WORM

WORM is a cryptographically scarce ERC-20 token created through the destruction of Ethereum (ETH) in a privacy-preserving manner. It is minted by consuming BETH, a private proof-of-burn receipt, which is itself generated using zk-SNARKs. WORM transforms irreversible ETH burns into an economically meaningful, scarce asset without requiring changes to Ethereum’s consensus or base-layer mechanics. By leveraging EIP-7503, which standardizes Private Proof-of-Burn, WORM introduces a new class of cryptoassets whose minting is rooted in permanent ETH destruction—shielded from on-chain surveillance. The protocol introduces hard emission caps per block, ensuring WORM remains cryptoeconomically scarce even as ETH burns grow. WORM is designed to be usable, composable, and private—fueling a new generation of decentralized finance, payments, and speculative applications.