Out of the Wormhole #2

Wormhole November Update

Welcome to our monthly newsletter where we share what’s been happening at Wormhole Network over the past month! For those who’ve missed our first instalment of the newsletter, check it out here where we recap October 2021 — liquid markets for Wormhole assets, milestones, and more.

TL;DR

November

• FTX enables withdrawals and deposits for whETH and 13 other selected Wormhole assets

• Wormhole Network launches support for Polygon, allowing users to easily bridge tokens and NFTs between supported chains!

• New liquid markets for Wormhole wrapped assets on Raydium, Mercurial, Saber, Francium, Quickswap, Uniswap and Pancakeswap. Check out the complete list here.
• Wormhole TVL has experienced insane growth with 200M+ added to the token bridge in one month. Currently, Wormhole TVL is sitting at $700M+ 🚀

Table of Contents

1. November Recap
2. New feature alert: Token origin verifier tool
3. Building on Wormhole
4. Wormhole video tutorials
5. Wormhole community

November Recap

Quick overview of exciting announcements we’ve had during November:

FTX allows withdrawals/deposits of Wormhole wrapped assets

FTX now allows users to directly withdraw and deposit select Wormhole wrapped assets such as whETH, whFTT, whUBXT, whLINK, whSXP, whYFI, whSUSHI, whALEPH, whCREAM, whUNI, whFRONT, whAKRO, whMATH & whHXRO! This is the first time FTX has enabled withdrawals and deposits for tokens wrapped by a decentralised bridge. Check out the tutorial!

Polygon now supported on Wormhole Network

Another exciting chain has joined the Wormhole Network! Users can now send tokens and NFTs to/from Polygon and supported chains, allowing more access to DeFi playgrounds and markets. There are selected liquid markets for Wormhole wrapped tokens available on Quickswap, allowing users to seamlessly wormhole their token to and from Polygon! Try to wormhole some tokens!

Wormhole gaining adoption with more than 200M+ added to TVL in one month!

Another huge TVL milestone! Wormhole token bridge TVL has now reached over $700M+ 🚀 With additional support from Polygon and more liquid markets, users can now wormhole more tokens than before. Stats like TVL, NFTs bridged and transaction count can be viewed here. Detailed information about transactions, messages and recent activity can be viewed here.

Tons of liquidity!

• Raydium has launched markets for selected tokens bridged from Ethereum to Solana such as: $SHIB, $SUSHI, $UNI, $AXS, $MANA, $SAND and more! Users can take advantage of the low fees and fast transactions on Solana, earn rewards and trade tokens! To find out more, view Raydium’s article here
• More than 25 liquid markets have been added for Wormhole wrapped tokens on Quickswap, Uniswap and Pancakeswap! Before wormholing your token, check out the overview of markets to see which tokens have liquidity.
• Mercurial has launched the first 4pool (wbBUSD, wbUSDC, wbUSDT and USDC) for stables sent from BSC to Solana using the Wormhole token bridge. Check out their tutorial here.
• Aldrin has launched a UST/mSOL pool
• Port finance has launched deposit and lending for wormhole wrapped ETH (whETH) and wUST(wormhole)
• Francium allows leveraged farming for assets sent cross-chain using Wormhole. For more information, check out their Medium article.
• Saber has launched pools for SRM(wormhole), HBTC(Wormhole) and ibBTC(Wormhole). Find out more here and start earning rewards!
• Atrix, a Solana hackathon winner and also recipient of a 1M grant from serum DAO, has over $100M+ TVL for wormhole wrapped assets! Check out their farms for some juicy SRM rewards 👀

UST gains momentum into AAVE community

Wormhole has submitted a governance proposal for adding support for UST on AAVE as there is sufficient borrowing/lending demand given there are a variety of existing use cases. UST was initially rejected by AAVE governance twice in 2021 over concerns about the way the token was sent cross-chain via their centralized Shuttle bridge. Momentum looks positive for acceptance after Terra’s adoption of Wormhole’s trust minimized solution. Read more about the proposal here and leave a comment if you would like it to be supported!

New feature alert: Token origin verifier tool

Wormhole’s latest feature allows users to check what token they’ll receive on a target chain as well as finding the origin source information of their wrapped token! Check out our video tutorial here.

Building on Wormhole

Projects leveraging Wormhole’s generic cross messaging solution are rapidly expanding! We’re seeing cross chain NFT market places (Tiexo), NFT fractionalization (Bridgesplit), relayers, games, cross chain atomic swaps and more leveraging wormhole!

If you’re keen to build on Wormhole’s generic message passing protocol or integrate Wormhole within your dAPP, check out our updated documentation and SDK! If you have an idea and want to jam with the Wormhole team, DM!

Video tutorials now available!

We’ve created some more tutorials and videos on how to best Wormhole!

• How to use Wormhole: Step-by-step

• How to add tokens to MM
• How to use token origin verifier tool

Wormhole community is growing

We’re amazed by the support from the Wormhole community. With over 23K Twitter followers, 4.8K Discord members and 2100+ Telegram members, thank you all for being a part of our community!

That’s the end of our November newsletter. Don’t forget to join our community and keep up to date with our up and coming announcements. We’re always happy to hear your feedback, join our discord and drop us a comment!

Twitter: https://twitter.com/wormholecrypto

Discord: discord.gg/wormholecrypto

Medium: wormholecrypto.medium.com

Telegram: https://t.me/wormholecrypto

Website: http://wormholenetwork.com/