Overview

• Wormhole introduced a W‑denominated strategic reserve that channels on‑chain and off‑chain revenues into a permanent treasury designed to accumulate W over time.
• Governance stakers are set to earn a 4% base yield funded from existing supply and protocol revenues, with potential boosts for active users through the upcoming Portal Earn program.
• The protocol will replace annual cliff unlocks with bi‑weekly releases starting Oct. 3, 2025, smoothing supply and increasing predictability across major allocation categories over roughly 4.5 years.
• Lock schedules for core contributors and Guardian validators were extended by six months, moving their timelines to October 2028 to reinforce long‑term alignment.
• Markets reacted strongly to the announcement, with W up more than 22% to around $0.109–$0.112 and 24‑hour spot volume up nearly 595% to $319.5 million, while futures volume rose about 728% to $607.9 million.