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04 May 2022

4 min read

Out Of The Wormhole — May Newsletter

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Welcome to the sixth edition of OOTW, summarizing what went down in April 2022!

Table of contents

  1. Activate x Wormhole Miami
  2. ShipShow Episodes 3
  3. Decommas integrates Portal bridge
  4. UST(Portal) on Avalanche via Pangolin
  5. Wormhole Frens — Atlas Dex
  6. SALT Crypto Bahamas
  7. Wormhole Frens — MobLand
  8. Swim Protocol AMA
  9. Telegram channel update
  10. Liquid markets update

1. Activate x Wormhole Miami create the first chain-agnostic hackathon

Yes, yes, yes. We’re partnering with Activate to bring you the first chain agnostic hackathon. Ethereum, Solana, Algorand, StarkNet, NEAR Protocol, Celo, Gnosis Chain… builders can choose from the greatest ecosystems available to buidl on.

We can’t wait to see what cool ideas and projects will emerge May 18–22nd in Miami!

2. Check out “The ShipShow Episode 3 — Wormhole”

Jump Crypto prez Kanav Kariya and Hendrik Hofstadt, Director of the Wormhole Foundation, talk all things cross-chain and go down the Wormhole to explore the depths of the protocol and its ecosystem on our 3rd episode of The ShipShow.

3. The Portal bridge brings seamless cross-chain transfers to DeCommas

More seamless cross-chain transfers: DeCommas, a decentralized liquidity aggregator, integrates the Portal bridge and allows users to quickly transfer USDC between Solana and Ethereum. This all happens within the DeCommas App without facing any wrapped assets.

Let’s bridge!

4. Double rewards for UST(Portal) on Avalanche with Pangolin

Starting March 31st, any tokens bridged to Avalanche through Portal will have the ticker “UST”. Thanks to a Terra Labs governance vote to support and incentivize UST adoption in the Avalanche ecosystem, Pangolin liquidity providers of UST(Portal) will be eligible for increased rewards. Over the coming three months, an extra $500k from Terra will be used to reward UST(Portal) liquidity providers in three new $UST Super Farms:

  • $UST 🤝 $PNG
  • $UST 🤝 $AVAX
  • $UST 🤝 $USDC

Head over to Pangolin and get your share of the double rewards.

5. Wormhole Frens — Atlas DEX

We have some really cool frens! Atlas is a cross-chain DEX and liquidity aggregator designed to create a seamless trading experience for anyone looking to exchange tokens. It splits trades across different liquidity pools and provides users with minimal slippage.

Atlas utilizes Portal’s underlying bridging protocol: in a fee-less bridging process, the origin token gets locked in a smart contract, and a new portal wrapped token gets minted 1:1 on the target chain. Subsequently, Atlas swaps the portal wrapped token on one of the target chains DEXs — chosen by the lowest slippage and sufficient liquidity. This allows users to have a seamless experience, swapping one native token for another native token across chains.

Read the full, in-depth blog post, including step-by-step instructions, here.

6. Sipping & Shippin’ at SALT Crypto Bahamas

A crypto conference in the Caribbean where you can sip cocktails with Tom Brady, SBF, Gisele Bündchen, Katy Perry, or Bill Clinton while watching the sun set? We’re in.

But builders didn’t just chill & mingle — they also shipped. And Hendrik Hofstadt, he talked. The panel about the multi-chain future offered a glimpse of what’s to come. If you missed the live stream; a recap video will be published shortly!

7. The Mob is coming to Wormhole

MobLand, the first-ever Mafia-themed Metaverse, is free-to-play. This revolutionary MAFIA-as-a-DAO (MaaD) system lets you play-to-earn, while making the Metaverse more accessible.

The MobLand crew believes, as we do, that building cross-chain is advantageous for all users, and this partnership will bring those advantages to the forefront for everyone in the GameFi economy.

MobLand uses a core layer integration from Wormhole, which goes beyond what can be accomplished by a simple bridge.

Check out our full, in-depth Wormhole Frens — Mobland blog post.

8. Swim Protocol AMA: from hackathon winner to multi-chain liquidity protocol

In the Bahamas, we found some time to sit and chat with Swim Protocol — the Solana Ignition hackathon winner — and discover how it implements the Portal bridge.

Listen to the full Twitter Spaces here:

Swim provides a simple way to transfer tokens across chains via multi-token liquidity pools and utilizes the Portal bridge for the underlying bridging function. Currently connected to BSC and Ethereum, users easily send native USDC or USDT from one chain and receive native USDC or USDT on the target — with no need for wrapped assets. Give it a try today 🎉

9. Wormhole Telegram update: announcements only

Since April 27th, our Telegram channel is an announcements-only group: members aren’t able to send messages to the group anymore. We took this measure to improve security and protect members from scam and phishing attacks.

To be a part of the Wormhole community, hang with fellow Einsteins, and ask any questions, join our Discord server.

10. Liquid Markets update

Latest update to our Liquid Markets doc:

  • Updated naming convention from (Wormhole) to (Portal)
  • Fantom: Curve market for UST(Portal)
  • Avalanche: Pangolin has launched three new superfarms (UST-PNG, UST-AVAX, UST-USDC) with double rewards of $UST and $PNG
  • Oasis: UST (Portal) from Terra
  • Terra: wAVAX, wavUSDC.e, wBNB, wBUSD, wETH, weUSDC, wMATIC, wpoUSDC, wSOL, wsoUSDC

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