Wormhole has quickly become one of the most popular bridges in crypto. It has quickly gained adoption and now has ~$3.5B worth of assets locked.
Terra contributes heavily to Wormhole’s TVL with 5 out of the top 10 assets (bETH, UST, aUST, sAVAX & LUNA) either leaving or being sent to Terra. Additionally, almost 40% of the TVL is driven by bETH which is the Lido staked version of ETH used as collateral on Terra’s Anchor Protocol.
Looking at the Terra adoption of Wormhole bridge, we can see that users have been migrating from the Terra-native Shuttle bridge since October. Wormhole launched on Terra in October 2021 and in the 6 months since, Wormhole now accounts for 40% of bridge users sending and receiving assets from Terra.
Comparing all the chains connected by the Wormhole bridge, Ethereum and Terra are almost neck and neck for the amount of assets received and sent. Wormhole, originally began life as a way to bridge Ethereum assets to Solana. Solana
