Wormhole Token Surges 22% Following Major Tokenomics Upgrade

Wormhole's native token, W, experienced a significant price surge of 22% on September 18 after the protocol unveiled a comprehensive tokenomics upgrade. The overhaul introduced a protocol reserve, a 4% staking yield, and smoother token unlocks, driving both spot and derivatives trading volumes to unprecedented levels.

At press time, W was trading at $0.109, marking weekly gains of 21% and monthly gains of 40%. Spot trading volume skyrocketed 595% to $319.5 million, while derivatives volume surged 728% to $607.9 million. Open interest climbed 76%, signaling strong market confidence and new position entries.

The 'W 2.0' upgrade establishes the Wormhole Reserve, a mechanism designed to reduce liquid supply while tethering the token's value to network growth. Governance stakeholders will now benefit from a target base yield of 4%, funded by protocol revenue and existing token supply.