Key Points:
Wormhole, the interoperability platform, has announced the launch of Stake for Governance. This will allow holders of the W token to transfer their holdings from Solana to the Ethereum Virtual Machine (EVM) chain and take part in the governance of Wormhole. The daily transfer limit for W tokens is 100 million.
Stake for Governance will give W token holders the right to shape the future path of the Wormhole DAO and ecosystem. The announcement of this notable feature by Wormhole will be decentralization’s first step towards MultiGov—a multichain governance framework for DAOs.
Wormhole DAO will first implement MultiGov, which will allow holders of W tokens to establish, vote, and execute governance proposals on any supported chain.
Staking W tokens offers users the ability to delegate their voting power for important decisions that need to be made through governance. Token holders can continue to restake their tokens to delegate their voting power without relinquishing their ownership. Delegates play an important role in Wormhole DAO, providing feedback on governance proposals and ensuring active participation.
Readmore: Sanctum CLOUD Airdrop To launch In Few Weeks
W token holders who want to stake for governance should go to the Governance Portal, transfer tokens to a supported EVM chain, choose a delegate, and then stake W tokens. This form of delegate is vital for the community, representing the interests of token holders and the goals of the Wormhole community.
W tokens are available on Solana, Ethereum, Arbitrum, Optimism, and Base through Wormhole Native Token Transfers (NTT). Transferring W tokens to an EVM chain is a necessary process for staking for governance.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…
Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.
The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…
The VanEck Pyth ETN, backed by assets stored in cold storage with Bank Frick, has…
Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…
Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire
This website uses cookies.