Project Worm-Hole
planted on in: Digital Graveyard and WWW Clubs.
http://www.inetexchange.com/wormhole/index.shtml
Project Worm-Hole was a project by LinkMedia, the same people behind The Inet Exchange Classified Directory.
I found it via a link from Web Jail and it appears to have been a free link exchange of sorts. Members could register their website to be included in the worm-hole with the only requirement being that they include two banners on their website in return.
One banner would link to the worm-hole website itself while the other would link to the "Worm hole Jumper," a cgi script that would redirect to one of the members randomly.
To that end this acted as a neat discoverability tool; similar to WebRings and Banner Exchanges that where popular in the early days of the Internet.