wormholes update 24/2/2024

Key Points

• Wormhole ecosystem recently launched staking rewards for Period 1, distributing over 50 million W tokens.
• Support for several blockchain networks will end by summer 2025, affecting Terra, Oasis, and others.

Overview

The Wormhole ecosystem, a leading blockchain interoperability platform, has seen significant developments recently. It connects over 30 blockchains, facilitating over $40 billion in transfers and 1 billion cross-chain messages. Here's what you need to know about the latest updates.

Staking Rewards Program

Wormhole introduced the Staking Rewards Program (SRP) Period 1, allocating over 50 million W tokens to 58,415 eligible addresses. These rewards vest over 90 days and can be claimed via the W Dashboard. This initiative encourages participation in the Wormhole DAO, enhancing governance and potential access to new products.

Network Support Changes

Surprisingly, Wormhole plans to deprecate support for multiple networks by summer 2025, including Terra, Terra2, Oasis, Aurora, Acala, Karura, and Xpla. Some Cosmos chains like Injective and Osmosis will transition to community support, impacting developers and users relying on these networks.

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Survey Note: Detailed Analysis of Wormhole Ecosystem Updates

The Wormhole ecosystem, a pivotal player in blockchain interoperability, has undergone notable updates recently, reflecting its evolution in the multichain landscape. This report synthesizes all relevant details, providing a comprehensive overview for stakeholders and enthusiasts.

Background on Wormhole

Wormhole is a cross-chain messaging protocol that enables secure transfers of data and tokens across over 30 blockchain networks, including Ethereum, Solana, and others. It has facilitated over $40 billion in value transfers and processed more than 1 billion cross-chain messages, supporting a thriving ecosystem of over 200 applications. Key statistics include:

• Blockchains Supported: 30+
• Messages Sent: 1 billion+
• Community Members: 700,000+
• Wormhole Fellows: 112

This infrastructure is crucial for decentralized finance (DeFi), non-fungible tokens (NFTs), and governance, leveraging technologies like Native Token Transfers (NTT) to enhance interoperability.

Recent Updates: Staking Rewards Program (SRP) Period 1

On January 16, 2025, Wormhole announced the live distribution of rewards for SRP Period 1, marking a significant incentive for token holders. The program allocated over 50 million W tokens to 58,415 eligible addresses, with the following details:

Aspect	Details
Reward Amount	Over 50,000,000 W tokens
Eligible Addresses	58,415
Vesting Period	90 days, linear vesting after initial unlock
Claiming Process	Via W Dashboard
Qualification Thresholds	Minimum 25,000 W held x days (EVM & Solana), with additional EVM delegation and Solana staking requirements
Solana Specifics	Staking between Dec 4, 2024, and Jan 8, 2025, 00:00 UTC, with fixed reward for 100 W balance
Reward Model	Fixed reward + linear reward based on W x days, plus extra for Discord Steakorrrs role claimants
Sybil Handling	Flagged sybil addresses merged, 40-80% reward reduction for certain cases

This program, part of a broader allocation of ~858 million W tokens for community incentives, aims to boost DAO participation, enabling voting on proposals and potential access to new products or incentives. The blog post detailing this can be found at Wormhole Blog: Rewards for Staking Rewards Program (SRP) Period 1 Are Now Live.

Network Support Deprecation: Summer 2025 Changes

On February 12, 2025, Wormhole announced a significant shift in its network support strategy, planning to deprecate support for several blockchain networks by summer 2025. This update, detailed in a news article, affects the following networks:

Category	Networks
Full Deprecation	Terra, Terra2, Oasis, Aurora, Acala, Karura, Xpla
Community Transition	Injective, Osmosis, Evmos, Kujira (Cosmos chains)

The implementation will occur in two phases: node disconnection followed by delisting from the Portal frontend. This decision, driven by the Guardian Network's review of transaction volumes and resource utilization, ensures sustainability. Incoming transfers remain feasible if supported by a majority of Guardians, and existing IBC connections are whitelisted for community frontends. Developers can leverage resources like the Wormhole Connect frontend widget,

@certusone

/wormhole-sdk, and CryptoCrew Validators for IBC relaying. The announcement is covered at [Blockchain News: Wormhole to Deprecate Support for Multiple Blockchain Networks by Summer 2025](https://blockchain.news/ news/wormhole-deprecate-support-multiple-blockchain-networks-2025).

Additional Context and Methodology

The analysis began with understanding the Wormhole ecosystem, initially exploring its definition through web searches, which revealed its role as a blockchain interoperability platform. Further searches for "wormhole blockchain latest news" and specific queries like "February 2025" news helped identify recent developments. X posts from

@wormholecrypto

provided insights into community integrations, such as Suilend's use of Wormhole Connect, and blog posts confirmed the SRP launch. The deprecation news, not found on the blog but reported externally, was verified through browsing the news article, ensuring accuracy.

This comprehensive approach, combining official sources, social media, and news outlets, ensures a thorough understanding of the ecosystem's latest updates, catering to both layman and technical audiences.

Key Citations

• Wormhole Blog: Rewards for Staking Rewards Program (SRP) Period 1 Are Now Live
• [Blockchain News: Wormhole to Deprecate Support for Multiple Blockchain Networks by Summer 2025](https://blockchain.news/ news/wormhole-deprecate-support-multiple-blockchain-networks-2025)