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Wormhole3 has successfully launched its own alpha version (ver0.4) and has become the second biggest dApp on the Steem social blockchain. Since 2018, the Wormhole3 team has been actively developing blockchain-oriented social applications, leading to the launch of WhereIN in January 2019, Peanut (a staking DAO) in 2020, and Nutbox (a staking DAO creation platform) in 2021. Within days of its launch, Nutbox’s TVL reached $36 million. The entity combines a DAO with Social and is focusing on exploring Web3 social from a fresh perspective.
Wormhole3 initially backed the Steem blockchain, which offers features such as multi-level accounts, third-party application payment gas fees, and decentralized account authorization. This links the Web2 platform to the Steem public social chain, making Twitter and other Web2 social platforms the application end. By providing a smooth and effortless entry into the crypto arena for Web2 users, Wormhole3 opens the pathway for cryptocurrency to attract new users. Users require only a single login to access Wormhole3, send tweets with instructions on the chain, and accumulate social content on the Steem blockchain. They can also shift cryptocurrency and receive rewards from sources such as BSC, Polygon, and Moonbeam.
Wormhole3’s top priority is backing the Steem blockchain. In the future, it may also back social protocols like Lens Protocol or Nostr, becoming the initial step for Web2 social users to enter the crypto arena. Users can conveniently post tweets on-chain and to various on-chain groups. They can also tip cryptocurrency on the Wormhole page and curate posts on the Wormhole3 Curated page for rewards. NFTs for curation creation enable users to quote tweets, create curation, and earn rewards in cryptocurrency for related replies.