W staking is now live for W holders on Solana and EVM chains: Ethereum, Arbitrum, Optimism, and Base. Additionally, users can now access a new W Dashboard as part of a larger Wormhole Staking Rewards Program (SRP), an ongoing governance rewards program designed to reward W holders for their participation and support in shaping the future of Wormhole.
With Reward Period #1 now open and dating back to the start of W staking on EVM chains on June 6, 2024, for early stakers, this program aligns staking, governance, and rewards into a seamless experience, encouraging ongoing engagement in the Wormhole ecosystem.
If you’re new to W, learn more about the W token here.
The W Dashboard
The W Dashboard allows W holders to actively manage their staking and governance participation within the Wormhole ecosystem. Users can stake their W to earn rewards, view detailed staking metrics, and track unlocked or locked rewards. Upon the launch of the Wormhole DAO when MultiGov launches in Q1, the dashboard will also provide comprehensive governance tools, allowing users to review, vote on proposals, and monitor delegate performance. Additionally, real-time metrics such as transaction volumes, blockchain integrations, and app usage ensure holders stay informed about the Wormhole ecosystem’s constant growth.
Reasons to Stake Your W
Staking your W is a commitment to participation in the evolution of the Wormhole platform and ecosystem. By staking W, you’ll be eligible to participate in the Wormhole DAO’s governance and earn rewards for such participation.
Here’s why staking matters:
- Governance: By staking W for governance and delegating, you’ll be eligible to participate in the Wormhole DAO governance and votes, giving you influence in critical decisions that will define the future of the world’s leading interoperability platform.
- Earn Rewards: Qualifying W stakers are eligible to participate in ongoing reward periods designed to recognize and amplify their contributions to Wormhole. Reward Period #1 will provide a pool of a minimum of 50,000,000 W in rewards.
- Access Future W Utility: The W Staking Dashboard is just the beginning. By staking, you position yourself at the forefront of an evolving platform that will introduce exclusive features, governance enhancements, and additional staking use cases for holders.
Details on EVM and Solana Staking
The W Dashboard and staking are available to holders on both Solana and EVM-based chains. There will be slightly different experiences whether staking on EVM or Solana.
Solana Users
Solana token holders will stake W directly as SPL tokens. As part of the staking process for this initial phase, staked tokens will be sent to a locking contract. Once staked, W (SPL) tokens will be eligible to receive rewards and can claim via the dashboard when available. You can see the status of your staking and rewards in the W Dashboard.
EVM Users
As W holders on EVM chains who are already participating in the Stake for Governance program know, W EVM tokens are not locked when staking. You’ll be able to see your staking status and eligible rewards in the W Dashboard. If you are already staked for governance on an EVM chain, no action is required, but you can still use the dashboard to check staking status and see rewards when available.
Reward Period: 1
The first reward period is a special introductory phase designed to onboard users and encourage early participation. Reward Period 1 began with the introduction of Stake for Governance for EVM stakers on June 6, 2024. It will now include Solana stakers and conclude on an end date to be announced in the future. Here’s what you need to know:
- A minimum of 50,000,000 W will be distributed during this phase.
- This initial period includes exclusive incentives for early stakers, setting the stage for the broader Staking Rewards Program (SRP) continuing in 2025.
- User actions of early staking adopters on EVM chains, including Discord Steakorrrs, will be taken into consideration.
- While future periods will reward governance participation, this first phase focuses on staking to simplify onboarding.
- Both Solana and EVM holders can stake seamlessly via the new portal, with support for transfers between chains.
- If you are already staked for governance on an EVM chain, no action is required, but you can still use the dashboard to check staking status and see rewards when available.
Ongoing Reward Periods
After the initial reward period, the program will transition into recurring reward periods. There are currently ~858,000,000 W tokens of the original 1.7 billion (17% of supply) remaining for the community (see tokenomics). The W Staking Rewards Program is built to be an ongoing initiative to encourage sustained engagement within the Wormhole ecosystem. Over time, new features and utilities will deepen the value of participation.
The Vision for the Wormhole DAO
This launch is more than staking—it’s a foundational step in realizing a truly decentralized, multichain governance system. MultiGov, the world’s first multichain governance system, will launch soon starting with the Wormhole DAO to enable W holders to create, vote on, and execute proposals across chains rather than being required to perform all governance on a single chain. Wormhole DAO is set to be a leader in this groundbreaking model, and by staking your W now, you’re joining a movement to redefine what decentralized governance can achieve.
How to Get Started
- Visit the W Staking Dashboard: The dashboard makes staking seamless whether your W are on Solana or an EVM chain.
- Stake Your W: Start earning rewards and activating your role in Wormhole’s DAO.
- Stay Connected: Watch for updates as we roll out new staking features and utilities.
W Staking and Governance Timeline
- June 2024: W staking goes live on EVM Chains: Ethereum, Arbitrum, Optimism and Base
- December 2024: Wormhole Staking Rewards Program (SRP) announced and Solana staking goes live. Solana and EVM chains: Ethereum, Arbitrum, Optimism, and Base
- Q1 2025: MultiGov for Wormhole Goes Live, marking the start of the Wormhole DAO. At this point, delegation, proposals, and voting can begin across Solana and the EVM chains.
- 2025: Staking Rewards Program and Wormhole governance continue to grow
- 2025: Additional W use cases go live for securing the network and accessing products
Visit the W Staking Dashboard →
W Staking Rewards Program FAQ
Q: What happens if I unstake and then stake on another chain like Solana?
A: Since Wormhole staking is multichain, users have the choice to stake wherever they want. If a user has already staked on an EVM chain prior to today’s announcement of the Staking Rewards Program (SRP), the simplest path would be to remain on EVM and continue building up EVM staking rewards. However, unstaking on an EVM chain and staking on Solana is permitted and will begin a new reward calculation on Solana for the user. Any qualifying rewards on EVM since June would still be earned at the end of Reward Period 1.
Q: Does Steakorrr role have additional rewards? If I staked without Steakorrr role am I still included?
A: User actions of early staking adopters on EVM chains, including Discord Steakorrrs, will be taken into consideration for rewards.
Q: If I had delegated to myself, would I still be counted for rewards?
A: Yes, any form of staking or delegation is eligible for rewards.
Q: If I've already staked on Tally, do I need to unstake and restake on the dashboard?
A: No, if you’ve previously staked, you will see your staked balance on the W Dashboard.
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About Wormhole
Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.
The wider Wormhole network is trusted and used by teams like Circle, Securitize, and Uniswap. To date, the platform has facilitated the transfer of over 50 billion dollars through over 1 billion cross-chain messages. To learn more about Wormhole, follow on Twitter, join the Discord, or read more on the blog.