Wormhole, a cross-chain messaging protocol, surpassed a cumulative one billion in messages sent since its inception in September 2021, stated Cointelegraph.
With insights from Wormhole Scan on February 13, 2024, the messaging protocol currently processes around 110,640 daily messages. They are believed to move $30 million in daily funds, oracle feeds and non-fungible tokens (NFTs) across 30 blockchains, with about $39.6 billion in cumulative volume.
“Fundamentally, a token-based governance system allows token holders to guide and impact the protocol’s direction. After the token generation and distribution events, on-chain governance will largely guide community programs and treasury-related activities ,” developers explained.
Sources revealed that on November 29, 2023, Wormhole had announced a $225 million raise at a valuation of $2.5 billion. The funding was led by Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital and Arrington Capital, among others, concluded Cointelegraph.
(With insights from Cointelegraph)
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