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Wormhole introduced Wormhole Governance Staking, allowing W token holders to transfer tokens from Solana to EVM chains to participate in governance. Wormhole, an interoperability platform, has announced the launch of Stake for Governance. This feature allows W token holders to transfer their assets from Solana to the EVM chain and participate in the governance of Wormhole. The daily transfer limit for W tokens is 100 million.
Stake for Governance gives W token holders the power to determine the future path of the Wormhole DAO and ecosystem. Wormhole’s announcement of this exciting feature will be the decentralization’s first step towards MultiGov, a multi-chain governance system for DAOs. Wormhole DAO will initially implement MultiGov, which will allow W token holders to set, vote, and execute governance proposals for each supported chain.
W token holders who want to participate in governance must go to the governance portal, transfer the tokens to a supported EVM chain, select a delegate, and then stake the W tokens. This form of delegation is critical to the community as it represents the interests of the token holders and the goals of the community Wormhole. W tokens are available on Solana, Ethereum, Arbitrum, Optimism and Base through the Wormhole Native Token Transfer (NTT).
Image: The Crypto Times
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