Out of the Wormhole #1
Wormhole October Update
This is our first monthly Wormhole recap — here you’ll find at a glance the most important things that happened within the Wormhole ecosystem!
- Terra began to execute on plans to decommission Shuttle bridge in favor of Wormhole. We’ve already seen $107M of UST and ~$45M of Terra locked! For more details, check out Terra’s Medium post
- BSC token & NFT bridge launched https://twitter.com/wormholecrypto/status/1447587130624995330
- Huge expansion in bridge usage: Wormhole now has more than $500M in TVL, ~1200 messages are sent via Wormhole per day and 250+ NFTs have been wormholed
- Community growth! You love to see it! Up to 19,000+ Twitter followers and 3,600 Discord members! The launch of Terra accounted for a big chunk of that growth 🚀
- If you’re a nerd and love on chain data like us, check out https://wormholenetwork.com/en/explorer where you can explore the Wormhole’s in-depth details on messages sent cross chain
- Alpha leak — new network support coming soon 👀
Table of contents
What is Wormhole?
Wormhole Network is a generic message passing protocol connecting high value blockchains together, with applications leveraging the messaging layer to facilitate interoperability between ecosystems. Secured by 19 guardians, developers are able to leverage the protocol to send arbitrary data cross-chain including tokens, NFTs, oracle data, governance decisions and more. Recent implementations of Wormhole’s protocol include the Token bridge and NFT bridge, allowing for seamless asset transfers across supported chains. Currently connected to Solana, Terra, Ethereum and Binance Smart Chain, it also allows for fast consensus, is easily extensible and upgradable to connect to more chains allows developers to build on top of Wormhole easily!
We’ve had a lot of exciting events happen within the Wormhole ecosystem! Recent milestones include:
Binance Smart Chain token & NFT bridge launch
Wormhole launched support for BSC allowing users to bridge their NFTs and tokens cross-chain! The addition of the BSC community brings incredible value to the Wormhole network through its vibrant DeFi and NFT communities and focus on user experience. Since launching, more than 3,300 messages have been sent to/from BSC! Learn more in our Medium post.
Terra token bridge launch
#Lunatics rejoice! On October 19 we added the Terra to our growing list of supported chains. The addition of Terra will allow users to easily transfer their wUST and wLUNA between ecosystems with support for mAssets in the near future. Liquidity for UST(Wormhole) is available on @curvefinance, @Saber_HQ and Apricot Finance with markets launching soon to Mercurial finance too! For more details, check out Terra’s Medium post on the launch including a “how to guide” for migrating V1 wormhole wrapped wUST and wLUNA to v2 assets.
The Wormhole explorer is here! Users can explore in-depth details about messages, view daily and monthly bridged messages between the different chains. We’ve wormholed over 12,000+ messages over the past month between the four supported chains. More updates and features to come soon! Here’s the link!
250+ NFTs wormholed across chains
As of now, users have wormholed more than 250 NFTs between Ethereum, Solana and BSC, including the first ever(wrapped) Cryptopunk bridged to Solana! Visit the punk: https://explorer.solana.com/address/4uU8r6LR8FNMvxQLZMdYjLFrBL5M6wPtjxpYZhnRcy8L
At the end of October we’ve reached the incredible milestone of $500M+ TVL! There’s still a long way to go, but we’re excited and thankful to our partners and each individual user for their early trust on building the future of interoperability. You can find our live stats here: https://wormholebridge.com/#/stats
We’re thrilled to be working with partners within the different ecosystems to support Wormhole wrapped tokens! Some liquid markets include:
- Mercurial launching Solana’s first 4pool for wrapped wormhole tokens (USDC, wUSDC, wUSDT, wDAI)
- Saber support for Wormhole V2 wrapped assets including weUSDC, weUSDT, wFRAX, wFTT, wSRM, wHUSD, wBUSD, wETH, as well as launching the first wormhole V2 UST liquidity pool on Solana!
- Orca’s whETH(wormhole) pool, allowing users to deposit whETH and swap for other assets on Solana.
- Curve finance users are able to deposit and swap their wUST(wormhole) within this Curve pool!
- Francium allows users to deposit whETH wrapped assets into their farming pools such as whETH-USDC, mSOL-whETH , whETH-SOL as well as a single lending pool for whETH!
- Apricot Finance now supports USTw on Solana. Check out how to make your first USTw deposit under Apricot Lend!
- Loop Markets now offers markets for whWETH, whWBTC on Terra. Note: this is wETH or BTC bridged from Ethereum to Terra
- Almond.so has launched wFTT(wormhole) and wSRM(wormhole) v2 pools!
Check out the liquid markets for Wormhole wrapped tokens here!
Winner of the Wormhole’s Solana Hackathon “IGNITION” prize
Swim protocol is the winner of the Wormhole’s $30K Community prize! Swim protocol is a multi-chain AMM leveraging Wormhole, allowing users to connect to Ethereum/Binance Smart Chain/Solana and swap native assets across these chains! For more details about Swim, check out their medium article. https://swimprotocol.medium.com/hackathon-results-6e7d8fc0a05c
What happened before October?
Launched V2 & Token bridge
Since Introducing Wormhole’s generic message protocol at the start of August, Wormhole has implemented a token bridge with initial support for Ethereum and Solana (now also connected to Terra and Binance smart chain!) allowing wormhole wrapped assets to be seamlessly transferred between the different ecosystems.
Launched NFT bridge
Launched on September 22, the Wormhole NFT Bridge allows users to move NFT assets between Ethereum, Solana and BSC. It currently allows ERC-721 and SPL NFTs (with meta-data and quantity of 1) to be bridged between supported chains, with support for EIP-1155 NFTs coming in the future!
View the NFTs wormholed from Solana to Ethereum here.
Launched NFT verifier tool
With our origin verifier tool, users can manually verify the authenticity of an NFT. The tool only can only verify the origin of a NFT which can help users to authenticate the NFT manually. It will not tell whether a NFT is a real or fake. Check out our guide here!
We’re fortunate to have a set of the finest network operators in the space as our guardians for Wormhole! We couldn’t have done this without each of these valuable community members:
Chorus One, Staked.us, P2P Validator, triton.one, Certus One, Everstake, Chainode Tech, ChainLayer, Staking Fund, Dokia, 01Node, Moonlet, Inotel, Figment, Staking Facilities, HashQuark, Forbole, Syncnode and Smith MCF.
Wormhole’s mission is to power interoperability between high valued blockchains. We are thrilled to be launching support for Polygon next. Keep up to date and join our budding communities on Twitter, Discord, Medium, and Telegram. We’re thrilled for the road ahead!