WCT Token: The Core Driving Force of the WalletConnect Network

Today, as the cryptocurrency and blockchain technology continue to evolve, the WalletConnect (WCT) token, as a key infrastructure for connecting wallets with decentralized applications (DApps), is gradually becoming an important part of the crypto space. This article will provide a detailed introduction to the core functions, token economics, airdrop plans, and its role in the ecosystem of the WCT token.

1. Introduction to WalletConnect Network and WCT Token

WalletConnect is an open-source on-chain user experience ecosystem designed to connect users’ wallets to decentralized applications (DApps) through secure and interoperable protocols. Since its launch in 2018, WalletConnect has become an industry standard, providing 150 million connections for over 23 million users, spanning over 600 wallets and 40,000 application projects. WalletConnect supports multi-chain ecosystems, including Ethereum and its Layer 2, Solana, Cosmos, Polkadot, and Bitcoin, among others.

WCT Token is the native token of the WalletConnect network, issued on the Optimism OP mainnet, combining the security of Ethereum with the high-speed transaction advantages of Optimism. The total supply of WCT tokens is 1 billion, and its distribution structure is as follows:

• WalletConnect Foundation: 27%
• Airdrop: 18.5%
• Team: 18.5%
• Early supporters: 11.5%
• Core Development: 7%
• Reward: 17.5%

Second, the core function of WCT token

1. Governance feature

   • WCT holders can participate in network governance, vote on proposals and changes, including fee structures, technical upgrades, and ecosystem subsidies. This decentralized governance model gives the community control over the project’s development.

2. Staking feature

   • Users can stake WCT tokens to receive rewards, enhancing the network’s security and stability. The staking period ranges from 1 week to 2 years, with longer staking periods yielding higher rewards.

3. Reward Mechanism

   • WCT Token is distributed as rewards to node operators, high-quality wallets, and development teams to encourage ecosystem participants to improve service quality. In addition, WCT Tokens are also distributed to eligible users and contributors through an airdrop program.

4. Fee payment

   • Although the services on the WalletConnect network are currently free, there may be a fee structure introduced in the future, such as relay usage fees and other service fees. These fees will be paid in WCT tokens.

III. Airdrop Plan for WCT Tokens

WalletConnect distributes WCT tokens to eligible users and contributors through an airdrop program. The first round of airdrop was completed in November 2024, distributing a total of 50 million tokens. Eligible users can qualify for the airdrop by connecting their wallets to DApps, participating in development contributions, etc. In the future, WalletConnect plans to hold more rounds of airdrops to attract more users to participate.

4. Market Performance and Future Prospects of WCT Token

The WalletConnect Foundation is advancing the decentralization process of the network according to the established roadmap, aiming to achieve a fully open, permissionless WalletConnect network. In the future, the transferability of WCT tokens may be enabled through community governance decisions, which will further enhance their liquidity and market value.

WCT tokens serve as the core driving force of the WalletConnect network, providing strong support for users on-chain experience through functions such as governance, staking, rewards, and fee payments. As the WalletConnect ecosystem continues to expand and the decentralization process advances, the value of WCT tokens is expected to increase with the growth of network usage. For investors and users, WCT tokens are not only an opportunity to participate in the WalletConnect ecosystem but also a crypto asset worth paying attention to.