Wormhole NTT (Native Token Transfers) is a framework introduced by Wormhole aimed at enabling multi-chain native token transfers, as opposed to traditional wrapped tokens. It allows project teams to directly deploy their tokens on multiple blockchains and use Wormhole’s cross-chain communication mechanism to ensure secure and efficient native token flows.
Please note that native tokens here refer to tokens that are native in nature, in contrast to wrapped tokens, rather than being specific tokens like ETH, SOL, or SUI.
Key Features of NTT
Token Behavior Control: NTT allows project teams to control token attributes across different blockchains without affecting their compatibility. This includes:
●Standard Compatibility: Supports ERC-20 and SPL token standards.
●Metadata Integrity: After cross-chain transfers, the token’s name, symbol, total supply, and other information remain unchanged.
●Upgrade and Governance Rights: The project team retains the ability to upgrade and govern the token, without losing control due to cross-chain transfers.
Security Mechanism: NTT uses Wormhole’s Guardian Network for security verification, ensuring that cross-chain messages can only be approved once 13 out of 19 validators reach a consensus.
Composability: NTT is open-source and modular, enabling developers to:
●Extend Custom Features: Such as rate limiting, access control, and more.
●Integrate with Other DeFi Protocols: NTT can seamlessly integrate into existing DeFi applications, increasing the token’s usability.