Cross-chain messaging protocol Wormhole has released a roadmap for its W token, set to launch on the Solana network. The goal is to enhance the token’s utility across various blockchain ecosystems.

The first phase of the rollout will introduce W as a native SPL token on the Solana network. This initial step aims to establish a strong foundation for W’s multi-chain ambitions within the vibrant and fast-growing crypto ecosystem of Solana.

Phase 2 will see W expand to all Wormhole-connected chains, supporting Ethereum Virtual Machine (EVM) and utilizing Wormhole Native Token Transfers (NTT) for seamless token transfers across blockchains without the need for liquidity pools. This expansion will enable W transfers not only on Solana but also on the Ethereum mainnet and various layer-2 solutions without liquidity fragmentation.

W holders will have the opportunity to lock and delegate their tokens on both Solana and EVM chains in preparation for on-chain governance. This governance will be managed by the Wormhole DAO, a multi-chain governance system overseeing the development of the Wormhole ecosystem. However, specific timelines for each phase and the arrival of the Wormhole DAO have not been provided by the project team.

Several crypto exchanges, including Bitget, OKX, and Backpack, have announced their plans to list the W token for spot trading once the airdrop claim becomes available to eligible users. Wormhole has allocated 6.17% (617,305,000) of the W supply to 397,704 eligible wallets for airdrop participation.

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