PANews reported on December 5 that the cross-chain protocol Wormhole announced that its W token staking reward program (SRP) is officially launched. Users can now stake W tokens on Solana and EVM chains including Ethereum, Arbitrum, Optimism and Base. The first reward period will be traced back to June 6, 2024 when the EVM chain staking starts, and no less than 50 million W tokens will be distributed as rewards.

The program runs through the newly launched W Dashboard, where users can manage stakes, view detailed metrics, and track rewards. Wormhole said it plans to launch the multi-chain governance system MultiGov in the first quarter of 2025, when stakers will be able to participate in the voting and execution of cross-chain governance proposals. The total amount of W tokens available to the community is currently about 858 million, accounting for 17% of the original issuance of 1.7 billion.