Wormhole launches W staking rewards program, offering at least 50 million tokens in the first reward period

According to official information, the cross-chain protocol Wormhole has announced the launch of its W (SRP). Users can now stake W on Solana and EVM chains including , , , and . Reward Period #1 is now open, which can be traced back to June 6, 2024 when W staking began on EVM chains, and will provide a reward pool of at least 50,000,000 W. The program is operated through the newly launched W Dashboard, where users can manage their staking, view detailed metrics, and track rewards. After the initial reward period, the program will transition to periodic reward periods. Of the initial 1.7 billion W (17% of the supply), approximately 858,000,000 W are currently reserved for the community. The W is intended to be an ongoing program to encourage continued participation in the Wormhole ecosystem. Over time, new features and utilities will deepen the value of participation. Wormhole states that a multi-chain governance system, MultiGov, is planned to be launched in Q1 2025, marking the beginning of the Wormhole DAO, where users can delegate, propose, and vote on and EVM chains.