this purpose.
What can Wormhole be used for?
- Cross Chain Exchange: Using Wormhole Connect, a developer can build an exchange that allows deposits from any Wormhole connected chain, massively increasing the liquidity their users can access.
- Cross Chain Governance: If a group of NFT collections on different networks wanted their holders to vote on a combined proposal, they could pick a "voting" chain, and use Wormhole to communicate votes cast on their disparate chains to the voting chain.
- Cross Chain Game: A game could be built and played on a performant network like Solana, and it's rewards issued as NFTs on a different network, for example Ethereum.
Wormhole is a generic message-passing protocol that lets users of cross-chain applications built by developers enjoy the benefits of multiple ecosystems.
It is primarily built for developers, so they can build dApps that allow deposits from any Wormhole-connected chain, increasing the liquidity their users can access.
It can also be used by NFT projects to serve as the bridge between different voting chains in the community; most specifically, if a group of NFT collections on different networks wanted their holders to vote on a combined proposal, they could pick a “voting” chain using the protocol.
Lastly, it is beneficial for users who hold Ethereum-based tokens and want to use Solana-based dApps, as they can convert these tokens to be compatible with the Solana ecosystem.
Wormhole supports a number of different blockchains and environments. Since many of the concepts for using Wormhole within a given blockchain environment are the same, this section is organized by environment and individual chains are detailed within the environment page.
Environments Supported
Environments Supported
Portal: www.portalbridge.com/#/transfer
- Carrier: www.carrier.so
- Mayan Finance: www.swap.mayan.finance
- DLN (To Solana chain): https://app.dln.trade
- OmniBTC (To Aptos chain): app.omnibtc.finance/swap
- Allbridge (To Solana chain): https://core.allbridge.io
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