Wormhole’s W Token Is Paying Out 999% a Week on Solana Protocol Kamino
Wormhole's newly launched W token is yielding traders a weekly return of 999% on the Kamino decentralized finance platform on Solana, provided its capacity isn't exceeded. This return can be achieved by pairing W with JitoSOL (JTO) and locking both tokens in a liquidity pool on Kamino. The rewards include over 3,300 W and 666 JTO daily, worth a total of $7,000, plus a share of the trading fees generated on the W and JitoSOL pool. The pool can hold up to $7.5 million and had nearly $5 million locked as of Thursday morning in Europe. JitoSOL is a token issued when a user stakes Solana's tokens on Jito, another protocol based on Solana. W, Wormhole's governance token, was released with a market capitalization of $3 billion and was airdropped to thousands of users based on their previous activity on the bridging application. Wormhole allows users to transfer tokens between different blockchains. The W token's price has dropped almost 30% in the past 24 hours.
