Summary
Namada is redefining what privacy means in a composable, multichain world - retrofitting privacy for assets and applications across the interchain. However, if we’re serious about becoming the default privacy layer for crypto, we can’t stop at IBC.
To truly fulfill Namada’s mission, we must extend our reach and push outside of our ecosystem. That starts with one of the most impactful steps we can take right now: integrating Wormhole.
I propose that we make a Wormhole integration one of our top priorities - unlocking seamless, privacy preserving flows for assets and applications across all major chains such as Solana, Ethereum, Base and Arbitrum.
What is Wormhole
Wormhole is a cross-chain interoperability protocol used by 40+ chains, including Solana and Ethereum. Simply put, Wormhole is a messaging layer that enables bridging solutions for token transfers, generic messages, and arbitrary data. It works by observing events on one chain and relaying verified messages to another, making cross-chain asset movements fairly seamless via minting and wrapping mechanisms. Aside from asset movement, Wormhole also supports advanced use cases like cross-chain governance, remote contract calls, and multichain dapps - making it one of the more versatile interoperability layers in our space.
Why Does It Matter For Namada?
Currently, Namada only supports IBC-compatible chains and their assets. A Wormhole integration would unlock a universe of bridged assets from nearly every major chain. Users shouldn’t have to think twice about if the asset they hold can be used privately–Namada is building a privacy layer for all, and Wormhole brings us one step closer to that universal reach.
Why Wormhole Specifically?
Imo it comes down to three factors: TVL, Chain Support and Security
TVL: As of today (April 28nd, 2025) Wormhole’s Portal bridge is hovering around ~$3B in TVL, which is multiples more than a few of its top competitors combined.
Chain Support: Although there are other solutions that rival its current set of chains, after speaking with emerging chains, it’s clear that Wormhole is becoming the default cross-chain messaging layer for new and emerging L1s/appchains, many of which are prioritizing integrations from day one. Aligning with this standard ensures Namada remains compatible with the next wave of blockspace, without needing to reinvent integrations chain-by-chain.
Security: Since 2022 Wormhole has processed ~$60b in total volume, $1.5b in the last 30 days alone. Wormhole relies on a decentralized guardian set (currently 19 validators) that observe events across chains and sign attestations. A quorum of 13/19 validator signatures is required to validate messages. This model assumes at least 2/3 of guardians are honest, and if >1/3 are compromised, Wormhole halts; if > 2/3 are compromised, it’s over . Relayers are untrusted and only transmit data.
Let’s take the next step in bringing privacy to everyone. Curious to hear what others think!
Disclosure: Veil has no financial interest in Wormhole and has never held or invested in its native token (“W”). This proposal is based solely on its technical and strategic alignment with Namada’s mission.
Source: https://defillama.com/protocols/Bridge
Source: https://wormholescan.io/